Hubbis reposted this
Innovations and Trends in Asia's HNW Insurance Market: Views from the Experts At the Hubbis HNW Insurance Forum in Singapore on September 4, 2024, a panel of leading insurance specialists - namely Roger CHI of 1291 Group, Belinda Au of Chubb Life, Jeremy Young of Transamerica Life Bermuda, John J. Harrell, CFP®️, CMFC®️ of Knighthead Annuity & Life Assurance Company, and Christopher T. of Swiss Life - gathered to discuss innovations and trends in high-net-worth (HNW) life insurance in Asia. Their insights ranged from the current state of the market to the latest products and solutions for wealth preservation and succession planning. The forum examined the market dynamics, product diversification, and the evolving expectations of HNW clients across the region, particularly in Hong Kong and Singapore. The experts also highlighted regulatory changes, shifts in client preferences, and the growing demand for more sophisticated financial tools like Private Placement Life Insurance (PPLI) and Variable Universal Life (VUL) policies Read on on our website: https://lnkd.in/gimhBuNk #Insurance #WealthManagement #LifeInsurance #PPLI #VUL #Singapore
Thanks for sharing, Michael Stanhope. The findings definitely resonate and the differences between the two markets was an interesting insight. Whilst Legacy planning is the top priority for the high-net-worth (HNW) segment, institutions offering comprehensive, end-to-end solutions—beyond innovative products such as Indexed Universal Life (IUL) insurance, complemented with estate planning and trust services—will be more appealing to this segment than a mere product-focused approach. Additionally, a growing trend, particularly in Singapore, is the increasing importance of incorporating a philanthropic component into financial products, providing HNW individuals with an opportunity to give back to society, a priority for many within this segment.
Love this. Thanks Michael.
Seasoned Professional creating bespoke Wealth Management Solutions for Wealth Accumulation ,Preservation or Transfer
1moThe underwriter for Transmericam who stepped in I believe as a last minute stand in ,was particularly insightful….