MetLife Hong Kong’s Brokerage Business Records over 500% YoY Growth
October 08 2015 - 3:00AM
Business Wire
Provides exceptional investment strength and
award-winning USD denominated products amid global market
instability and RMB volatility
MetLife Hong Kong*, a wholly-owned subsidiary of MetLife, Inc.,
the No.1 US life insurer^, announced today that its year-to-date
brokerage business volume has registered a year-over-year growth of
over 500%^^. MetLife Hong Kong credits the surge in its brokerage
business to heightened regional demand for its USD denominated life
insurance products, strong investment strategies and capabilities,
and the very strong to superior financial credit ratings of
MetLife, Inc.
This year’s record brokerage revenue comes as MetLife Hong Kong
consolidates its solid market position in the traditional retail
market and continues to build inroads in the region’s
high-net-worth (HNW) and affluent middle consumer segments. Coupled
with its sophisticated risk management, MetLife Hong Kong’s robust
USD denominated product portfolio is viewed as an attractive wealth
management alternative for HNW and affluent middle consumers, given
the recent global market instability and China’s yuan
volatility.
“We are very pleased to see such impressive results from our
brokerage business, a clear testament to the success of our
diversified distribution strategy and diverse, customer-centric
product portfolio,” said Mr. Lennard Yong, Chief Executive Officer
of MetLife Hong Kong. “With the support of our corporate home
office in the US, and 20 years of experience in Hong Kong, we are
able to tap into a broad array of unmatched investment capabilities
thereby providing local and regional customers with innovative
wealth management products tailored to meet their evolving needs.
We will build on this momentum and strive for continuous
improvement of our brokerage offering for our partners and their
customers.”
MetLife Hong Kong provides appealing products by leveraging the
scale as well as the well-established investment setup and process
from its US corporate home office. MetLife, Inc.’s significant
investment strength and support bring MetLife Hong Kong a
competitive advantage in investment results by broadening access to
a range of asset classes and capabilities of USD asset trading, US
securities selection and credit research.
Mr. Bobby Ying, Head of Financial Intermediaries - Brokerage
& IFA of MetLife Hong Kong, said, “Our considerable leap in
revenue this year reflects the market’s recognition of the value of
our products and investor preference for wealth management
alternatives due to the currently volatile environment. Our focus
in the future is to continue our successful push into the local and
regional HNW and affluent middle customer segments, while
consolidating our overall position in Hong Kong.”
MetLife Hong Kong is growing its high-net-worth customer base
through the award-winning USD universal life insurance products,
which provide customers with the flexibility to focus on the
policy’s cash value growth, and ensure broad protection to fill the
gaps in estate and succession planning. The universal life
insurance product range enables HNW individuals to enjoy jumbo life
insurance protection and a guaranteed interest rate. The products
come with a dual guarantee that stands out from the market – a
point-to-point 15-year interest guarantee, as well as the
conventional minimum crediting interest rate. In particular,
MetLife Legacy Universal Life garnered Best-in-Class in the “Whole
Life Protection Product” category at the BENCHMARK Wealth
Management Awards 2014.
In addition to its universal life insurance policies, MetLife
Hong Kong also offers a wide range of protection and savings
products that take advantage of MetLife, Inc.’s investment
expertise, innovation and market scale to provide secure,
cost-efficient and diversified solutions.
MetLife Hong Kong’s brokerage success is based on its strong
leadership, sound investments, innovative products and services,
and long history of social responsibility. MetLife Hong Kong’s
trusted brand, capital strength, and existing relationships with
individuals and institutional customers in Hong Kong uniquely
positions the insurer as a leading option for a broad range of
customers across various sectors.
About MetLife
MetLife, Inc. (NYSE: MET), through its subsidiaries and
affiliates (“MetLife”), is one of the largest life insurance
companies in the world#. Founded in 1868, MetLife is a global
provider of life insurance, annuities, employee benefits and asset
management. Serving approximately 100 million customers, MetLife
has operations in nearly 50 countries and holds leading market
positions in the United States, Japan, Latin America, Asia, Europe
and the Middle East. For more information, visit
www.metlife.com.
*MetLife Limited and Metropolitan Life Insurance Company of Hong
Kong Limited (collectively “MetLife Hong Kong”) are wholly-owned
subsidiaries of MetLife, Inc. in Hong Kong and private companies
limited by shares incorporated and registered under the applicable
laws in Hong Kong. Both MetLife Limited and Metropolitan Life
Insurance Company of Hong Kong Limited are authorized insurers
carrying long term business in Hong Kong.
^Axco Global Statistics 2014
^^Year-over-year growth as of September 30, 2015
#Based on non-banking assets according to A.M. Best research
2012 data, Best’s Review July 2014
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version on businesswire.com: http://www.businesswire.com/news/home/20151008005479/en/
The Hoffman AgencyAmory Hui,
(852)-2231-8116ahui@hoffman.comorMetLife Hong KongSunshine Farzan,
(852)-2199-1821sfarzan@metlife.com
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