MetLife Hong Kong Celebrates 18% YoY Business Growth
27 January 2016 - 8:17PM
Business Wire
Eyes Agency and Brokerage Business Expansion
in 2016
MetLife Limited (MetLife Hong Kong)*, a wholly-owned subsidiary
of MetLife, Inc., the #1 U.S. life insurer^, today announced the
latest updates of its business progress and achievements in 2015,
and shared its business plan for the year ahead with a focus on
expanding its successful agency and brokerage businesses.
Last year witnessed many historic milestones for MetLife Hong
Kong. Most recently, MetLife Hong Kong received an A+ rating from
Standard & Poor’s, scored 22 industry and marketing awards
including Company of the Year (Insurance) at the BENCHMARK Wealth
Management Awards 2015, and achieved an 18% year-over-year business
growth^^ with the value of new business margin doubled^^. In
addition to business growth, MetLife Hong Kong built its agency
force to over 500 agents within the year – exceeding its first-year
target, setting MetLife Hong Kong on track to reach its three-year
goal of 1,500 agents. With a solid foundation set, MetLife Hong
Kong seeks to expand on last year's momentum via three key
objectives highlighted today at its 2016 business strategy
address:
1. Continue to provide innovative products and the highest
quality customer service;
2. Expand its high-net-worth and mid-affluent segment offerings;
and
3. Grow its agency and brokerage businesses, following on last
year's success.
Mr. Lennard Yong, Chief Executive Officer of MetLife Hong Kong,
said, "We are extremely proud of our accomplishments from last
year, but our work in Hong Kong is far from done. Our mission is to
become one of the leading life insurers in Hong Kong, and in order
to realize this ambition, we will diligently set forth to achieve
our year-ahead business objectives. In tandem with our ongoing
commitment to pursuing product and service excellence, our primary
focus this year is to expand our brokerage business and to continue
scaling our agency force. In particular, we view the high-net-worth
and mid-affluent demographics as emerging segments which can
benefit greatly from our diverse portfolio of innovative products
and services."
MetLife Hong Kong’s brokerage business has been buoyed by
increased regional demand for USD-denominated life insurance
products amid volatile global markets, strong investment strategies
and capabilities, and the financial strength of MetLife Hong Kong,
which has recently obtained an A+ rating from Standard and Poor’s.
MetLife Hong Kong's award-winning USD universal life insurance
products, which provide customers with the flexibility to focus on
the policy’s cash value growth, have been widely acclaimed by the
high-net-worth customer base for its ability to ensure broad
protection to fill the gaps in estate and succession planning.
Regarding its growing agency force, MetLife Hong Kong's goal of
recruiting 1,500 agents from 2015 to 2017 has been supported by
recruitment programs like “Go Goal Life” - a new and unique
recruitment campaign that aims to attract Generation Y talent. As a
result, its agency force has been able to enlist over 500 agents to
meet its first-year objective in a highly competitive insurance
industry.
“I am confident that through this vision for 2016 we will take
one big step towards realizing our mission in Hong Kong. We have
the talent, the passion, and the expertise to bring us to new
heights in this city, and I look forward to being part of this
journey,” concluded Mr. Yong.
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 about MetLife Hong Kong,
visit www.metlife.com.hk.
*MetLife Limited (“MetLife Hong Kong”) is a wholly-owned
subsidiary of MetLife, Inc. in Hong Kong and a private company
limited by shares incorporated and registered under the applicable
laws in Hong Kong. MetLife Limited is an authorized insurer
carrying long term business in Hong Kong.
^Axco Global Statistics 2014
^^Year-over-year growth as of December 31, 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/20160127005507/en/
The Hoffman AgencyJanniefer Chan, (852)
2231-8119jachan@hoffman.comorMetLife Hong KongSunshine Farzan,
(852) 2199-1821sfarzan@metlife.com
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