By Raquel Mete
ZEDRA Hong Kong has joined hands with AIA Hong Kong in launching a trust referral service for AIA Hong Kong’s selected High Net Worth customers. AIA has the largest number of insurance policies in Hong Kong1, serving over 3 million customers2 and is the first insurer in Hong Kong to offer the referral services of “Standby Trust” and “Tax & Legal Advisory” for its High Net Worth clients.
The new trust referral service is designed to support the legacy planning requirements of High Net Worth individuals. The “Standby Trust Referral Service” will be offered to selected premium customers of AIA Hong Kong. Upon introduction from AIA, ZEDRA will assist eligible and interested customers by setting up and administering a Hong Kong Law governed Standby Trust for the family, or provide other trust planning solutions as needed.
Commenting on the new alliance with AIA Hong Kong, ZEDRA Hong Kong Managing Director John Ashwood said, “The new AIA Hong Kong Trust Referral Service is a good example of the deep capability and innovative thinking by ZEDRA. I am delighted we have been able to assist in designing and implementing a solution which could fit the needs of AIA Hong Kong’s clients and as a result, delivering strong value proposition for both our organisations.” ZEDRA Hong Kong’s Executive Director of Private Clients / Trust Services Jacqueline Shek adds: “It is very pleasing for ZEDRA Hong Kong to be able to develop the Standby Trust Solution for AIA Hong Kong’s selected customers, as it addresses particularly prevalent succession planning needs amongst High New Worth clients in the region.”
Source of Data
- Provisional statistics of the Insurance Authority on Hong Kong long term insurance business from January to December 2017. The policies refer to the Direct Inforce Business of Individual Life and Annuity (Classes A & C) and Other Individual Business (Classes B, D, E & F).
- AIA Hong Kong internal data includes Hong Kong and Macau’s individual life, group insurance and mandatory provident fund customers (as at 31 March 2018).