AXA, Ant Bank (Hong Kong) and AlipayHK Forge Strategic Partnership
Jointly expanding convenient and diverse online financial management options
HONG KONG, April 9, 2025 /PRNewswire/ -- AXA Hong Kong and Macau ("AXA") announces a strategic partnership with Ant Bank (Hong Kong) ("Ant Bank") and AlipayHK to provide a suite of insurance products and services to millions of active AlipayHK users through Ant Bank and its Mini App in the AlipayHK App. This offering includes solutions for savings, health protection, and wealth accumulation. The partnership aims to address the diverse needs of customers in wealth management and protection, supporting them in achieving their financial goals.
This partnership will utilise AXA's expertise and extensive insurance portfolio, along with Ant Bank and AlipayHK's "E-wallet X Digital Bank" model, to deliver embedded insurance products and services powered by advanced technology. It aims to provide a broader range of customers with all-round wealth management products and services, while ensuring a simpler, smoother, and more secure insurance application experience. In the first phase, AXA's flagship life and savings products, including the popular "FortuneXtra Savings Plan", "Wealth Ultra Savings Plan", "Max Wealth Insurance Plan", and "Max Goal Insurance Plan", will be introduced on Ant Bank and its Mini App in the AlipayHK App, offering all-round wealth management and protection plans to a wide range of users. AXA will gradually integrate additional insurance product categories, further deepening the collaboration among the three parties as well as providing more comprehensive products and services for individuals and businesses within the year, fully addressing their protection needs.
Ant Bank is a subsidiary of Ant International that provides financial products and services, including funds and wealth management, insurance products and services. AlipayHK is a Super App that serves over 4.2 million residents in Hong Kong. Supported by Ant International's Alipay+ Wallet Tech, AlipayHK has partnered with Ant Bank to develop Open Banking, and has taken the lead to launch innovative services and products such as Ant Bank PayLater and "eM+" -- a high-interest savings account and low-threshold fund purchasing, offering users a new financial services experience.
Sally Wan, Chief Executive Officer, AXA Greater China, said, "AXA has consistently been proactive in developing diverse distribution channels and expanding our customer base, striving to provide comprehensive and diversified wealth management and protection solutions to a broader range of customers. We are honoured to become a strategic partner of Ant Bank and AlipayHK, leveraging synergies to create new opportunities and achieve multiple benefits for all parties. We look forward to further deepening the integration of our services with Ant Bank and AlipayHK, strengthening the insurance ecosystem, and jointly expanding our long-term business and customer network."
Yvonne Leung, Chief Executive, Ant Bank (Hong Kong), said, "As a leading digital bank in Hong Kong, we are committed to driving innovation in financial services through technology. This collaboration builds on our successful partnership with AlipayHK in areas such as payments, interest-earning balances, Buy Now Pay Later, and funds, among others, while further integrating AXA's insurance services into the digital ecosystem."
Venetia Lee, Chief Executive Officer, AlipayHK, said, "AlipayHK serves every aspect of Hong Kong people's lives, and it has become a trend for Hong Kong people to access financial services through the Super App. Financial institutions can leverage the platform technology provided by AlipayHK to deliver new experiences to users, making wealth management and insurance services more user-friendly and simpler. We focus on 'Tech' to empower financial institutions in excelling at 'Fin'. AlipayHK and Ant International look forward to continuing our collaboration with AXA and banking partners to explore the new ecosystem of embedded insurance, driving the inclusive progress of financial services in Hong Kong and Asia."
AXA is one of the most diversified insurers in Hong Kong which offers integrated solutions across Life, Health and General Insurance and is the largest General Insurance provider and a major Health and Employee Benefits provider. Through this collaboration, we believe that the three parties, leveraging an advanced financial technology platform, will integrate insurance products into the digital ecosystem, marking a milestone in exploring new avenues for growth.
About AXA Hong Kong and Macau
AXA Hong Kong and Macau is a member of the AXA Group, a leading global insurer with presence in 50 markets and serving 95 million customers worldwide. Our purpose is to act for human progress by protecting what matters.
As one of the most diversified insurers in Hong Kong, we offer integrated solutions across Life, Health and General Insurance. We are the largest General Insurance provider and a major Health and Employee Benefits provider. Our aim is to not only be the insurer to provide comprehensive protection to our customers, but also a holistic partner to the individuals, businesses and community we serve. At the core of our service commitment is continuous product & service innovation and customer experience enrichment, which is achieved through actively listening to our customers' needs and leveraging and investing in technology and digital transformation.
We embrace our responsibility to be a driving force against climate change and a force for good to create shared value for our community. We are proud to be the first to address the importance of mental health through different products and services and thought leading iconic research. Our overall Sustainability Strategy, with emphasis on climate strategy and biodiversity commitment, is developed based on TCFD recommendations. We are committed to integrating environmental, social and governance factors across our business and strive to contribute to a sustainable future through 3 distinct roles - as an investor, an insurer and an exemplary company.
About Ant Bank (Hong Kong)
Ant Bank (Hong Kong) Limited is a wholly-owned subsidiary of Ant International. On 9 May 2019, Ant Bank (Hong Kong) received a banking licence from the Hong Kong Monetary Authority, and it officially opened on 28 September 2020. It aims to provide local individuals and SMEs with reliable, trustworthy, transparent and inclusive banking services through fin-tech innovation. For more information, please visit https://www.antbank.hk.
Ant Bank (Hong Kong) Limited is a licensed insurance agency authorized by the Insurance Authority of Hong Kong, with the licensed insurance agency number GA1061.
About AlipayHK
The AlipayHK electronic wallet is operated by Alipay Financial Services (HK) Limited (Stored Value Facility Licence number: SVF0004) and regulated by the Hong Kong Monetary Authority. Currently, over 150,000 local retail outlets support AlipayHK electronic wallet for payments, covering large chain stores, shops, convenience stores, supermarkets, markets, and restaurants. Additionally, AlipayHK electronic wallet payment service also supports multiple overseas countries, including Chinese Mainland, Japan, South Korea, Thailand, Singapore, and Malaysia. For more details, please visit: http://www.alipayhk.com.
Apart from payment services, AlipayHK also serves as a comprehensive digital lifestyle platform, offering Hong Kong users a wide range of lifestyle, leisure, and convenience services. Features include transportation, financial management, cross-border payments, P2P transfers, blockchain remittances, bill payments, purchasing insurance products offered by third parties, and receiving electronic vouchers. This allows Hong Kong citizens to enjoy the convenience brought by this revolutionary multifunctional electronic wallet.
THIS PRESS RELEASE IS AVAILABLE ON AXA'S WEBSITE: AXA.COM.HK
IMPORTANT LEGAL INFORMATION AND CAUTIONARY STATEMENTS CONCERNING FORWARD-LOOKING STATEMENTSCertain statements contained herein may be forward-looking statements including, but not limited to, statements that are predictions of or indicate future events, trends, plans or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause AXA's actual results to differ materially from those expressed or implied in the forward-looking statements. Please refer to Part 4 - "Risk factors and risk management" of AXA's Universal Registration Document for the year ended December 31, 2019, for a description of certain important factors, risks and uncertainties that may affect AXA's business, and/or results of operations. AXA undertakes no obligation to publicly update or revise any of these forward-looking statements, whether to reflect new information, future events or circumstances or otherwise, except as part of applicable regulatory or legal obligations.
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SOURCE AXA Hong Kong and Macau
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For further details about the Plan, please visit: About AXA Hong Kong and Macau AXA Hong Kong and Macau is a member of the AXA Group, a leading global insurer with presence in 50 markets and serving 95 million customers worldwide. Our purpose is to act for human progress by protecting what matters. As one of the most diversified insurers in Hong Kong, we offer integrated solutions across Life, Health and General Insurance. We are the largest General Insurance provider and a major Health and Employee Benefits provider. Our aim is to not only be the insurer to provide comprehensive protection to our customers, but also a holistic partner to the individuals, businesses and community we serve. At the core of our service commitment is continuous product & service innovation and customer experience enrichment, which is achieved through actively listening to our customers' needs and leveraging and investing in technology and digital transformation. 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[1] It is compared with similar single premium participating savings plans offering high guaranteed cash value on day one (with guaranteed cash value of 80% or more of the single premium on the policy issuance date) provided by major competitors in the market. The relevant information is as of December 2024. Applicable to policies denominated in US and HK dollars. [2] The information refers to the service of periodic withdrawal with multiple recipients of withdrawal payments. The statement refers to Hong Kong market only and is based on a comparison of periodic withdrawal arrangements offered by insurers for Long-Term Businesses as defined by the Insurance Authority in the Register of Authorised Insurers in Hong Kong as of December 2024. [3] Wealth Master Service is an administrative service arrangement offered by AXA and not a plan feature of "Max Goal II". Any application for the service is subject to the administrative rules of AXA from time to time. [4] Only one application can be made within one policy year. The lock-in rate customer may apply to transfer to the terminal dividend lock-in account in a policy year shall not be more than 10% of the latest value of the terminal dividend before the 15th policy anniversary or 70% of the latest value of the terminal dividend on or after the 15th policy anniversary, customers who wants to transfer to the terminal dividend lock-in account must meet specific conditions. For further details regarding terminal dividend lock-in option, please refer to the policy contract. [5] When customer apply to exercise the Flexi Segregation Option, customer shall specify the percentage (the "Segregation Percentage") of the total cash value customer wish to transfer to the Segregated Policy. An application The designation of contingent insured must fulfil specific conditions. to exercise the Flexi Segregation Option is subject to the approval of the Company at its absolute discretion and must fulfill certain conditions. For further details, please refer to the product brochure. [6] For further details regarding Heritage Protector Option, please refer to the policy contract. [7] Interim owner is only applicable to policies issued in Hong Kong. [8] The designation of contingent insured must fulfil specific conditions. [9] For further details regarding the Flexi Care Option, please refer to the policy contract. [10] 1% of the total standard premiums paid is up to USD 100,000/RMB 650,000/ HKD 800,000. [11] Total standard premiums paid is the total premiums due and paid from the policy date up to the date of death of the insured, in which any extra premiums due to underwriting requirements shall be excluded. In case of any change in notional amount, the total standard premiums paid shall be adjusted accordingly. View original content: SOURCE AXA Hong Kong and Macau Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
