Chubb Life Hong Kong advances art of legacy planning with new global wealth centre
Chubb Life Hong Kong has taken a bold step in its insurance and wealth management journey by opening the company's first global wealth centre, Chubb 1792 Club, in Hong Kong. The nearly 10,000 sq ft lounge at The Gateway in Tsim Sha Tsui will cater to the growing number of affluent and high-net-worth (HNW) individuals in Hong Kong and across Asia through a fusion of wealth management expertise and artistic engagement.
The city's rise as a global wealth management hub underpins the timeliness of this new Chubb Life Hong Kong initiative. By the end of 2023, Hong Kong's asset and wealth management sector reached HK$31.2 trillion (US$3.97 trillion), with 64 per cent of this sum originating from non-Hong Kong investors. The life insurance sector in particular has seen robust growth, with mainland Chinese tourists alone spending HK$62.8 billion on life and medical policies last year – 6.5 per cent up on the previous year. This surge is reflected in Chubb Life's tailored solutions for its customers, including wealth preservation and intergenerational legacy planning, especially amid Asia's estimated US$85 trillion protection gap – according to Chubb's annual report 2024 – driven by under-insurance and an ageing population.
The Chubb 1792 Club lounge is designed to foster meaningful engagement and deliver bespoke wealth management services and opportunities through art. Photo: Chubb Life Hong Kong
In response to this growing demand, Chubb Life Hong Kong has been expanding its tailored insurance solutions for HNW clients and plans to grow its Hong Kong-based agency workforce significantly – while investing in digital transformations to enhance efficiency and client experience.
Named to mark Chubb's founding year, the Club is much more than a conventional wealth centre as it aims to serve as a prestigious platform delivering bespoke wealth planning services while weaving cultural storytelling into the client experience.
The wealth centre features a collection of works by eight renowned and emerging artists curated by Art021, China's largest contemporary art fair group. Among the artworks are two newly commissioned pieces. One, Harbor Mirage, a digital landscape by Shanghai-based artist Yang Yongliang, is much like water, in that it flows between past and present. Yang's video blends the stillness of artworks from the Song Dynasty, the dynamic energy of Hong Kong depicted via its skyline, and modern technology. The second piece is by Hong Kong artist Desmond Leung, and is a series of seven, 20-second videos representing elements of Chinese cosmology: metal, wood, water, fire, earth, sun, moon and stars. Rotating through seven rooms, these videos reflect the cycles of time and create an immersive journey for visitors.
Yang Yongliang's Harbor Mirage (left) and Annie Morris's Stack 3, Studio Turquoise installation (right) in the Chubb 1792 Club lounge. Photo: Chubb Life Hong Kong
Hong Kong artist Stephen Wong, meanwhile, presents his vivid painting of the city's landscape. The selection also includes the works of Annie Morris, Wolfgang Tillmans, Abraham Lacalle, Long Quan and Lu Pingyuan.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
South China Morning Post
24 minutes ago
- South China Morning Post
MingMed seeks Hong Kong listing to fund research and launch Botox alternative
MingMed Biotechnology is seeking a Hong Kong listing this year to raise funds to research and market a genetically engineered alternative to Botox in China. The drug developer, based in the Nansha district of Guangzhou, said it would set up an incubation centre in the Hong Kong Science and Technology Park in the third quarter. 'Hong Kong has many good universities and research institutes, but it [does not have] a lot of innovative biotech firms,' said MingMed CEO Zhang Yan in an interview on Friday. 'We aim to [turn] early-stage research discoveries at the city's universities into commercial products.' He said Hong Kong was a good platform for fundraising , early-stage drug research and global commercialisation, while Nansha was an ideal location for research and manufacturing. MingMed has raised 1.75 billion yuan (US$243.7 million) from multiple private fundraisings, Zhang said, adding that its largest institutional investor was Beijing-based Gaorong Ventures. The company filed a Hong Kong listing application in 2022, but let it lapse due to unfavourable global market conditions for biotech stocks, he said. Last year, MingMed completed a late-stage, phase-three clinical trial on a genetically manipulated alternative to Botox, which is used to reduce wrinkles. Botox is made from a naturally occurring botulinum toxin, a protein produced by a bacterium. Genetically engineered products could lower production costs and enhance product safety, Zhang said.
South China Morning Post
2 hours ago
- South China Morning Post
Could old coal mines help ease China's solar-panel overcapacity?
China leads the world in converting decommissioned coal-mining sites into solar power projects, a trend that promises to advance the clean energy transition while potentially reducing a surplus of solar panels produced by struggling Chinese manufacturers, according to Global Energy Monitor (GEM). Conversion of surface-mined lands into solar-generation projects had surged in 15 countries, particularly over the past couple of years, the non-governmental organisation said in a report on Wednesday. In mainland China – the world's largest producer and consumer of coal – 90 former coal mines were operating as solar-power facilities, with a total generating capacity of 14 gigawatts (GW), GEM said. An additional 46 projects representing 9GW were in the planning stages, it added. 'Repurposing mines for solar development offers a rare chance to bring together land restoration, local job creation, and clean energy deployment in a single strategy,' said Wu Chengcheng, project manager at GEM and co-author of the report. Outside China, 14 countries, including Australia, the US and Greece, were pursuing conversion projects, targeting a total of 11GW of solar capacity, according to GEM. However, most projects were still in the early stages, with only a small fraction operational. The report said such projects could help address land-utilisation issues, as the world had closed more than 6,000 coal mines since 2010, mostly in China and the US. More were expected to close under national commitments to phase out coal in 33 countries, GEM added. 'I wouldn't discount politics for influencing these trends,' said Ryan Driskell Tate, associate director at GEM. 'These projects turn 'abandoning' into 'rebuilding' and are incredibly symbolic of a just energy transition.'
South China Morning Post
3 hours ago
- South China Morning Post
How to age well and stay happy in retirement? 67-year-old chooses active, exciting life
For Alfred Yu, retirement was the beginning of an active, purposeful life. Growing older had sparked new passions in him and retirement allowed the Hong Kong-based 67-year-old to explore new possibilities, develop different skills and share them freely with others. After a career running his own training centre focused on computer-aided design and graphic design, Yu's retirement in 2014 marked a turning point. With more free time and no financial pressures, and his only child becoming more independent at age 16, Yu had the opportunity to rediscover his own interests. 'Retirement doesn't mean resting. It means having the freedom to do what you love,' he said. Yu bikes in Yuen Long, Hong Kong, in 2022. Photo: courtesy of Alfred Yu He took up camping, cycling and running – activities he had never prioritised in his youth. 'I was never athletic, but I liked swimming. Running and biking were new challenges.'
