Latest news with #AXA
South China Morning Post
7 hours ago
- Business
- South China Morning Post
Manulife's Hong Kong unit to redomicile from Bermuda thanks to new law
Manulife (International), the biggest pension provider in the city, plans to redomicile to Hong Kong from Bermuda in November, indicating its confidence in the city as an international financial centre, according to a notice it sent to customers on Friday. Advertisement This makes Manulife (International), the Hong Kong and Macau unit of Toronto-headquartered Manulife Financial, the second insurer to incorporate in Hong Kong after a new 'game changer' law easing the redomiciliation process came into effect on May 23. Rival AXA announced a similar move soon after the change. The legislation allows companies to establish themselves in the city while retaining their legal identity and business continuity. Previously, a redomiciling company had to wind up its existing entity and shift all assets and transactions to Hong Kong. Manulife said in a customer notice that its decision reflected confidence in Hong Kong as a premier international financial hub. 'Redomiciling to Hong Kong allows us to better align with the city's robust financial and regulatory environment, strengthening our ability to meet local market needs,' said Patrick Graham, CEO of Manulife Hong Kong and Macau. Advertisement The decision came shortly after Secretary for Financial Services and the Treasury Christopher Hui Ching-yu conducted a roadshow to several Canadian cities last week to promote Hong Kong, including the new regulatory regime. The simplified process would attract more local insurers and other companies incorporated in Bermuda or other tax havens to redomicile to Hong Kong, said Karina Wong, Greater China divisional president of CPA Australia, an accounting industry body.
Yahoo
2 days ago
- Business
- Yahoo
AXA Launches "Max Goal II Insurance Plan"
Shortest guaranteed breakeven timeframe and market-first Wealth Master Service to empower High-Net-Worth Individuals to secure and grow their wealth across generations HONG KONG, June 4, 2025 /PRNewswire/ -- AXA Hong Kong and Macau ("AXA") has launched the new "Max Goal II Insurance Plan" ("Max Goal II"), featuring the shortest guaranteed breakeven timeframe of 5 years in the market[1] , along with competitive total returns. The plan is complemented by the market-first[2] Wealth Master Service[3], and offers various unique capabilities for wealth distribution and succession. It provides customers with flexible wealth management solutions to achieve long-term assets appreciation and wealth transfer across generations. Janet Lee, Chief Life and Health Insurance Officer of AXA Hong Kong and Macau, said, "Global geopolitical instability has led to market volatility, impacting the stable growth of family assets. In response, we are introducing the new 'Max Goal II Insurance Plan', which offers a 'short guaranteed breakeven timeframe' with ample liquidity for our customers. With highly competitive total returns, this plan empowers customers to achieve steady growth in volatile markets while optimising cash flow management. Furthermore, we recognise the importance of wealth succession planning for High-Net-Worth customers. Therefore, this product features a trust-like wealth inheritance and management structure, along with the market-first Wealth Master Service, allowing customers to allocate their wealth and manage succession planning with flexibility and precision." "Max Goal II" offers the following key features to meet customers' diverse needs across Elevate, Master and Bequeath: 1. Elevate: Guaranteed breakeven timeframe of 5 years Rapid breakeven: The guaranteed cash value at the commencement of the policy equals to 81% of the single premium. By the 5th policy anniversary, the guaranteed cash value will reach 100% of the single premium. Terminal Dividend: Starting from the 3rd policy anniversary, "Max Goal II" offers a non-guaranteed terminal dividend, allowing the policy to achieve total breakeven by the 4th policy anniversary, and further enhancing potential wealth growth and accumulation over the medium to long term. Lock-in gains: From the 5th policy anniversary onwards, customers have the flexibility to exercise the terminal dividend lock-in option[4], converting non-guaranteed dividends into guaranteed returns via the lock-in account and earn interests. Customer can withdraw the value of the terminal dividend lock-in account at any time to meet their financial needs and goals. 2. Master: First ever Wealth Master Service for tailoring wealth distribution Market-first[2] Wealth Master Service[3]: In addition to one-off partial withdrawals, customers can make periodic withdrawals through the Wealth Master Service[3], where they can set the withdrawal amount and period, and nominate up to 3 recipients to receive the withdrawal proceeds, enabling hassle-free allocation of wealth to family and loved ones. Flexi Segregation Option[5]:Customers may split their policies as many times as they want, for optimal family wealth allocation strategically, fulfilling customers' financial needs and goals in different life stages. 3. Bequeath: Seamlessly achieving succession planning, as well as comprehensive wealth inheritance and management structure Heritage Protector Option[6]: Customers can select a succession event option and appoint a contingent owner and interim owner[7] to safeguard the policy and ensure a smooth transition of policy ownership, mitigating inheritance risks. If the succession event occurs before the contingent owner has reached the designated age, the interim owner[7] will hold and manage the policy with granted policy rights pre-specified by the customer before the contingent owner assumes policy ownership after attaining the designated age, ensuring wealth is passed on in accordance with customer's intention. Flexi Continuation Option/Change of insured: Customers may apply to designate one contingent insured[8] and assign a portion of policy value to be accumulated further. In the unfortunate event of the death of the insured, the designated contingent insured will become the new insured, and the pre-assigned portion of the policy value will continue to accumulate for future generations. The remaining portion of the policy will be payable in the form of compassionate benefit in a lump sum to the designated beneficiary. In addition, customer may change the insured of the policy for an unlimited number of times, which will not affect the policy values under the policy, ensuing that the policy value can be passed on to the next generation. Flexi Care Option[9]: Customers can appoint a trusted individual as designated executor. In the unfortunate event of the customers' mental incapacitation or physical incapacitation, this designated executor can act on behalf of the customer to make a one-time withdrawal from the policy, providing crucial emergency financial support. Multiple Death Benefit Settlement Options: Customers may customise different death benefit settlement option for each of the beneficiaries, including lump sum payment, payment by instalments, or hybrid payment based on the diverse needs of beneficiaries, to achieve customers' legacy planning goals. Regardless of the choices made, customers have the flexibility to defer the commencement of settlement of death proceeds with a beneficiary for up to 30 years, aligning the distribution of benefits with the most appropriate timing. Charitable Giving Benefit: Customers can designate a recognised and accredited charity of their choice to receive the charitable giving benefit, of an amount equivalent to 1%[10] of the total standard premiums paid[11], to be paid by AXA when the death benefit becomes payable, ensuring the good deed lasts without affecting the payout of the death benefit. 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. 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. THIS PRESS RELEASE IS AVAILABLE ON AXA'S WEBSITE: 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. [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
North Wales Live
3 days ago
- Business
- North Wales Live
Study reveals one in three female entrepreneurs feel overlooked by investors
A recent study has found that nearly one in three female entrepreneurs feel overlooked by investors, with 20 per cent believing they face greater hurdles to success than men, largely due to restricted access to funding and investment. According to the survey involving 500 women business owners, the predominant challenges they confront include gender biases and balancing work with personal life. An alarming 40 per cent faced stereotypical perceptions around 'emotional' versus 'rational' decision making, while a quarter struggled to find a supportive team to help them reach their goals. These figures have been compiled as part of the Women in Business Report, by AXA, which examines the obstacles faced by female business owners and shares inspiring stories from female entrepreneurs. The research was carried out in partnership with the AXA's Startup Angel competition, which annually awards two new businesses top prize packages of £25,000 plus mentoring from the AXA Startup Angels' four successful SME owners. Mike Crane, director of small business insurance at AXA UK, which commissioned the research, said: "Starting your own business is a huge challenge and our research has highlighted areas where women feel disadvantaged." Mike added: "It's clear that while the business world has made progress in recent years, it's sometimes still not a level playing field for women. "More than half of the small business owners we surveyed said gender bias and stereotyping were a problem, while almost a third felt they weren't taken seriously by investors, clients or suppliers." The survey shed light on various other hurdles women in business face, including underrepresentation in senior positions and societal expectations surrounding appearance and behaviour. However, nearly half of the women respondents stated that running their own business provided them with greater flexibility to spend time with their families. One in five shared that they started their businesses with the goal of empowering other women and promoting diversity, while 15 per cent aimed to positively impact their local communities. Furthermore, 43 per cent believed that being a business owner sets a positive example for their children. Mike added: "We believe being a woman shouldn't be a risk when starting out in business – everyone deserves the same opportunities regardless of gender. "We're committed to supporting all budding entrepreneurs to realise their dreams. The AXA Startup Angel competition provides a springboard to bring incredible ideas to life, offering funding and mentorship that can make a real difference in those early days. "Small businesses are the backbone of the UK economy, and we want to ensure they continue to grow and flourish with our support and encouragement." 10 THINGS THAT MAKE IT HARDER FOR WOMEN TO SUCCEED IN BUSINESS: Gender bias and stereotypes (59%) Gendered expectations around leadership styles (42%) Stereotypical perceptions of emotional vs rational decision making (42%) Difficulty in asserting authority without being viewed negatively (33%) Limited work-life balance support (29%) Underrepresentation in senior roles (28%) Lack of recognition for achievements or contributions (26%) Unequal division of domestic and childcare responsibilities (26%) Societal expectations around prioritising family over career (26%)
Wales Online
3 days ago
- Business
- Wales Online
Study reveals one in three female entrepreneurs feel overlooked by investors
Study reveals one in three female entrepreneurs feel overlooked by investors A fifth of female entrepreneurs believe it is harder for them to succeed than their male counterparts attributing this to limited access to funding and investment. A fifth find it difficult to secure funding (Image: Getty Images ) A recent study has found that nearly one in three female entrepreneurs feel overlooked by investors, with 20 per cent believing they face greater hurdles to success than men, largely due to restricted access to funding and investment. According to the survey involving 500 women business owners, the predominant challenges they confront include gender biases and balancing work with personal life. An alarming 40 per cent faced stereotypical perceptions around 'emotional' versus 'rational' decision making, while a quarter struggled to find a supportive team to help them reach their goals. These figures have been compiled as part of the Women in Business Report, by AXA, which examines the obstacles faced by female business owners and shares inspiring stories from female entrepreneurs. The research was carried out in partnership with the AXA's Startup Angel competition, which annually awards two new businesses top prize packages of £25,000 plus mentoring from the AXA Startup Angels' four successful SME owners. Mike Crane, director of small business insurance at AXA UK, which commissioned the research, said: "Starting your own business is a huge challenge and our research has highlighted areas where women feel disadvantaged." Article continues below A quarter found it difficult to find a supportive team to assist them with their goals (Image: Getty Images ) Mike added: "It's clear that while the business world has made progress in recent years, it's sometimes still not a level playing field for women. "More than half of the small business owners we surveyed said gender bias and stereotyping were a problem, while almost a third felt they weren't taken seriously by investors, clients or suppliers." The survey shed light on various other hurdles women in business face, including underrepresentation in senior positions and societal expectations surrounding appearance and behaviour. However, nearly half of the women respondents stated that running their own business provided them with greater flexibility to spend time with their families. One in five shared that they started their businesses with the goal of empowering other women and promoting diversity, while 15 per cent aimed to positively impact their local communities. Furthermore, 43 per cent believed that being a business owner sets a positive example for their children. Mike added: "We believe being a woman shouldn't be a risk when starting out in business – everyone deserves the same opportunities regardless of gender. Article continues below "We're committed to supporting all budding entrepreneurs to realise their dreams. The AXA Startup Angel competition provides a springboard to bring incredible ideas to life, offering funding and mentorship that can make a real difference in those early days. "Small businesses are the backbone of the UK economy, and we want to ensure they continue to grow and flourish with our support and encouragement." 10 THINGS THAT MAKE IT HARDER FOR WOMEN TO SUCCEED IN BUSINESS:
Daily Mirror
3 days ago
- Business
- Daily Mirror
One in three women in business aren't taken seriously by investors
A fifth of women who run their own businesses think it's harder for them to succeed than men, according to a new study which has highlighted the challenges faced by female entrepreneurs Almost one in three women in business feel they are not taken seriously by investors, according to a recent study. A fifth believe it is more difficult for them to succeed than their male counterparts, with 22% attributing this to limited access to funding and investment. The survey of 500 female entrepreneurs revealed the main challenges they face as business owners, including gender bias and juggling personal and professional life. Four in ten reported they have faced stereotypical perceptions around 'emotional' versus 'rational' decision making, while a quarter struggled to find a supportive team to help them reach their goals. These figures have been compiled as part of the Women in Business Report, by AXA, which examines the obstacles faced by female business owners and shares inspiring stories from female entrepreneurs. The research was carried out in partnership with the AXA's Startup Angel competition, which annually awards two new businesses top prize packages of £25,000 plus mentoring from the AXA Startup Angels' four successful SME owners. Mike Crane, director of small business insurance at AXA UK, which commissioned the research, said: "Starting your own business is a huge challenge and our research has highlighted areas where women feel disadvantaged." "It's clear that while the business world has made progress in recent years, it's sometimes still not a level playing field for women. More than half of the small business owners we surveyed said gender bias and stereotyping were a problem, while almost a third felt they weren't taken seriously by investors, clients or suppliers." The survey also highlighted other challenges faced by women in business, including a lack of representation in senior roles and societal pressures around appearance and behaviour. Despite these challenges, nearly half of the women said running their own business gave them more flexibility to spend time with their families. A fifth shared they started their own businesses to empower other women and promote diversity, while 15% hoped to make a positive impact on their local communities. Moreover, 43% believe that being a business owner sets a good example for their children. Mike added: "We believe being a woman shouldn't be a risk when starting out in business – everyone deserves the same opportunities regardless of gender. "We're committed to supporting all budding entrepreneurs to realise their dreams. The AXA Startup Angel competition provides a springboard to bring incredible ideas to life, offering funding and mentorship that can make a real difference in those early days. "Small businesses are the backbone of the UK economy, and we want to ensure they continue to grow and flourish with our support and encouragement." 10 THINGS THAT MAKE IT HARDER FOR WOMEN TO SUCCEED IN BUSINESS: Gender bias and stereotypes (59%) Gendered expectations around leadership styles (42%) Stereotypical perceptions of emotional vs rational decision making (42%) Difficulty in asserting authority without being viewed negatively (33%) Limited work-life balance support (29%) Underrepresentation in senior roles (28%) Lack of recognition for achievements or contributions (26%) Unequal division of domestic and childcare responsibilities (26%) Societal expectations around prioritising family over career (26%) Social pressure around appearance and behaviour (25%)
