HONG KONG, CHINA - Media OutReach - June 22, 2017 - MetLife Hong Kong^
has recorded strong growth and broad strength in its business performance. The
first quarter of the year witnessed many notable milestones for MetLife Hong
Kong, including moving up to the 8th rank in the market*. This marks
a jump up by 4 positions since ranking 12th during
the fourth quarter of 2016. With 457% year-over-year
business growth in the first quarter of 2017*, MetLife Hong Kong is one of the
fastest growing life insurers in the market*, with sustainable growth of agency
force, and brokerage business growth of over 5 times year-on-year*.

MetLife Hong Kong management shared the company's performance in the first quarter of 2017 and business strategies. (Left to right : Bobby Ying, Head of Strategic Partnership Distribution; Eva Wong, Chief Agency Officer; Lee Wood, Chief Executive Officer; Frankie Nip, Chief Actuary and Carolyn Chung, Head of Corporate Marketing and Communications).
Mr.
Lee Wood, Chief Executive Officer of MetLife Hong Kong, said, "We are very excited that MetLife Hong Kong has
made an outstanding start to 2017. Underpinning the success is a business
strategy focused on product innovation, customer centricity, and the expansion
of our agency, brokerage and telemarketing business. But our work in Hong Kong
is far from done. Our mission is to become one of the leading life insurers in
the market and the trusted advisor for our customers. MetLife
Hong Kong continues to deliver a strong track record of business growth, in
tandem with our ongoing commitment to pursuing product and service excellence,
navigating life together with our customers."
With a solid
foundation set, MetLife Hong Kong's strategy for
the year is to build on its surging momentum with a focus on 4 key pillars:
expansion of diversified distribution channels, product innovation, a refreshed
brand, and digital transformation.
1) Expansion
of Diversified Distribution Channels
MetLife Hong
Kong will continue to provide high-quality advice to customers and meet their needs
through diversified distribution channels, including its professional and
energetic agent force, professional broker-network and niche telemarketing channel.
- Agency Force - MetLife Hong Kong has
built its agency force to over 900 agents and will continue to grow, setting
MetLife Hong Kong well on track to reach its goal of 1,500 agents by 2018.
- Brokerage - MetLife
Hong Kong's high-growth brokerage business is ranked 2nd as of the
first quarter of 2017*. Its brokerage business volume has registered
a year-over-year growth of over 5 times*.
- Telemarketing - MetLife
Hong Kong's telemarketing remains the 2nd largest direct channel*
in Hong Kong with over 10 years of experience.
2) Product
Innovation
Making use of insights from technology and data,
MetLife Hong Kong is dedicated to identifying customers' insurance protection
and savings needs. By creating innovative, customer-oriented
insurance solutions, MetLife Hong Kong consistently responds to customers'
needs that continue to evolve, and addresses their health and wellness
concerns.
Typical critical
illness insurance products provide a lump sum payment for immediate or one-off
financial support for treatment. However, the incidence rates of certain
critical illnesses such as stroke, kidney failure and advanced dementia that
cause lifelong impacts and long-term care expenses are increasing, and many
patients with critical illnesses are living longer than ever. In view of these health
trends and customers' needs, MetLife Hong Kong has gone beyond the typical
critical illness insurance in developing MetLife Healthcare Companion Critical
Illness Annuity. Key features include:
- The
first impaired annuity product in the Hong Kong market that continuously provides annuity payouts
even if the insured person recovers subsequently
- Steady
stream of guaranteed annuity payouts for long-term care expenses
and income supplement up to age 100, beginning upon diagnosis of any of the
covered critical illnesses
- Waiver of premium
upon confirmed diagnosis of any of the covered critical illnesses
3) Refreshed
Brand Committed to Hong Kong
With MetLife,
Inc.'s strong history of 149 years, MetLife Hong Kong has launched a series of
innovative and interactive initiatives under the theme "149 Reasons why #WeLove
Hong Kong", and is using signature local items to remind local people how
MetLife Hong Kong partners with customers in every aspect of life. The hallmark
initiatives include out-of-home advertising, ice-cream kombi, and a 3D pop-up
"#WeLove" photo opportunity to encourage
Hong Kong people to share what they love about the city, creating dialogue that
helps MetLife Hong Kong understand customers' needs and show that it truly
cares for customers.
4) Digital
Transformation Enhancing Customer Experience
MetLife
Hong Kong is leading a digital transformation. As a trusted advisor for
customers, MetLife Hong Kong has been striving for service excellence by
creating a new, highly engaging digital tool that changes how customers
experience insurance. Customers will be actively engaged in the whole journey
from discovering and visualizing their protection and savings needs, to
co-creating a personalized solution together with MetLife advisors. Making use of insights from technology and data, this innovative
digital tool will also enable MetLife advisors
to deliver the right solutions for the right customers by better identifying
customers' needs and protection gap.
Mr. Lee Wood said,
"Being customer centric -- putting
customers at the heart of everything we do -- is a commitment we have made at
MetLife Hong Kong. Today's customers demand more innovative, flexible and
personalized solutions from their financial advisors and insurance providers. Our
ability to innovate and stay ahead of the curve has been instrumental to our
success. Our agency force, brokerage business and telemarketing team are
cornerstones for our growth here, and we will continue our commitment to focus
on delivering innovative, customer-centric products and services in Hong Kong.
With
our talented workforce, top-notch financial strength, and differentiated brand,
I am confident that 2017 will continue to be a year of growth and expansion."
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
and Metropolitan Life Insurance Company of Hong Kong Limited (collectively
"MetLife Hong Kong") are wholly-owned subsidiaries of MetLife, Inc. in Hong
Kong and private companies limited by shares incorporated and registered under
the applicable laws in Hong Kong. Both MetLife Limited and Metropolitan Life
Insurance Company of Hong Kong Limited are authorized insurers carrying long
term business in Hong Kong.
* Based on the New Business Annual Premium
Equivalent according to the Quarterly Release of Provisional Statistics for
Long Term Business 1Q 2017 from the Office of the Commissioner of Insurance.
# Based on non-banking assets according to A.M.
Best research 2012 data, Best's Review July 2014.
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