Chubb debuts wealth hub to serve elite clients

Hong Kong centre targets affluent locals and cross-border visitors

Chubb debuts wealth hub to serve elite clients

Life & Health

By Roxanne Libatique

Chubb Life Hong Kong has opened the Chubb 1792 Club, a new facility in Tsim Sha Tsui designed to support its insurance and wealth management operations.

Positioned in a prime commercial and tourism district, the centre is set to offer tailored financial protection and wealth planning services to affluent and high-net-worth (HNW) clients, including overseas visitors.

The launch is part of Chubb’s strategy to expand its footprint in Hong Kong’s insurance market, where international inflows of assets and rising demand for life and medical insurance are shaping growth. The name “1792” references Chubb’s founding year and reflects the brand’s legacy.

“The launch of Chubb 1792 Club represents a bold leap in our continued expansion in the wealth management space. It reflects our long-standing commitment to serving the evolving needs of customers with differentiated, high-touch solutions that go beyond traditional insurance,” said Belinda Au (pictured centre), president of Chubb Life Hong Kong and head of North Asia.

Rising insurance demand among mainland visitors

Hong Kong’s insurance sector has experienced increased demand from non-residents, particularly from the Mainland Chinese market.

Official statistics show that the city’s asset and wealth management industry had grown to HK$31.2 trillion by the end of 2023, with non-Hong Kong residents accounting for 64% of those assets.

Life insurance has been a major driver, with 2024 sales to Mainland Chinese visitors reaching HK$62.8 billion, a 6.5% rise from the prior year. Products like critical illness and medical plans have been especially popular.

To serve this expanding client base, Chubb Life has introduced new offerings, such as the MyLegacy Insurance Plan III, the Future Achiever Savings Plan II, and the Infinity Prestige Life Insurance Plan. These products focus on wealth accumulation, preservation, and succession planning.

Health Up introduced as digital insurance product

Chubb Life Hong Kong also launched “Health Up,” a digital product combining term life and accidental death insurance with annual wellness benefits.

Targeted at individuals aged 18 to 55, the plan does not require medical exams or financial disclosures and is distributed entirely online.

At an annual cost of HK$800, policyholders can access a range of health-related services provided by partners including EC Healthcare, Doctor’s Choice, Comvita, and Eu Yan Sang.

Each year, participants may choose one service or product, such as health screenings, dental cleanings, or dietary supplements.

The product integrates with the MoneyBack App, allowing users to collect loyalty points and receive purchasing discounts. Partner networks, including JP Partners Medical and Vita Green, are offering a 30% discount on the plan without an expiration period.

“We recognise the importance of a comprehensive and holistic approach to personal protection, health, and well-being in today’s environment. With Health Up’s simplicity and seamless online application process, we believe Health Up will encourage our customers to adopt lifestyles that prioritise their personal well-being and enhance their overall health and wellness,” Au said.

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