Zurich Hong Kong is committed to sustainability and integrates ESG into its product development strategy
Its newest Investment-Linked Assurance Scheme has the highest number of ESG investment choices, with 19 ESG investment choices available, as compared to other similar products offered in the market1
Zurich Hong Kong won “Best-in-Class in Investment-linked Assurance Scheme (ILAS)” and “Responsible Insurer Award – Outstanding Responsible Insurer” and the Zurich Insurance Group won four other ESG awards in the Benchmark Wealth Management Awards 2021
HONG KONG SAR – Media OutReach – 23 February 2022– Zurich Insurance (Hong Kong) (“Zurich Hong Kong“) has long been committed in putting our sustainability vision into practice, and continue to push the boundary further in Environmental, Social and Governance (ESG) performance, to make scalable and lasting impact. Integrating ESG into its product development strategy, Zurich Hong Kong’s newest Investment-Linked Assurance Scheme (ILAS) has the highest number of ESG investment choices, with 19 ESG investment choices available, as compared to other similar products offered in the market1.
Geoffrey Au, CEO of Life Business, Zurich Hong Kong, said, “According to the Global Risks Report 20222, which Zurich Insurance Group (“Zurich”) jointly developed with the World Economic Forum, ‘climate action failure’ is ranked as the number one long-term threat to the world and the risk with potentially the most severe impacts over the next decade. That is why as a responsible insurer, Zurich Hong Kong has been implementing measures to address the impacts of a changing climate, underpinned by our commitment in ESG, making us the ‘Responsible Insurer Award – Outstanding Responsible Insurer’ winner in theBenchmark Wealth Management Awards 2021.”
“We walk the talk and actively engage with our customers. We are proud that our ILAS product is having the highest number of ESG investment choices in the local market, thereby enabling our customers to invest responsibly to extend the positive impact wherever possible. As one of the pioneers and market leaders of ILAS in Hong Kong, our strengths in ILAS have been recognized as ‘Investment-linked Assurance Scheme (ILAS) – Best-in-Class‘ in the aforesaid Awards as well.”
As a Group, Zurich is taking global measures to accelerate cuts in carbon emissions from its operations, reflecting the urgent need to respond to the climate crisis. The Group aims to be a net-zero emissions business by 2050, in line with the Paris Agreement’s goal to limit global warming to 1.5°C. While Zurich’s operations have been carbon neutral since 2014, it is committed to reducing its remaining greenhouse gas emissions by 50% by 2025 and by 70% by 2029. These examples testify the Group’s wins in the Benchmark Wealth Management Awards 2021:
Climate Award – Outstanding Achiever
Environmental Contribution Award – Outstanding Achiever
Social Contribution Award – Outstanding Achiever
Overall ESG Top 10 Percentile Awards
Apart from actions in combating climate change, Zurich Hong Kong will continue efforts in ESG in areas such as youth development, mental health support and community sustainability by engaging with our partners, customers, staff and the community.
1 Statement based on comparison results as of January 3, 2022. 2 Global Risks Report 2022 is published by World Economic Forum with the development with Zurich Insurance Group, Marsh McLennan and SK Group as well as National University of Singapore, University of Oxford’s Oxford Martin School and University of Pennsylvania’s Wharton Risk Management and Decision Processes Center, gathering insights from nearly 1,000 global experts and leaders with an analysis of key risks emanating from current economic, societal, environmental and technological tensions: https://www.zurich.com/en/knowledge/topics/global-risks/the-global-risks-report-2022
About Zurich Insurance (Hong Kong)
Zurich Insurance (Hong Kong) is part of the Zurich Insurance Group, with its presence in Hong Kong dating back to 1961. Since then, Zurich Insurance (Hong Kong) has been dedicated to serving the Hong Kong Community with a full range of flexible investment, life insurance and general insurance solutions for individuals, as well as commercial and corporate customers — attending to their insurance, protection and investment needs. Zurich Insurance (Hong Kong) is currently top five in the general insurance market1 and ranks fifth in the city’s ILAS market2. Please visit www.zurich.com.hk for more information of Zurich Insurance (Hong Kong).
1 Annual statistics of the Insurance Authority on Hong Kong General Business from January to December 2020, based on gross premium. 2 Annual statistics of the Insurance Authority on Hong Kong long term insurance business from January to December 2020, based on the number of policies and premiums of in-force business of investment-linked life insurance.
About Zurich Insurance Group (Zurich) Zurich Insurance Group (Zurich) is a leading multi-line insurer that serves its customers in global and local markets. With about 56,000 employees, it provides a wide range of property and casualty, and life insurance products and services in more than 210 countries and territories. Zurich’s customers include individuals, small businesses, and mid-sized and large companies, as well as multinational corporations. The Group is headquartered in Zurich, Switzerland, where it was founded in 1872. The holding company, Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX. Further information about Zurich is available at www.zurich.com.
The issuer is solely responsible for the content of this announcement.
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