HONG KONG, July 5, 2023 /PRNewswire/ -- Zurich Insurance (Hong Kong) ("Zurich") is committed to creating long-term value for its stakeholders, while making a positive impact on the environment and the communities it serves. Zurich takes proactive actions to implement sustainable practices in the business and continuously develop ever more innovative products for customers. The eight awards proudly won by Zurich in the first half of 2023 are a testament to this commitment.
Eric Hui, CEO of Zurich Insurance (Hong Kong), commented, "We are honored to have been recognized with these awards for our dedication to ESG and to our customers. It is a testament to the hard work and commitment of our team, who have gone above and beyond to embed sustainable practices in our business operations and develop innovative products that make us standout in the market. We are also proud to be living our promises, as Zurich Insurance Group is the first insurer to commit Paris Agreement and has gained the highest ESG rating of AAA from MSCI."
(From left to right) Ivy Kam - Senior Underwriting Manager, Erik Choi - Head of Propositions, Life Business, and Kannes Wong - Head of Strategy and Planning, Sustainable Officer received travel insurance, ILAS and ESG related trophies respectively.
ILAS pioneer enabling responsible investment
As one of the pioneers and market leaders of investment-linked assurance scheme (ILAS) in Hong Kong, Zurich prides in its innovation that facilitates customers' wealth succession across generations as well as responsible investments. Zurich has significantly enriched its ESG investment choices with 34 choices in its latest investment-linked insurance schemes, thereby ranking top in the insurance industry in Hong Kong based on the impressive number of ESG investment choice available. Its ILAS products proudly scooped four awards in H1 2023, including:
First in market to launch a new travel insurance to address the challenges facing by travelers during COVID-19
Zurich is pleased to garner the "Award for Excellence in Travel Insurance" presented by Ming Pao Awards for Excellence in Finance 2023, in recognition of Zurich's pioneering, customer-centric and responsive travel insurance strategy. We were the first insurer in the market to launch the brand-new travel insurance product in July last year as a quick response to the surge in demand for protection against COVID-19. This industry achievement reaffirms Zurich's successful initiative and unwavering commitment to providing products and services that suit customers' diverse needs.
ESG and Sustainability at the forefront, leading the way with accolades
Zurich Insurance Group aspires to be one of the most responsible and impactful businesses in the world, and targets to achieve net-zero emissions in operations by 2030. In Hong Kong, the company continuously pushes the boundaries in ESG and sustainability, and was recognized with three prestigious awards in H1 2023:
These accolades serve as a testament to Zurich's dedication to sustainable business practices and innovative product development, and inspire the company to continue pushing the boundaries of what's possible for the betterment of the planet, customers and people.
[1 ] Statement based on comparison results as of May 15, 2023.
About Zurich
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) currently ranks fourth in the general insurance market[1] and ranks fifth in the ILAS market[2] in Hong Kong. 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 2022, based on gross premium.
[2] Annual statistics of the Insurance Authority on Hong Kong long term insurance business from January to December 2022, based on the number of policies and premiums of in-force business of investment-linked life insurance.
Zurich Insurance Group is a leading multi-line insurer serving people and businesses in more than 200 countries and territories. Founded 150 years ago, Zurich is transforming insurance. In addition to providing insurance protection, Zurich is increasingly offering prevention services such as those that promote wellbeing and enhance climate resilience.
Reflecting its purpose to 'create a brighter future together', Zurich aspires to be one of the most responsible and impactful businesses in the world. It is targeting net-zero emissions by 2050 and has the highest-possible ESG rating from MSCI. In 2020, Zurich launched the Zurich Forest project to support reforestation and biodiversity restoration in Brazil.
The Group has about 60,000 employees and is headquartered in Zurich, Switzerland. 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 is available at www.zurich.com.