The award marks the fourth time the Company has been lauded as a leader in the Industry
HONG KONG, Jan. 17, 2022 /PRNewswire/ — Transamerica Life (Bermuda) Ltd. (TLB), a leading High Net Worth (HNW) life insurance provider, once again received Industry recognition by winning the "Outstanding Responsible Insurer" award and "Best-in-Class – Universal Life Product" award for our Universal Life Alpha (ULA) Pro & Pro Century products at the 12th Benchmark Wealth Management Awards 2021 (BENCHMARK) in Hong Kong.
This is the fourth time that TLB was recognised by BENCHMARK and it was TLB’s first time winning in the "Outstanding Responsible Insurer" category. With its singular focus on serving HNW and Ultra High Net Worth customers, TLB has extensive experience in handling large sums assured and complex cases to support legacy and business planning for its customers.
The "Outstanding Responsible Insurer" award recognises TLB’s efforts and strong commitment in building a sustainable, socially responsible Company. TLB aims to make a positive impact in its community and the environment so as to create lasting value for its customers and business partners.
In the universal life product category, TLB was awarded Best-In-Class. ULA Pro and Pro Century were launched in April last year and were based on TLB’s award-winning Universal Life Alpha Private Series product. ULA Pro and Pro Century were refreshed for today’s market environment, offering a suite of improvements to meet broader customer needs. The new enhanced plans provide a unique combination of permanent life insurance coverage, cash value growth potential, and inherent design flexibilities that HNW individuals’ desire.
"We are very excited to win in these two honorable categories at the BENCHMARK Wealth Management Awards this year. Our drive to really understand the unique challenges that our HNW customers face and provide them with tailored, innovative financial solutions is part of our purpose of helping customers achieve a lifetime of financial security and peace of mind. We remain committed to providing premium service and finding ways to add more value to our customers and business partners," said Chirag Rathod, CEO of TLB.
"While Hong Kong may be experiencing its most challenging times in history and insurance is no doubt one of the hardest-hit sectors, companies are finding excuses not to uphold disciplines for investor protection. Our winners, on the other hand, went miles ahead and did more for their customers." said Elsa Pau, the Group CEO of WealthAsia Media, the organiser for BENCHMARK.
"During these difficult times, we have not compromised our standards and quality to crown our winners by making Sustainability a highly focused topic when assessing our candidates on responsible investing policies and responsibility to fulfill their protection promises."
About Transamerica Life (Bermuda) Ltd.:
Transamerica Life (Bermuda) Ltd. (TLB) is a recognised leading HNW life insurance provider with extensive expertise in all aspects of HNW wealth protection, including handling large sums assured and complex cases supporting legacy and business planning. Transamerica has been in Asia for over 80 years and has been a pioneer in managing universal life portfolios for over 40 years. TLB was awarded an "Outstanding Achiever" award at the 10th BENCHMARK Wealth Management Awards in Hong Kong in the category for "High Net Worth Client Servicing" in 2019. TLB is part of the Aegon Group, a leading, international financial services group providing life insurance, pensions and asset management based in The Hague, Netherlands. Further information about TLB is available here: www.transamericalifebermuda.com
The 12th year BENCHMARK assesses insurance companies by highly qualified industry veterans across six pillars: Value for Money, Client Support, Digital, Brand Strength, Governance, and Sustainability. In conjunction with BlueOnion, BENCHMARK’s sister company in ESG data aggregation and analysis, BENCHMARK undertakes a mission to expose Green, Blue, SDG, and Sustainability washing. Insurers who have scored the highest over 22 Environment, Social, Governance, and Climate KPIs are recognised for their contribution this year.