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Standard Life, the UK-based insurance and financial services provider, today (January 16) announced its business relaunch in Hong Kong. The Group intends to transform its current insurance business into one that provides comprehensive asset accumulation and wealth protection services.
The CEO of Standard Life Asia, Mr Alan Armitage, described the company's transformation. He said, "Standard Life is entering an exciting phase of development in the region, with the relaunch of our Hong Kong business. With the full backing for the Standard Life Group, we have the brand, customer service excellence and financial expertise to meet the ever evolving financial needs of the Hong Kong consumer."
Adhering to the Group's brand positioning of being "alive to life", Standard Life aims to help address the financial needs of Hong Kong consumers by providing them with a set of products for protection, savings and investment and retirement needs. The company will expand its in-house product range and partner with external organisations to offer customers solutions that meet their lifetime requirements for asset accumulation and protection.
"Standard Life will continue to distribute products through brokers and independent financial advisers (IFAs). Brokers and IFAs help customers to plan for the future by creating investment strategies to achieve the best possible returns for customers," added Mr Armitage.
"We believe we are particularly well placed to help Hong Kong consumers make the right financial choices, and we are confident that our business in Hong Kong will do well."
The Associate Director-General of Investment Promotion at Invest Hong Kong, Mr Simon Galpin, welcomed Standard Life's relaunch in Hong Kong. He said, "Hong Kong is firmly established as the leading financial services centre for Asia and Greater China. Growing popularity of investment-linked products and increasing demand for niche insurance products create exciting potential growth for global insurance providers. We are happy to see a leading financial services company expanding its presence in Hong Kong to tap the very attractive opportunities here. We at InvestHK look forward to continuing to work with Standard Life to support their further development."
Standard Life is a financial services group with principal activities which include providing life assurance and pensions, investment management, banking and healthcare insurance products. It has approximately 10,000 employees spread across the UK, Canada, Ireland, Germany, Austria, India, Hong Kong and Mainland China. On July 10, 2006, Standard Life plc was listed on the London Stock Exchange.
Invest Hong Kong is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating inward investment into the city by providing the support needed to establish a business presence here. For more information, please visit the website at www.investhk.gov.hk.
Ends/Tuesday, January 16, 2007
Issued at HKT 16:28
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