Chow Tai Fook Life shines on the stage, continuously creating new value in insurance

Futong Insurance Co., Ltd. officially renamed to Chow Tai Fook Life Insurance Co., Ltd. ("Chow Tai Fook Life") on July 22, 2024, and simultaneously launched a new brand image and the "Chow Tai Fook Life Circle" membership program, linking with the diversified business system of Chow Tai Fook Group to bring customers a high-quality life experience.

Chow Tai Fook Life has been rooted in Hong Kong for nearly 40 years, providing a range of diversified insurance and financial planning products and services, covering life protection, savings plans, medical insurance, accident insurance, and investment-linked life insurance plans. It is a wholly-owned subsidiary of the newly established group company under Chow Tai Fook Group (Hong Kong stock code: 659) and is also one of the largest life insurance companies in Hong Kong.

Ye Wenjie, CEO of Chow Tai Fook Life, stated, "The new brand Chow Tai Fook Life signifies the close relationship between the company and Chow Tai Fook Group. On the one hand, it carries the nearly century-old brand foundation of loyalty and reliability of Chow Tai Fook Jewelry, which will further enhance customer confidence. On the other hand, the new corporate image will inject unlimited vitality into the company, help us explore more opportunities, unleash greater potential, drive business growth, and continuously create new insurance value with higher quality product services for different customers."

A new brand with unchanged commitment

The design of the new brand adopts lake green as the main color, symbolizing the continuous vitality, injecting strong power into the sustainable development of Chow Tai Fook Life; the overall color scheme is mainly earthy tones, showcasing the commitment of Chow Tai Fook Life to environmental protection, nature, and sustainable development. The four sets of flowing lines forming the brand story elements symbolize Chow Tai Fook Life's wholehearted guardianship of customers and their family's life journey through the four stages of "life, growth, health, and inheritance," creating an endless brilliant story with profound implications.

Despite the change in brand name, Chow Tai Fook Life still adheres to its commitment to customers and their families. With the new brand concept of "Creating New Insurance Value," Chow Tai Fook Life will further leverage the strong resources of Chow Tai Fook Group's diversified business system, dedicated to providing personalized ingenuity planning, lifelong protection, and premium experience for customers and their beloved families. Leveraging the group's financial strength and global investment layout, it will continue to create new insurance value.

Introducing the new "Chow Tai Fook Life Circle" membership program

To complement the brand upgrade and fully embody the brand concept, Chow Tai Fook Life also launched an all-in-one life platform, the "Chow Tai Fook Life Circle" membership program, offering "diverse experiences," "life privileges," and "membership synergy." The program includes diamond, gold, and basic three membership levels, where members can enjoy various exciting life privileges from different business units of Chow Tai Fook Group's diversified business system, covering hotels, dining, education, and health services, among others. The program can also connect with other synergy memberships of the group, including New World CLUB and KLUB 11 in the first phase, and will expand to CTF Club (Chow Tai Fook Jewelry's membership program) and New Century Club (New World China's premium membership program) in the second phase to allow more customers from Hong Kong and mainland China to enjoy discounts.

A reputable brand, a guarantee of confidence Chow Tai Fook Life Insurance, with its strong financial strength and prudent operational strategies, has gained high recognition from international credit rating agencies. The company has received an A- rating from Fitch Ratings and an A3 rating from Moody's Investors Service. As of the end of 2023, the company's solvency ratio stands at a high 314%, far exceeding the minimum regulatory requirement of 150%. The solvency ratio under the Hong Kong Risk-Based Capital regime is approximately 272%, also well above the 100% prescribed capital requirement.

Chow Tai Fook Life Insurance's investment strategy aims to achieve long-term investment goals and reduce investment return volatility by covering different asset classes, regions, and industries in its investment portfolio to control and diversify risks. The strength of the team is directly reflected in its product offerings - its three flagship product series, the "Legacy" series, the "Guardian 168" series, and the "Love Abundance" series, have achieved a dividend realization rate of 100% or above since their launch 8 years ago, demonstrating the company's firm commitment and strength in meeting expected goals and satisfying customer expectations.

Furthermore, Chow Tai Fook Life Insurance is committed to enhancing the digital customer experience and fulfilling its service promise of "customer-centricity." Through collaboration with the group's internal innovation enterprises and leveraging the advantages of a diversified business system, the company is driving digital innovation, insurtech, data analysis, and artificial intelligence applications to accelerate business digital transformation. This aims to provide excellent service and experiences to customers and distribution channels, creating new value in the insurance industry.

As for Chow Tai Fook Group, a diversified international enterprise, its businesses span across real estate, hotels, finance, department stores, healthcare, facility management, culture, logistics, education, technology, infrastructure, and other industries. The group has established Chow Tai Fook Financial Centers in Guangzhou and Tianjin, which are large integrated complexes combining K11 shopping art centers, Grade A office buildings, five-star hotels, and various other formats. Additionally, it owns the Chow Tai Fook Financial Building in Shenzhen Qianhai and the upcoming Wuhan Chow Tai Fook Financial Center. The flagship companies within the group include Chow Tai Fook Jewellery, New World Development, New Century Group, and The Murray, Hong Kong, with a total asset value of nearly HKD 800 billion. This extensive business network and strong financial strength not only demonstrate the group's market position but also serve as a solid guarantee of customer confidence.

It is believed that this renaming will highlight the close connection with Chow Tai Fook Group. The collaboration among different business departments within the group will benefit Chow Tai Fook Life Insurance in expanding more internal and external strategic cooperation resources, achieving greater synergies, and continuously creating new value in the insurance industry. The future of Chow Tai Fook Life Insurance is highly anticipated.

\* This is internal assessment data; the new regime took effect on July 1, 2024