Zurich Hong Kong integrates ESG strategy into ILAS Scooping awards in Benchmark Wealth Management Awards 2021

Written by Zurich Insurance (Hong Kong)

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)^[2] ("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.

(From left to right) Jason Lee - Proposition Manager, Life Business, Geoffrey Au – CEO, Life Business, and Erik Choi - Head of Propositions, Life Business represented Zurich Hong Kong to receive the honors in the Benchmark Wealth Management Awards 2021. 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 ^[3]

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