The firm gave figures showing that at the end of 2023, the wealth and asset management sector in Hong Kong and surrounding area reached almost $4 trillion in assets, with more than half sourced from non-Hong Kong residents.

Chubb Life Hong Kong, part of US-listed Chubb, has launched its first wealth centre, Chubb 1792 Club. It is located at The Gateway in Tsim Sha Tsui, a business and tourism district in Hong Kong.

The centre aims to serve the health and wealth needs of affluent customers and high net worth individuals in the city, and incoming visitors.

Chubb 1792 Club takes its name from when Chubb was founded in the late 18th century. The centre will have a nearly 10,000-square-foot lounge designed to deliver bespoke wealth management services and cultivate business opportunities.

The firm is tapping into a rise in the wealth and number of HNW people in Hong Kong and surrounding area. By the end of 2023, the asset and wealth management sector reached HK$31.2 trillion ($3.97 trillion), with 64 per cent of assets sourced from non-Hong Kong residents.

Separately, the firm said that Chubb Life HK has expanded its portfolio with tailored insurance solutions, including its flagship Chubb MyLegacy Insurance Plan III, and its Future Achiever Savings Plan II and Infinity Prestige Life Insurance Plan.
 

(Photo: left to right: Joan Tam, head of brokerage, Chubb Life Hong Kong; Ivy Cheung, chief marketing officer, Chubb Life Hong Kong; Eric Ng Tung Hing, global chief financial officer, Chubb Life; Belinda Au, president of Hong Kong and head of North Asia, Chubb Life Hong Kong; Bryce Johns, global president, Chubb Life; and William Man, chief operating officer, Chubb Life Hong Kong.)