News Column

MetLife HK Raises Interest Rates on Dividend and Coupon Accumulation for USD Policies

July 29, 2014



By a News Reporter-Staff News Editor at China Weekly News -- - MetLife Hong Kong announced an increase in interest rates to 4.5% per annum on all participating MetLife Hong Kong dividend accumulation and guaranteed cash coupon policies denominated in US dollars with immediate effect.

The decision to raise rates on these policies by approximately up to 75 basis points -- different rate structures exist across different policies -- reflects the actual experience of our investment return.

MetLife Limited and Metropolitan Life Insurance Company of Hong Kong Limited (collectively "MetLife Hong Kong"), the wholly-owned subsidiary of MetLife, Inc., the largest life insurance company inthe United States*, is the first insurer(1) inHong Kong to make this move in 2014, one that will mean better returns for its policyholders.

"At MetLife Hong Kong, we keep a close eye on market trends and try to stay one step ahead. We're also a customer-centric company. The decision to raise rates on these policies will improve returns and reflects our ongoing effort to provide the most competitive and attractive products," saidLennard Yong, Chief Executive Officer at MetLife Hong Kong.

The new rate of 4.5% is one of the highest(1) for participating US dollar dividend and coupon accumulation policies among the major insurance market players inHong Kong.

For all participating policies issued by MetLife Hong Kong, dividends and/or cash coupons paid to policyholders can be left with MetLife Hong Kong to accumulate with interest at a rate based on market conditions and investment performance. The interest rates offered are usually more competitive than a time deposit savings rate available from banks.

Keywords for this news article include: Asia, China, Hong Kong, Insurance Companies, MetLife Hong Kong.

Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2014, NewsRx LLC


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Source: China Weekly News


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