AXA launches "FortuneXtra Savings Plan"

HONG KONG,Jan. 10,2022 -- AXA Hong Kong and Macau (AXA)today announced the launch of "FortuneXtra Savings Plan" ("FortuneXtra") to help customers seize currency potentials and accelerate wealth building with exceptional flexibility to suit changing trends and needs.

Kevin Chor,Chief Life and Health Insurance Officer,AXA Hong Kong and Macau,said,"In September 2021,Hong Kong recorded a 6-year record high for non-US Dollar foreign currency deposits,equivalent to over HKD 2 trillions. In particular,RMB customer deposits increased by more than 25% YoY[1]. We observed a huge market demand for foreign currencies which is subsequently validated by the survey[2]jointly conducted by AXA and an independent research agency in November 2021.

70% of the respondents currently possess foreign currency savings or investment,among which,insurance products come as the third most common investment vehicle after bank deposits and stocks. In terms of favoured currencies,Euro is one of their top choices other than USD and RMB. Many people are looking for flexible saving vehicles with good returns to help them fulfil their changing needs in different life stages,such as wealth accumulation,preparation for an education fund,legacy planning,overseas property investments and retirement planning.These survey findings inspired us to launch FortuneXtra which provides exceptional potential return and unmatched flexibility to meet the market needs,underscoring AXA's commitment to be a life-long partner to our customers."

Four notable features of FortuneXtra include:

1) Meeting global citizen lifestyle and maximising wealth accumulation advantage with market-highest policy currency options[3],including market-unique Euro

FortuneXtra provides a choice of up to 9 policy currency options,offering the most options in the market[3],including Renminbi (RMB),United States Dollar (USD),British Pound (GBP),Euro (EUR),Canadian Dollar (CAD),Australian Dollar (AUD),Singapore Dollar (SGD),Hong Kong Dollar (HKD) and Macau Pataca (MOP; only for policies issued in Macau),each offering competitive potential return. Among the currencies,Euro is uniquely available in FortuneXtra[3],promptly responding to the emerging market needs.

2) Exceptional flexibility to meet changing needs with free currency conversion in whole or in part

FortuneXtra (both 5-year pay and 10-year pay) offers unlimited number of times[4]of full or partial policy currency conversion for free from the 3rd policy anniversary. Whether due to changes in life plan or shifts in global market opportunities,our customers can convert their policy to one of a different policy currency,in whole or in part,while keeping the same policy commencement date to ensure their wealth accumulation remains on track after the conversion. In particular,partial conversion is unique in market[3]and can help customers flexibly deal with different foreign currency needs at the same time.

3) Market-first[3]dual currency accounts to capture gains and accumulate interest

Unlike conventional savings insurance plans,FortuneXtra offers the opportunity to save in up to two currencies under the same policy. Starting from the 10th policy anniversary,customers can flexibly lock the policy value to capture market upside,turning non-guaranteed values into guaranteed. After that,dual currency accounts allow customers to earn competitive interests in policy currency or one of the other 8 available currencies as selected and make flexible withdrawals any time as they wish.

4) Grow generations of wealth and pass on legacy with change of the insured an unlimited number of times and foreign currency needs catered

While FortuneXtra is extremely flexible,it is also great for legacy planning. Customers can change the insured of the policy for an unlimited number of times,enabling them to share their legacy with the generations to come. What's more,inheritance solution coupled with the currency conversion capability can fully cater for the currency needs of the next generations and further enhance the flexibility of legacy planning.

From now until 9 February 2022,customers can enjoy up to 20% premium refund if they successfully apply for FortuneXtra.

For more information on FortuneXtra,please visit https://www.axa.com.hk/en/fortune-xtra-savings-plan.

The above information is for reference only. For details on premium refund and product features,content,terms and exclusions,please refer to the product brochure,policy provision and promotional leaflet.

About AXA Hong Kong and Macau

AXA Hong Kong and Macau is a member of the AXA Group,a leading global insurer with presence in 54 markets and serving 105 million customers worldwide. Our purpose is to act for human progress by protecting what matters.

As one of the most diversified insurers offering integrated solutions across Life,Health and General Insurance,our goal is to be the insurance and holistic wellness partner to the individuals,businesses and community we serve.

At the core of our service commitment is continuous product innovation and customer experience enrichment,which is achieved through actively listening to our customers and leveraging technology and digital transformation.

We embrace our responsibility to be a force for good to create shared value for our community. We are proud to be the first insurer in Hong Kong and Macau to address the important need of mental health through different products and services. For example,the Mind Charger function on our holistic wellness platform "AXA BetterMe",which is available via our mobile app Emma by AXA,is open to not just our customers,but the community at large. We will continue to foster social progress through our product offerings and community investment to support the sustainable development of Hong Kong and Macau.

THIS PRESS RELEASE IS AVAILABLE ON AXA'S WEBSITE: AXA.COM.HK

IMPORTANT LEGAL INFORMATION AND CAUTIONARY STATEMENTS CONCERNING FORWARD-LOOKING STATEMENTS

Certain statements contained herein may be forward-looking statements including,but not limited to,statements that are predictions of or indicate future events,trends,plans or objectives. Undue reliance should not be placed on such statements because,by their nature,they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause AXA's actual results to differ materially from those expressed or implied in the forward-looking statements. Please refer to Part 4 - "Risk factors and risk management" of AXA's Universal Registration Document for the year ended December 31,2019,for a description of certain important factors,risks and uncertainties that may affect AXA's business,and/or results of operations. AXA undertakes no obligation to publicly update or revise any of these forward-looking statements,whether to reflect new information,future events or circumstances or otherwise,except as part of applicable regulatory or legal obligations.

[1]Source: HKMA Monthly Statistical Bulletin (Sep 2021)

[2]The survey was conducted in Hong Kong in November 2021,with a total of 1,017 respondents who are aged 18 or above. Figures are weighed in relation to online population in Hong Kong.

[3]This is based on a comparison among participating savings plans with reversionary bonus available for new business provided by insurers which are covered in the Provisional Statistics on Hong Kong Long Term Insurance Business for January to June 2021 (in respect of life & annuity (non-linked (Class A)) individual business (direct new business)) published by the Insurance Authority. The comparison was made with reference to the information on the company website of the relevant insurers and other information available to AXA as of November 2021.

[4]Starting from the 3rd policy anniversary,one application for conversion can be made within one Policy Year; and application must be submitted within 30 days from each Policy Anniversary.