Transamerica Life Bermuda Releases Updated Guide to High Net Worth Life Insurance

HONG KONG,July 19,2021 --Transamerica Life (Bermuda) Ltd. (TLB),a leading High Net Worth (HNW) life insurer,in partnership with Hubbis (HK) Limited ("Hubbis"),announced the release of the updated "Guide to HNW Life Insurance - a Practical Handbook for Financial Advisors 2021" ("Guide"). Sponsored by TLB as part of its Mastering High Net Worth (MHNW) programme,and prepared by Hubbis,this is the second edition of the Guide,and it re-emphasises TLB's commitment to helping financial advisors,brokers and wealth managers understand the key dimensions of HNW life insurance and how to apply it in practice.

Since the launch of the inaugural edition of the Guide in 2020,the world and global economy has undergone dramatic changes. The effects of the COVID pandemic have had significant knock-on effects to financial markets,as well as on the way of life for millions of people. Over the last year,the financial markets witnessed incredible volatility,and country lockdowns have created significant travel and personal restrictions,forcing many companies and industries,including the HNW life insurance industry,to accelerate their technology integration and find creative solutions on how to engage their customers digitally.

Despite the health and market uncertainty,however,the HNW and Ultra High Net Worth (UHNW) population remained robust,growing by nearly 8% in 2020,and Asia-Pacific remains one of the world's fastest growing major regions for HNW individuals (HNWIs),according to a recent study by WealthX. The pandemic has also increased awareness amongst HNWIs in the areas of health,longevity,and legacy planning. The result is that many HNWIs are now looking at life insurance as part of their overall protection and wealth management plans. Moreover,HNWIs who are business owners are also continuing to look to life insurance for business protection,including partnership coverage and insuring key employees in the event of an unexpected death.

"At TLB,we believe tremendous opportunities lie ahead for the HNW life insurance industry. During this time of economic uncertainty,the demands of HNWIs for financial solutions to help protect and maximise financial legacies are greater than ever. With a volatile environment comes the desire for certainty,and life insurance is a perfect vehicle to provide that certainty as well as peace of mind," said Chirag Rathod,CEO of TLB. "From the different personal and business protection needs of HNWIs to the types of life insurance products available that can meet different financial requirements,the updated,comprehensive Guide covers an array of topics on HNW life insurance utilisation,helping financial professionals to better serve their customers," he added.

"Hubbis is delighted to once again partner with Transamerica Life (Bermuda) Ltd. to release this updated version of the Guide. The HNW life insurance market has enormous potential and remains a fantastic opportunity for financial professionals," stated Michael Stanhope,Founder and CEO of Hubbis. "In these challenging times,financial practitioners must become more agile and customer centric in order to succeed. We hope this Guide will be a key resource for them in helping them to grasp the growth opportunity before them by assisting them in understanding the unique role that life insurance can play in their offerings to their clients."

As a leading life insurance company singularly focused on the HNW market,TLB is recognised for its award-winning products and services,as well as its expertise in handling large sums assured and complex cases supporting legacy and business planning. Launched in December 2019,TLB's MHNW program provides its distribution partners with specialised insights,ideas,and resources to help them better serve the needs of HNW customers. As the latest resource under TLB's MHNW program,the Guide aims to furnish financial professionals with an accessible tool to increase their knowledge and skills,helping them to maximise their opportunities in the growing HNW space.

"Guide to HNW Life Insurance - a Practical Handbook for Financial Advisors (2021)"is available to financial services professionals via Hubbis at https://pdf.hubbis.com/pdf/article/guide-to-hnw-life-insurance.pdf.

About Transamerica Life Bermuda:

Transamerica Life (Bermuda) Ltd. (TLB) is a recognised leading HNW life insurance provider with extensive expertise in all aspects of HNW wealth protection,including handling large sums assured and complex cases supporting legacy and business planning. Transamerica has been in Asia for over 80 years and has been a pioneer in managing universal life portfolios for almost 40 years. TLB was awarded an "Outstanding Achiever" award at the 10th Benchmark Wealth Management Awards in Hong Kong in the category for "High Net Worth Client Servicing" in 2019. TLB is part of the Aegon Group,a leading,international financial services group providing life insurance,pensions and asset management based in The Hague,Netherlands. Further information about TLB is available here: www.transamericalifebermuda.com

About Aegon:

Aegon's roots go back 175 years – to the first half of the nineteenth century. Since then,Aegon has grown into an international company,with businesses in more than 20 countries in the Americas,Europe and Asia. Today,Aegon is one of the world's leading financial services organisations,providing life insurance,pensions and asset management. Aegon's purpose is to help people achieve a lifetime of financial security. Further information about Aegon is available here: www.aegon.com.