Generali has launched a new company called Generali Life (Hong Kong) to target high net worth and mass affluent customers.

Generali Life Hong Kong will offer a product range including traditional life, unit-linked and universal life insurance
for high net worth individuals and mass affluent customers.

Generali has been offering life and general insurance through different entities to individual and corporate clients in Hong Kong for almost 40 years.

The insurer said the launch of Generali Life Hong Kong further demonstrates Generali’s commitment to grow in Hong Kong and offer the best products and services to a rapidly growing customer segment.

Phuong Chung, CEO of Generali Life Hong Kong, said: "The creation of Generali Life Hong Kong puts us in a great position to leverage our strengths and capture the market opportunities. Hong Kong is a leading insurance and wealth management centre where we have seen a growing number of high net worth and mass affluent individuals looking for highly sophisticated solutions.

"As a leading global player with a solid track record in Europe and growing presence in Asia, Generali has the experience and capability to cater to these target customers."

Generali operates in ten Asian markets: Hong Kong, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, Thailand and Vietnam.