Scottsdale Global Assurance, a Subsidiary of Scottsdale Futures and Options Limited, Targets Growth of at Least 14%
London, United Kingdom, March 20, 2009 --(PR.com)-- Scottsdale Global Assurance (SGA, a subsidiary of Scottsdale Futures and Options Limited), one of Asia's largest life insurer, projects that its business will grow by at least 14% this year, despite the region's flagging economy and a fallout from the world’s largest insurers.
General Manager Scott Morrison said the company was still committed to growing 14%, both in new business and in total written premiums, regardless of negative factors.
According to Asia-wide Life Assurance Association statistics, at the end of 2008 SGA had first-year premiums (ordinary, industrial, group and personal accident) worth US$728 Million, a rise of 3%. Its total premiums were US$1.53 Billion, up 7% from 2007.
Mr. Morrison attributed the rise to Asian consumers' growing understanding of life insurance products and the hard work of sales representatives in reassuring consumers of the company's continued financial strength, as well as the regular introduction of innovative products.
The company yesterday re-launched its SGA Global Life Policy, offering high flexibility and a guaranteed minimum return.
SGA Global Life combines whole-life policy features with an investment policy. Policyholders can choose how much life protection and savings they want, as well as the premium amount and payment period. Policyholders who need money can withdraw part of the policy value or take a premium holiday depending on their needs.
The GL policy guarantees a 2% minimum return in the first year and a 1% average yield on the investment portfolio. The company currently offers a 7% return on all new premiums in the first year and a 3.6% average yield on investment portfolios.
According to Mr. Morrison, SGA expects the GL product to generate about US$53 Million this year, up from 5 to 8 million dollars last year.
The GL policy re-launch came shortly after the launch last month of SGALink, Asia's first unit-linked life insurance product with the features of a mutual fund and single-premium whole-life insurance.
SGALink offers life coverage of a minimum of 110% of the first premium along with investment opportunities in selected mutual funds managed by four companies: Aberdeen Holdings, First Wachovia Asset Management, Premium Fund Management and BAL Asset Management.
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General Manager Scott Morrison said the company was still committed to growing 14%, both in new business and in total written premiums, regardless of negative factors.
According to Asia-wide Life Assurance Association statistics, at the end of 2008 SGA had first-year premiums (ordinary, industrial, group and personal accident) worth US$728 Million, a rise of 3%. Its total premiums were US$1.53 Billion, up 7% from 2007.
Mr. Morrison attributed the rise to Asian consumers' growing understanding of life insurance products and the hard work of sales representatives in reassuring consumers of the company's continued financial strength, as well as the regular introduction of innovative products.
The company yesterday re-launched its SGA Global Life Policy, offering high flexibility and a guaranteed minimum return.
SGA Global Life combines whole-life policy features with an investment policy. Policyholders can choose how much life protection and savings they want, as well as the premium amount and payment period. Policyholders who need money can withdraw part of the policy value or take a premium holiday depending on their needs.
The GL policy guarantees a 2% minimum return in the first year and a 1% average yield on the investment portfolio. The company currently offers a 7% return on all new premiums in the first year and a 3.6% average yield on investment portfolios.
According to Mr. Morrison, SGA expects the GL product to generate about US$53 Million this year, up from 5 to 8 million dollars last year.
The GL policy re-launch came shortly after the launch last month of SGALink, Asia's first unit-linked life insurance product with the features of a mutual fund and single-premium whole-life insurance.
SGALink offers life coverage of a minimum of 110% of the first premium along with investment opportunities in selected mutual funds managed by four companies: Aberdeen Holdings, First Wachovia Asset Management, Premium Fund Management and BAL Asset Management.
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Contact
Scottsdale Futures and Options Limited
Richard Smith
+44 20 3026 1592
www.scottsdalefutures.com
Richard Smith
+44 20 3026 1592
www.scottsdalefutures.com
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