BOC Life and Serensia Woods Sign a Strategic Cooperation Agreement

Launching the First All-New Cooperation Project on ‘Insurance + Wellness and Retirement’ 
across Guangdong, Hong Kong and Macao under the ‘Guangdong-Macao In-Depth Cooperation Zone in Hengqin’ Initiative

BOC Group Life Assurance Company Limited (‘BOC Life’) today (15 November) entered into a Strategic Cooperation Agreement with SW Wellbeing Holdings Limited (‘Serensia Woods’), a subsidiary of Macao-based HN Group, marking the first cooperation project on ‘insurance + wellness and retirement’ across Guangdong, Hong Kong and Macao under the ‘Guangdong-Macao In-Depth Cooperation Zone in Hengqin’ initiative. It is also BOC Life’s first strategic cooperation project in the ‘Guangdong-Macao In-Depth Cooperation Zone in Hengqin’. BOC Life is Serensia Woods’ exclusive life insurance partner in Hong Kong, as well as their first life insurance partner in the Greater Bay Area (‘GBA’). The Agreement, as witnessed by Mrs. Ann Kung, Bank of China (Hong Kong) Deputy Chief Executive and Ms. Amber Li, President of HN Group, was signed by Mr. Wilson Tang, Chief Executive of BOC Life and Mr. Rodrigo Yang, Chairman and Founder of Serensia Woods.

Mr. Wilson Tang, Chief Executive of BOC Life, said: “By proactively capturing the new business opportunities on retirement arising from favourable policies, BOC Life is actively developing our retirement and financial business. In line with the Mainland’s increasing emphasis on the elderly sector, the Bank of China Group is incorporating retirement and financial services into its development strategy. This could also strengthen regional cooperation and unleash synergistic potential within the Bank of China Group. In a collective effort with Serensia Woods in the GBA, BOC Life wishes to forge a business ecosystem for ‘insurance + wellness and retirement’. We aim to build a premium wellness and retirement brand to reinforce BOC Life’s status as a Retirement Expert while providing Hong Kong and Macao customers with more quality retirement choices.” 

Mr. Rodrigo Yang, Chairman and Founder of Serensia Woods, said: “With a vision of providing high-end and innovative wellness services, Serensia Woods has established the first site in Greater China integrating preventive medicine, anti-aging treatment, retirement vacation and blissful living. Serensia Woods promotes a novel lifestyle where wellness is a key part of daily life. Based on the concept of sustainable aging, we provide solutions to help people lead healthier and more colourful lives. We are very honoured to be the partner of BOC Life’s first strategic cooperation project in the ‘Guangdong-Macao In-Depth Cooperation Zone in Hengqin’, as well as having BOC Life as our first insurance strategic partner in the GBA. With the continuous support from BOC Life, we look forward to further exploring the best practice in sustainable aging, which will benefit society as a whole.”

Premised on law abidance, regulatory compliance and risk control, the Strategic Cooperation Agreement signed by the two parties lays out areas for further exploration and cooperation, including:

1.    An innovative business model pooling resources together for ‘insurance + wellness and retirement’: Study and formulate an innovative business model for combining resources in ‘insurance + wellness and retirement’. Provide and develop specific retirement and health insurance products for the industry. Enhance and improve retirement and health insurance product lines by catering to customer needs for retirement and healthcare protection at different life stages. Provide customers with wellness-oriented value-added services by leveraging the wellness and retirement resources of Serensia Woods.

2.    Join forces to create a wellness and retirement brand: Explore the building of a wellness and retirement brand, enhance the influence of both brands in GBA’s wellness and retirement market, strive to promote the co-developed products and services as top choices in the industry.

3.    Explore cooperation in ‘Serensia Woods Phase II’: Look into the feasibility of jointly investing in, planning and developing the second phase of the Serensia Woods project, riding on the resources, products, services and operating strengths of the two parties.

This strategic cooperation marked a new milestone on the ecosystem of GBA’s wellness services for BOC Life and Serensia Woods. Leveraging efforts with such new initiative by both parties, to build up a Hong Kong and Macao style retirement and financial services model, to bring innovations and new developments to Hong Kong Macao wellness and retirement industry, to set new visions and standards of GBA’s ‘insurance + wellness and retirement’ services.