BOC Life and the HKMC Form "HKMC Retire 3" Referral Partnership to Deepen Retirement Ecosystem and Diversified Retirement Solutions

BOC Group Life Assurance Company Limited ("BOC Life") today announced its collaboration with The Hong Kong Mortgage Corporation Limited ("HKMC"). Under the partnership, BOC Life has become an insurer authorised by the HKMC to refer its eligible customers to the "HKMC Retire 3" through its tied agency force. The "HKMC Retire 3" comprises the Policy Reverse Mortgage Programme (“PRMP”), the Reverse Mortgage Programme (“RMP”) and the HKMC Annuity Plan . 

This partnership further strengthens the retirement solutions portfolio offered by BOC Life’s tied agency force, providing customers with broader and more comprehensive retirement planning offerings. It also reinforces BOC Life’s commitment to enabling customers to achieve greater financial security and peace of mind throughout retirement. 

Joining Forces to Drive Strategic Synergy and Deepen the Retirement Ecosystem

As one of Hong Kong’s leading life insurers, BOC Life actively supports the HKSAR Government’s initiatives to promote the silver economy and address the challenges posed by ageing population. By continuously enhancing its retirement ecosystem, BOC Life is committed to providing customers with comprehensive protection, wealth management and retirement planning services. Through the partnership with the HKMC which possesses robust credibility and dedication to developing the retirement planning market, the tied agency force from the BOC Life wealth management team can refer to customers the “HKMC Retire 3” based on their respective needs, facilitate their selection of the most suitable retirement planning solutions. This initiative not only proactively responds to the pressing demand for retirement financial planning in an ageing society, but also helps citizens establish a stable retirement cash flow, effectively enhancing their quality of life in retirement. 

Mr. Wilson Tang, Chief Executive of BOC Life, said: "In view of the increasing global longevity trends and a complex economic environment, we believe retirement planning should extend beyond wealth accumulation to focus on continuous and stable post-retirement cash flow management. Our partnership with the HKMC represents not only a significant milestone in expanding BOC Life’s retirement ecosystem, but also embodies our customer-centric philosophy of evolving with the times. As the trusted life partner of our customers, we are committed to providing customers at different life stages with more comprehensive financial planning and retirement protection solutions. We look forward to helping more customers transform their assets into sustainable retirement income streams, empowering them to embrace a fulfilling and worry-free longevity with peace of mind.”

Overview of the “HKMC Retire 3” Offerings:

BOC Life and the HKMC form "HKMC Retire 3" referral partnership. Mr Wilson Tang, Chief Executive of BOC Life (left), and Mr Colin Pou, Executive Director and Chief Executive Officer of the HKMC (right), recently posed for a photo at the launch event of the collaboration.

(From left to right): Mr Billy Tang, Chief Agency Officer of BOC Life; Mr Xing Tao, Chief Risk Officer of BOC Life; Mr Amos Chan, Chief Operating Officer of BOC Life; Mr Alfred Cheung, Deputy Chief Executive and Chief Sales Officer of BOC Life; Mr Wilson Tang, Chief Executive of BOC Life; Mr Colin Pou, Executive Director and Chief Executive Officer of the HKMC; Ms Kitty Lai, Senior Vice President (Operations) of the HKMC / Executive Director and Chief Executive Officer of the HKMCI; Mr Daniel Leong, Executive Director and Chief Executive Officer of the HKMCA; Ms Angela Leung, Vice President (Marketing and Business Development) of the HKMC and Mr Kelvin Lee, Chief Operating Officer of the HKMCA

^Remark:

^{1. The PRMP and the RMP are operated by HKMC Insurance Limited (“HKMCI”), and the HKMC Annuity Plan is underwritten by HKMC Annuity Limited (“HKMCA”).  The HKMCI and the HKMCA are wholly-owned subsidiaries of the HKMC.}