| AIA Sets a New Record for Hong Kong Insurance
Industry with Over 1,000 Representatives Qualifying for MDRT Membership Accomplishment Marks New Milestone for Wealth Management Business |
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February 28, 2008, Hong Kong – American International Assurance Company (Bermuda) Limited (AIA) today announced that the company has set an unprecedented record for the Hong Kong insurance industry by becoming the first life insurer with 1,176 representatives qualifying for the Million Dollar Round Table (MDRT). Not only is this a record-breaking accomplishment for the Hong Kong insurance industry, the achievement has also raised Hong Kongˇ¦s profile in the international insurance industry. Mr Alwin Lam, Chairman of AIA Hong Kong and Macau said, "Being named to the 'MDRT 1000 is a significant accomplishment for AIA. Not only does it demonstrate both the strength of AIA's sales force and market leadership in Hong Kong, but it also underscores the professional standards and outstanding achievements of the region's insurance and financial services businesses." Over the years, AIA has consistently led in MDRT membership in Hong Kong, with more than 10 percent of its sales force qualifying as members. This is particularly significant as less than 1 percent of the sales force of the world's life insurance and financial services providers have achieved MDRT membership. Of the 1,176 MDRT qualifiers in AIA, 100 representatives qualified for the Court of the Table (COT) while 29 representatives qualified for Top of the Table (TOT). The sales requirements of COT and TOT are 3 and 6 times of the basic MDRT eligibility. Mr Derek Yung, Senior Vice President and General Manager of AIA Hong Kong and Macau added, "AIA has promoted for many years MDRT membership to its representatives as the premier benchmark of success. Through the launch of large-scale promotional activities, professional training, team initiatives, product innovation and sales support, we aim to help our representatives equip themselves with the industry knowledge and skills they need to succeed." About MDRT MDRT represents the highest honour for insurance and financial planning professionals worldwide. With members comprising the world's most successful life insurance and financial services practitioners from 476 insurance companies in 76 nations and territories, MDRT membership is recognized internationally as the standard of professional services and sales excellence in the insurance business. AIA is one of the largest life insurers in Southeast Asia, with branch offices, subsidiaries and affiliated companies located in countries and jurisdictions including Mainland China, Hong Kong, Macau, Taiwan, Australia, Brunei, Guam, India, Indonesia, Japan, Malaysia, New Zealand, the Philippines, Singapore, South Korea, Thailand and Vietnam. AIA markets a full line of life insurance products through a multi-channel distribution system, whose core franchise is an extensive agency force. AIA is a wholly-owned subsidiary of American International Group, Inc. (AIG). AIG, a world leader in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Paris and Tokyo. - End - |