Corporate Update | Tahoe Life

Corporate Update

Find out the latest news and update.

...

CII Charity Virtual Run 2022

2022-09-15 | Corporate update

The Chartered Insurance Institute (“CII”) is a professional body founded in the United Kingdom dedicated to building public trust in the insurance and financial planning profession. CII recently organised the CII Charity Virtual Run 2022 during 18 to 31 August 2022 to raise funds for The Fred Hollows Foundation’s projects in over 25 countries worldwide. At Tahoe Life, we embrace corporate social responsibility as a long-term commitment. We showed our full support for this meaningful event with our CEO, Mr Allan Yu, led by example and participated in the 5km run. The Tahoe Life team altogether achieved nearly 100km, contributing to around 4% of the total distance completed worldwide. CII expressed their gratitude for our participation and contribution to this fund raising event. In order to ensure health and safety for our colleagues, and to minimise the risk of infectious disease transmission, Tahoe Life encouraged participants of the charity virtual run to arrange their own schedule and running tracks to enjoy the exercise time. The company always strives to contribute to the society as well as to improve staff engagement in the workplace through different activities.

...

Tahoe Life Corporate Statement

2022-08-30 | Corporate update

In regard to enquiries on the winding-up petition against Everwin Enterprise (Hong Kong) Limited (“Everwin Enterprise”) filed with the High Court of Hong Kong (the “Court”), Tahoe Life Insurance Company Limited (Incorporated in Bermuda with limited liability) (the “Company” or “we”) would like to respond as follows: We are informed by Everwin Enterprise that an amicable settlement has been reached with respect of the winding up petition. The petition has been dismissed and a prior order was rescinded by the Court upon a joint application of the parties. The proceedings have now been concluded. Everwin Enterprise is a wholly-owned subsidiary of Tahoe Investment Group Company Limited. Everwin Enterprise holds 100% shares of Thaihot Investment (Bermuda) Company Limited, where the latter holds 100% shares of the Company. The Company's business operations and financials are independent of Tahoe Investment Group Company Limited and its subsidiaries (including Everwin Enterprise, Thaihot Investment (Bermuda) Company Limited and Tahoe Group Company Limited (listed on the Shenzhen Stock Exchange)). The Company’s day-to-day operations are supervised by our professional management team which is independent of Everwin Enterprise. No Everwin Enterprise director serves on the Board of the Company. The Company is an insurance company regulated by the Insurance Authority in Hong Kong (“Insurance Authority”) and the regulatory authority in Bermuda. We have a solid financial position. Our current solvency ratio maintains at a level compliant with regulatory requirements. The Company has sufficient capital and liquidity to fully fulfil the capital needs for policy claims and surrender upon maturity. We have been following a robust risk management framework and a prudent investment strategy in accordance with the requirements of the Insurance Authority and the regulatory authority in Bermuda. In addition, we have strictly complied with the regulatory measures imposed by the Insurance Authority on the Company, including prohibiting any transfer of our bank deposits or assets outside Hong Kong or the provision of financial assistance to any specified institutions or individuals, and also requiring the Company to focus mainly on quality investments to ensure the liquidity, security and stability of our assets in place and to safeguard policyholders' interests. We will continue to strictly comply with the requirements set out by the regulatory authority to ensure that our policyholders’ benefits are not affected, including the Everwin Enterprise case. The Company is maintaining our operations as usual and we will continue to fulfil our obligations under all insurance policies including policy benefits, claims, underwriting and customer services, with all terms and conditions remain unchanged for our customers. The Company has also temporarily ceased underwriting any new business from 8 February 2021. We will continue our discussion with reputable potential investors with robust financial strengths on the future direction of business development, the long-term goals and the details of the transaction. We aim to consummate and implement the collaborative mechanism and operating model in the near future so as to maximise synergies and bring the greatest benefits to investors, customers and all stakeholders. Protecting policyholders’ best interests has always been the top priority at Tahoe Life. We will continue to serve all customers professionally as usual. Customers can contact us at our Customer Service Hotline (852) 3767 8777 or email us at cs@tahoelife.com.hk for any inquiries. Originally posted on 17 June 2022 Updated on 30 August 2022

...

Tahoe Life Corporate Statement

2022-07-13 | Corporate update

In regard to the announcement made by Dah Sing Financial Holdings Limited and Dah Sing Banking Group Limited on 8 July 2022 that Dah Sing Bank, Limited (“DSB”) has terminated the Hong Kong Distribution Agreement between Tahoe Life Insurance Company Limited (Incorporated in Bermuda with limited liability) (“Tahoe Life”, the “Company” or “we”), Tahoe Life would like to respond as follows: The Company does not agree that DSB is entitled to terminate the Hong Kong Distribution Agreement, and the parties to the agreement ought to continue to perform their obligations thereunder. The Company has engaged legal advisors in respect of this matter and will take appropriate legal action(s) to protect the Company’s rights. We will not comment further at this stage, but will provide further information in due course as appropriate. Currently, DSB is the authorised licensed insurance agency of Tahoe Life, and it is obligated to serve the policyholders professionally who took out Tahoe Life’s insurance policies at DSB. The Company is an insurance company regulated by the Insurance Authority in Hong Kong (the “Insurance Authority”) and the Bermuda Monetary Authority. We have a solid financial position. Our current solvency ratio maintains at a level compliant with regulatory requirements. The Company has sufficient capital and liquidity to fully fulfil the capital needs for policy claims and surrender upon maturity. We have been following a robust risk management framework and a prudent investment strategy in accordance with the requirements of the Insurance Authority and the Bermuda Monetary Authority. The Company is maintaining our operations as usual and we will continue to fulfil our obligations under all insurance policies including policy benefits, claims, underwriting and customer services, with all terms and conditions remaining unchanged for our customers. In addition, the Company has been conducting corporate strategic review and temporarily ceased underwriting new business from 8 February 2021. We are having discussions with reputable potential investors with robust financial strength on the future direction of our business development, long-term goals and details of the proposed transaction. The review has progressed steadily and we aim to finalise and implement a refined collaboration mechanism and operating model in the near future so as to maximise synergies and bring the greatest benefits to investors, customers and all stakeholders upon resumption of underwriting of new business. Protecting policyholders’ best interests has always been the top priority at Tahoe Life. We will continue to serve all customers professionally as usual. Customers can contact us at our Customer Service Hotline (852) 3767 8777 or email us at cs@tahoelife.com.hk for any enquiries.

...

Green Power Hike For A Green Future Competition 2022

2022-03-29 | Corporate update

Tahoe Life recently participated in the Green Power Hike For A Green Future Competition for the second year. The Company formed a volunteer team for the hiking competition and we proudly won the Outstanding Green Award by showing our support in donating funds to the charitable institution Green Power. In order to ensure the health and safety of our colleagues during the pandemic, our volunteers hiked and ran along the Hong Kong Trail separately instead of teaming up in a big group like we did last year. This year, our team has doubled its size and has achieved very impressive results. With the total hiking distance of 385 km achieved by 23 team members, our team is ranked fourth in the Active Green Award - HKFI Cup and fifth in the Green Enthusiast Award - HKFI Cup! A big thank you to the team for spending the Volunteer Service Leave offered by the Company and personal time to participate in the competition. The Company embraces corporate social responsibility as our long-term commitment. Through participating in this event, the Company aims to contribute to the sustainable development of the society and to support Green Power for their environmental education work and environmental awareness promotion.

...

Tahoe Life joined Benchmark Sustainable Wealth Forum

2021-05-28 | Corporate update

General Manager, Distribution and Life Management, Ms Virginia Wong, and Chief Marketing Officer, Ms Jenny Chau, are invited to represent Tahoe Life to join the Sustainable Wealth Forum organised by the Benchmark Magazine. Virginia shares how Tahoe Life developed our unique Captain Cool Children Savings Plan by putting ourselves in parents’ shoes and integrating social responsibility into the product. She also highlights the intact protection offered by MultiGuard Critical Illness Protection Plan. Jenny, on the other hand, explains how Tahoe Life puts our brand motto “Craft a brilliant future for our customers” into action through our products and services. Our efforts in helping our customers fight against the COVID-19 pandemic and donating masks to students with special needs are also recognised in the forum.