Corporate Update
Find out the latest news and update.
Find out the latest news and update.
2023-08-16 | Corporate update
Tahoe Life Insurance Company Limited (“Tahoe Life”, the “Company” or “we”) hereby confirms the Insurance Authority (“IA”) has appointed Mr. Peter Whalley and Mr. Peter Greaves of PricewaterhouseCoopers Limited as Advisors to support the Company on a few specific areas that include management of assets and properties, investment strategy and declaration of benefits to policy holders, as announced by the IA on 16 August 2023. The Company is maintaining its operations as usual, fulfilling obligations under all insurance policies including policy benefits, claims, underwriting and customer services. All terms and conditions remain unchanged for our customers. Additionally, Tahoe Life maintains a solid financial position as well as sufficient capital and liquidity. We will continue to operate in accordance with the requirements of the IA and the regulatory authority in Bermuda, put policyholders’ best interests and their protection as our top priority, and 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.
2023-05-29 | Corporate update
Tahoe Life cares about our employees and their physical and mental health, and strives to creating a healthy and pleasant work culture for them. The Tahoe Life Staff Wellness Fortnight was recently organised to promote an overall awareness for the wide-ranging aspects of wellness among our employees, to reduce work-related stress, to enhance staff morale and sense of belongingness, and to increase staff productivity and motivation. We have arranged a series of exciting activities during the wellness fortnight, including sharing healthy diet recipes, the benefits of regular exercise and tips for maintaining mental health. We also collected and displayed photos of happy moments of our colleagues, such as enjoying family fun, travelling, having departmental gatherings and doing sports. The wellness fortnight was concluded with a staff party where all colleagues spent a happy Friday afternoon together!
2023-03-29 | Corporate update
For the third consecutive year, Tahoe Life participated in the Green Power Hike For A Green Future Competition. The management team led the Tahoe Life volunteer team to proudly and merrily join the hiking competition, and the team won the Green Merit Award! The whole team completed Section 1 of the Hong Kong Trail together on an auspicious day at the beginning of the Year of the Rabbit, symbolising to bring good fortune and luck in the new year. Tahoe Life 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 promote nature appreciation through hiking. Team members brought their own bottles and towel and litter away (leave-no-trace) to support the green hike experience.
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.
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
Copyright © 2021 Tahoe Life Insurance Company Limited. All rights reserved. “Tahoe Life”, “Company” or “We” as used in this webpage refers to Tahoe Life Insurance Company Limited (Incorporated in Bermuda with limited liability)
