Corporate Update
Find out the latest news and update.
Find out the latest news and update.
Tue Jul 30 08:00:00 CST 2024 | Corporate update
Date: 30 July 2024 On 26 July 2024 (Bermuda time), the Bermuda Monetary Authority (“BMA”) obtained an order from the Supreme Court of Bermuda appointing Messrs. Marcin Czarnocki of Deloitte Financial Advisory Ltd., LAI Kar Yan (Derek) and KAM Chung Hang (Forrest) of Deloitte Touche Tohmatsu, and CHENG Man Lung of Deloitte Advisory (Hong Kong) Limited as the joint provisional liquidators (the “JPLs”) of Tahoe Life Insurance Company Limited (“Tahoe Life”) pursuant to the Bermuda Insurance Act 1978 (“Bermuda Insurance Act”) and the Bermuda Companies Act 1981. The appointment of the JPLs follows the appointment of Messrs. LAI Kar Yan (Derek), KAM Chung Hang (Forrest) and CHENG Man Lung as the Joint and Several Managers (the "Managers") of Tahoe Life by the Insurance Authority of Hong Kong (“HKIA”) earlier on 26 July 2024 (Hong Kong time) to take full control of the affairs, business and property of Tahoe Life in Hong Kong pursuant to the Insurance Ordinance (Cap. 41) of Hong Kong (“Hong Kong Insurance Ordinance”). The appointment of JPLs serves to ring-fence the assets of (rather than to wind up) Tahoe Life for protection of the policyholders’ interests and operates in tandem with the work of the Managers in Hong Kong. The terms and conditions of all existing policies issued by Tahoe Life will not be affected by the appointments of the JPLs and the Managers. Tahoe Life’s operations, including its policy administration, claims handling, and other customer service, will continue business as usual, and be supervised by the Managers. Tahoe Life is incorporated in Bermuda and registered as a Class E insurer under the Bermuda Insurance Act. It is also authorized by the HKIA to carry on long term insurance business in or from Hong Kong under the Hong Kong Insurance Ordinance. Policyholders may refer to the below contact details for specific enquiries. Telephone Hotlines for Important Matters Matters Organizations Contact Details Operating Hours Enquiries in relation to policies Tahoe Life 3767 8777 (email: cs@tahoelife.com.hk) Mondays to Fridays, (excluding public holidays) from 9am to 12noon and 2pm to 5:45pm Enquiries in relation to the Managers / JPLs The Managers’ Team 2238 7006 (email: tahoe_en@deloitte.com.hk) Enquiries in relation to insurance market regulations and supervision The Insurance Authority of Hong Kong 3899 9983 (email: enquiry@ia.org.hk ) Mondays to Fridays, (excluding public holidays) from 8:45am to 12:45pm and 1:45pm to 6:00pm In case of any discrepancy or inconsistency between the English version and the Chinese translation, this English version shall prevail. Please click for details of the announcement Please click for the Frequently Asked Questions (FAQ)
Fri Jul 26 08:00:00 CST 2024 | Corporate update
Date: 26 July 2024 On 26 July 2024, the Insurance Authority (the “IA”) appointed Messrs. Lai Kar Yan (Derek), Kam Chung Hang (Forrest) and Cheng Man Lung of Deloitte as the Joint and Several Managers (the "Managers") to take full control of the affairs, business and property of Tahoe Life Insurance Company Limited ("Tahoe Life") in Hong Kong. Tahoe Life is incorporated in Bermuda, and is authorized to carry on long term insurance business in Hong Kong. Tahoe Life mainly engaged in writing life, annuity, and linked direct insurance. According to statistics published by the IA, Tahoe has over 92,000 in force policies as of 31 March 2024. The Managers are tasked to maintain operations of Tahoe Life to safeguard interest of its policyholders, and to take appropriate steps to assess the present financial position of Tahoe Life. All existing policies issued by Tahoe Life will not be affected by the appointment of the Managers. Tahoe shall maintain business operations as usual including policy administration, claims handling, and other customer service. Messrs. Lai Kar Yan (Derek), Kam Chung Hang (Forrest) and Cheng Man Lung are corporate rescue specialists from Deloitte China. Policyholders may refer to the below contact details of Tahoe or the Managers’ team. Telephone Hotlines for Important Matters Matters Organizations Contact Details Operating Hours Enquiries in relation to policies Tahoe Life 3767 8777 (email: cs@tahoelife.com.hk) Mondays to Fridays, (excluding public holidays) from 9am to 12noon and 2pm to 5:45pm Enquiries in relation to the Managers The Managers’ Team 2238 7006 (email: tahoe_en@deloitte.com.hk) Enquiries in relation to insurance market regulations and supervision The Insurance Authority 3899 9983 (email: enquiry@ia.org.hk ) Mondays to Fridays, (excluding public holidays) from 8:45am to 12:45pm and 1:45pm to 6:00pm In case of any discrepancy or inconsistency between the English version and the Chinese translation, this English version shall prevail. Yours faithfully, For and on behalf of Tahoe Life Insurance Company Limited (Managers appointed under the Insurance Ordinance) Lai Kar Yan (Derek) Kam Chung Hang (Forrest) Cheng Man Lung Joint and Several Managers Please click for details of the announcement Please click for the Frequently Asked Questions (FAQ)
Wed Aug 16 08:00:00 CST 2023 | 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.
Mon May 29 09:00:00 CST 2023 | 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!
Wed Mar 29 18:00:00 CST 2023 | 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.
Copyright © 2024 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)
