Assicurazioni Generali S.p.A. – Hong Kong Branch

Assicurazioni Generali S.p.A. – Hong Kong Branch
This sections provides the reference information for the product(s) underwritten by Assicurazioni Generali S.p.A. – Hong Kong Branch

Fulfillment Ratio for Participating Products

Fulfillment Ratio for Participating Products

Please note that the fulfillment ratio is for your reference only and should not be construed as an indicator of future performance of the participating products. Future dividends will be determined based on the Dividend Philosophy and hence fulfillment ratios in the future may be higher or lower. For details, please refer to the product brochure or policy provisions or Assicurazioni Generali S.p.A. – Hong Kong Branch’s Dividend Philosophy.

Please also be aware that as different products may have different investment philosophy and different risk exposures, the fulfillment ratios will be different for different products.

The following are historical fulfillment ratio for each participating product which has new policies issued in the 5 calendar years prior to the reporting year.

1) Fulfillment Ratio for policies with annual dividends

Product Series

Product Type

Fulfillment ratios for annual dividends for reporting year 2017

Policy year 1

Policy year 2

Policy year 3

Policy year 4

Policy year 5

Policy year 6

Ruby Critical Illness Plan#

Critical Illness Participating Whole Life Insurance

N/A*

(policies effective in 2016)

N/A*

(policies effective in 2015)

N/A

N/A

N/A

N/A

# the product was launched in 2015 

* Annual dividends are only available since 3rd Policy Anniversary

 

2) Fulfillment Ratio for policies with special dividends

Product Series

Product Type

Fulfillment ratios for special dividends for reporting year 2017

Policy year 1

Policy year 2

Policy year 3

Policy year 4

Policy year 5

Policy year 6

Ruby Critical Illness Plan#

Critical Illness Participating Whole Life Insurance

N/A*

(policies effective in 2016)

N/A*

(policies effective in 2015)

N/A

N/A

N/A

N/A

# the product was launched in 2015

* Special dividends will be payable on or after 10th Policy Anniversary on termination of the policy or other conditions as specified in the policy provision

Dividend Philosophy for Participating Products

Dividend Philosophy for Participating Products

Participating policies allows policyholders to share in the divisible surplus of the Company via dividend mechanism.   The dividend scales are adjusted based on the Company's actual experience relating to its relevant product group, including but not limited to investment return including any market value gains and losses, investment outlook, direct and indirect expenses, claim and lapse experience. If the experience is more favorable than expected, the dividends to be paid will be increased and vice versa.

The Company aims to ensure a fair sharing of divisible surplus between policyholders and shareholders, and among different groups of policyholders.   At least annually, the Company will review and determine the amount of dividend to be declared to policyholders.  Smoothing1 will also be considered when determining the scale of dividends to be distributed in order to provide a more stable return to the policyholders. With the above in mind, the appointed actuary will then submit a report to advise the Board on the recommendation of dividends and to obtain Board’s approval.

In general, special dividends may be more volatile than annual dividends as market value fluctuations are largely reflected in the adjustment to special dividends.  Under some circumstances, the non-guaranteed dividends may be zero.

Annual dividends paid can be left with the Company to accumulate with interest. The interest rate (Dividend Accumulation Rate) credited is based on market conditions and investment performance.  This interest rate is not guaranteed and will be determined by the Company from time to time.

 

1The Company aims to smooth the investment performance over a period of time by holding back some of the investment returns in good years and using this saving to lessen impacts to dividends in the years where the investment return is not so good.

Crediting Interest Rates for Universal Life products

Crediting Interest Rates for Universal Life products

The following are historical crediting interest rates for each universal life plan which has new policies issued in the 5 calendar years prior to the reporting year.

Please note that crediting interest rates are for your reference only and should not be construed as an indicator of future crediting interest rates of the universal life products.   Crediting interest rate in the future may be higher or lower.

Generali Premio Universal Life (Reporting Year 2017) (The product was launched in 2016)
Sigillo Universal Life Plan (Reporting Year 2017)