UK insurer to move Asian investment headquarters to Hong Kong

Standard Life will shift its $12 billion Asian portfolio from Edinburgh to Hong Kong, with further investment capital to be raised by the insurer''s new local office.

Insurers Standard Life and HIH have joined forces with a mainland China conglomerate, China Everbright, pushing life products to Hong Kong's young and educated market and selling investment funds in the process. Relying on HIH's referral power, Standard Life's financial planning expertise and China Everbright's connections in high places, senior company officials expect the joint venture to break even in four years time for its HK$200 million initial investment.

HIH's network of general insurance agents will be responsible for client prospecting, passing on selected clients to Standard Life's financial planners. The planners will then sell life products as well as investment funds depending on the clients' needs. Standard Life holds a...

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