INSURANCE firm Zurich Life is to set up in Hong Kong 20 years after receiving permission to operate here.
The company was granted a licence in 1973, but never took it up. Now it has re-activated the document, setting up a branch office and introducing new products.
Zurich Life will specialise in employee benefit programmes for corporations, particularly insurance for the expatriate and management sectors.
'We have come here with a very clear target market and aim to offer the most competitive service available,' said branch manager Peter Mauersberger.
The employee benefit programme will focus on life insurance and income-protection schemes, one of the newer forms of cover to arrive in Hong Kong.
The new operation will rely on established brokers to market and sell its products.