Chubb Life Hong Kong has taken a bold step in its insurance and wealth management journey by opening the company’s first global wealth centre, Chubb 1792 Club, in Hong Kong. The nearly 10,000 sq ft lounge at The Gateway in Tsim Sha Tsui will cater to the growing number of affluent and high-net-worth (HNW) individuals in Hong Kong and across Asia through a fusion of wealth management expertise and artistic engagement.
The city’s rise as a global wealth management hub underpins the timeliness of this new Chubb Life Hong Kong initiative. By the end of 2023, Hong Kong’s asset and wealth management sector reached HK$31.2 trillion (US$3.97 trillion), with 64 per cent of this sum originating from non-Hong Kong investors. The life insurance sector in particular has seen robust growth, with mainland Chinese tourists alone spending HK$62.8 billion on life and medical policies last year – 6.5 per cent up on the previous year. This surge is reflected in Chubb Life’s tailored solutions for its customers, including wealth preservation and intergenerational legacy planning, especially amid Asia’s estimated US$85 trillion protection gap – according to Chubb’s annual report 2024 – driven by under-insurance and an ageing population.
In response to this growing demand, Chubb Life Hong Kong has been expanding its tailored insurance solutions for HNW clients and plans to grow its Hong Kong-based agency workforce significantly – while investing in digital transformations to enhance efficiency and client experience.
Named to mark Chubb’s founding year, the Club is much more than a conventional wealth centre as it aims to serve as a prestigious platform delivering bespoke wealth planning services while weaving cultural storytelling into the client experience.
The wealth centre features a collection of works by eight renowned and emerging artists curated by Art021, China’s largest contemporary art fair group. Among the artworks are two newly commissioned pieces. One, Harbor Mirage, a digital landscape by Shanghai-based artist Yang Yongliang, is much like water, in that it flows between past and present. Yang’s video blends the stillness of artworks from the Song Dynasty, the dynamic energy of Hong Kong depicted via its skyline, and modern technology. The second piece is by Hong Kong artist Desmond Leung, and is a series of seven, 20-second videos representing elements of Chinese cosmology: metal, wood, water, fire, earth, sun, moon and stars. Rotating through seven rooms, these videos reflect the cycles of time and create an immersive journey for visitors.
Hong Kong artist Stephen Wong, meanwhile, presents his vivid painting of the city’s landscape. The selection also includes the works of Annie Morris, Wolfgang Tillmans, Abraham Lacalle, Long Quan and Lu Pingyuan.
