BOC HK, BOC Life launch green savings insurance plan

It offers up to a 3% annualised guaranteed rate of return at policy maturity.

Bank of China (Hong Kong) (BOCHK) and BOC Group Life Assurance Company (BOC Life) have launched the BOC Life iGreen Savings Insurance Plan, touted as Hong Kong’s first-ever green insurance plan certified by an independent third-party professional institution

The insurance plan offers an annualised guaranteed rate of return up to 3% at policy maturity for 3-year USD policy. The one-off premium payment is as low as US$375 (RMB3,000).

Premiums collected will be invested in various ESG investment projects, with BOCHK and BOC Life promising to adopt proactive investment strategies to identify suitable investment opportunities.

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Over half of the premiums have been earmarked for investment in green bonds or other sustainability series bonds and green financial instruments that meet the requirements of “Green Bond Principles” promulgated by the International Capital Market Association (ICMA), the joint statement added.

Customers can now apply for the plan via the BOCHK mobile app. From now until 31 October, successful applicants are eligible to receive a free gift of soil-free organic garden kit 2.