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    Fulfillment Ratio for Participating Products

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    Feature overview

    To provide an overview of the Hang Seng Insurance Company Limited (“Hang Seng Insurance”) dividend declaration history, the following tables show the Fulfillment Ratio for each of our participating products which (a) it has issued new policies since 2010, and (b) it still has policies inforce in the reporting year 2024. These results are intended for reference purpose only and should not be taken as an indicator of future dividend declaration of the participating products. The actual Fulfillment Ratios in the future may be lower or higher than the historical Fulfillment Ratios illustrated.

    Since each Fulfillment Ratio is calculated as an average measure across all policies of a product series for each policy year, the actual Fulfillment Ratio for an individual policy may be different from the Fulfillment Ratio shown in this document, individual inforce policyholder is advised to check the inforce re-projection of the policy for the latest view on the future benefits. For further enquiries, please contact any Hang Seng Bank branch or our Customer Service Hotline 2596 6262.

    Find your product

    Fulfillment Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Fulfillment Ratio for annual dividends for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD 100% 100% 100% 100% 100% 100% 100% 100% Not yet launched Not yet launched Not yet launched
    USD 100% 100% 100% 100% 100% 100% 100% 100% Not yet launched Not yet launched Not yet launched

    Fulfillment Ratio for terminal dividends for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD 100% 100% 100% 100% 100% 100% 100% 100% Not yet launched Not yet launched Not yet launched
    USD 100% 100% 100% 100% 100% 100% 100% N/A Not yet launched Not yet launched Not yet launched

    Fulfillment Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Fulfillment ratio for Annual Dividends for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD N/A N/A N/A N/A Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched
    USD N/A N/A N/A N/A Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched
    RMB N/A N/A N/A Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched

    Fulfillment Ratio for terminal dividends for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD 124% 121% 126% 129% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched
    USD 128% 128% 131% 121% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched
    RMB N/A N/A N/A Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched

    Fulfillment Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating product

    Fulfillment ratio for Annual Dividends for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD N/A 102% 101% 102% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched
    USD N/A 100% 100% 100% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched
    RMB N/A 100% 100% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched

    Fulfillment Ratio for terminal dividends for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD 122% 163% 162% 156% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched
    USD 130% 142% 161% 173% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched
    RMB N/A 100% 100% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched

    Fulfillment Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Fulfillment Ratio for annual dividends for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD Closed to sale Closed to sale Closed to sale 87% 87% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched
    USD Closed to sale Closed to sale Closed to sale 87% 87% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched

    Fulfillment Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Fulfillment Ratio for annual dividends for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD Closed to sale Closed to sale Closed to sale 100% 100% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched
    USD Closed to sale Closed to sale Closed to sale 100% 100% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched

    Fulfillment Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Fulfillment Ratio for annual dividends for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD Closed to sale Closed to sale Closed to sale Closed to sale 77% 81% 84% 73% 72% 73% 73%
    USD Closed to sale Closed to sale Closed to sale Closed to sale 79% 83% 86% 76% 74% 76% 76%
    RMB Closed to sale Closed to sale 100% 100% 100% 100% 100% 100% 100% Not yet launched Not yet launched

    Fulfillment Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Fulfillment Ratio for annual dividends for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    RMB Closed to sale Closed to sale 100% 100% 100% 100% 100% 100% 100% 100% Not yet launched

    Fulfillment Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Fulfillment Ratio for annual dividends for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale 70% 56% 55% 58% 64%
    USD Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale 70% 56% 55% 58% 66%

    Fulfillment Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Fulfillment Ratio for annual dividends for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale 68%
    USD Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale 70%

    Fulfillment Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Fulfillment Ratio for annual dividends for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale 60%
    USD Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale 61%

    Fulfillment Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Fulfillment Ratio for annual dividends for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale 76%
    USD Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale 78%

    Fulfillment Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating product

    Fulfillment Ratio for annual dividends for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD 100% 100% 100% 100% 100% 100% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched
    USD 100% 100% 100% 100% 100% 100% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched

    Fulfillment Ratio for terminal dividends for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD 100% 100% 100% 100% 100% 100% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched
    USD 100% 100% 100% 100% 100% 100% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched

    Fulfillment Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating product

    Fulfillment Ratio for terminal dividends for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    USD 117% 119% 123% 123% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched

    Fulfillment Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating product

    Fulfillment Ratio for terminal dividends for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    USD N/A N/A N/A N/A Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched

    Fulfillment Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating product

    Fulfillment Ratio for terminal dividends for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD 124% 128% 125% 130% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched
    USD N/A 100% N/A N/A Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched

    Fulfillment Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating product

    Fulfillment Ratio for terminal dividends for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    USD 100% 858% 1022% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched
    RMB 100% 100% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched
    Explanation Notes

    In August 2022, as a result of rising interest rate, Hang Seng Insurance has increased the special dividend rate of DragonPower Life Insurance Plan’s USD Single Premium policies. The increase affects special dividend at early years more due to the relatively low special dividend for the early years originally. This high fulfillment ratio should not be taken to imply the level of special dividend to be declared for the entire duration of the contract. Past fulfillment ratio is not indicative of future fulfillment ratio, and the fulfillment ratio may go up as well as down.

    For better understanding of how the fulfillment ratio is determined after a dividend increase, please see the illustrative calculation example below. In the example, the increased non-guaranteed benefit (i.e. actual non-guaranteed special dividend) represents 7% [= (7,155 - 700) / 91,500] of total guaranteed and non-guaranteed benefits (i.e. total cash value) illustrated at point of sale, resulting in total payout ratio of 107%. The increased non-guaranteed benefit represents 922% [= (7,155 - 700) / 700]) of non-guaranteed benefits illustrated at point of sale, resulting in fulfillment ratio of 1,022%, driven by the small non-guaranteed benefits illustrated.

    Illustrative example

     

    Illustrated

    Actual

    Policy year 3

    (effective in 2021)

    Total premiums paid

    Guaranteed cash value (A)

    Non-guaranteed special dividend (B)

    Total cash value

    (A) + (B) = (C)

    Guaranteed cash value (D) = (A)

    Non-guaranteed special dividend (E)

    Total cash value

    (D) + (E) = (F)

    Fulfillment ratio (E) / (B)

    Total payout ratio (F) / (C)

    100,000

    90,800

    700

    91,500

    90,800

    7,155

    97,955

    1,022%

    107%

    Note: The figures shown in the above example are for illustrative purpose only.

    Fulfillment Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Fulfillment Ratio for annual dividends for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD Closed to sale Closed to sale Closed to sale 62% 68% 70% 69% 61% 59% 59% Not yet launched
    USD Closed to sale Closed to sale Closed to sale 62% 69% 68% 69% 62% 59% 58% Not yet launched

    Fulfillment Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating product

    Fulfillment Ratio for annual dividends for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD Closed to sale Closed to sale Closed to sale 87% 87% 87% 87% 76% 73% 75% 74%
    USD Closed to sale Closed to sale Closed to sale 85% 86% 87% 87% 80% 73% 74% 74%

    Fulfillment Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating product

    Fulfillment Ratio for annual dividends for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD Closed to sale Closed to sale Closed to sale Closed to sale 47% 56% 62% 57% 58% 61% 60%
    USD Closed to sale Closed to sale Closed to sale Closed to sale 50% 55% N/A 63% 56% 60% 60%

    Fulfillment Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Fulfillment Ratio for annual dividends for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale 58% 61%
    USD Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale 57% 62%

    Fulfillment Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Fulfillment Ratio for annual dividends for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale 44%
    USD Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale 45%

    Fulfillment Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Fulfillment Ratio for annual dividends for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale N/A N/A
    USD Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale N/A N/A

    Fulfillment Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating product

    Fulfillment Ratio for terminal dividends for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    USD 100% 100% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched
    RMB 100% 100% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched

    Fulfillment Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating product

    Fulfillment Ratio for annual dividends for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale 61% 52% 53% 57% 64%
    USD Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale 62% 52% 54% 59% 64%

    Fulfillment Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating product

    Fulfillment Ratio for annual dividends for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale 56% 57% 60% 64%
    USD Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale N/A 61% 60% 66%

    Fulfillment Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating product

    Fulfillment Ratio for annual dividends for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD Closed to sale 100% 100% 100% 100% 100% 100% 99% Not yet launched Not yet launched Not yet launched
    USD Closed to sale N/A N/A N/A 100% 100% 100% 99% Not yet launched Not yet launched Not yet launched

    Fulfillment Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Fulfillment Ratio for annual dividends for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    USD N/A Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched
    RMB N/A Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched

    Fulfillment Ratio for terminal dividends for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    USD 100% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched
    RMB 100% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched

    FAQs

    Common questions

    The Fulfillment Ratio for annual dividends is calculated as the ratio of the aggregate actual accumulated non-guaranteed annual dividends against the aggregate illustrated accumulated non-guaranteed annual dividends at the point of sale for all the relevant inforce participating policies at that policy year. The non-guaranteed interests, if any, earned on accumulated dividends and interest as well as accumulated guaranteed coupons and/or annuities (if applicable) are also included and aggregated with the amount of annual dividends in the calculation of Fulfillment Ratio.

    Illustrative example

    Assume Product X contains the following 4 HKD policies as of reporting year 2024:

    Policy
    		 Policy year
    		 Policy effective date
    		 Illustrated accumulated dividends and interest (HKD)
    		 Actual accumulated dividends and interest (HKD)
    1 1 5 Oct 2023
    		 750 750
    2 2 3 Apr 2022
    		 1,520 1,500
    3 2 17 Dec 2022
    		 2,400 2,350
    4 3 28 Jul 2021
    		 3,600 3,500

    The calculations of Fulfillment Ratios for HKD policies for reporting year 2024 are shown below:

    Product
    		 Fulfillment Ratios for dividends for reporting year 2024
    Policy year 1 (Policies effective in 2023)
    		 Policy year 2 (Policies effective in 2022)
    		 Policy year 3 (Policies effective in 2021)
    Product X

    750 / 750 = 100%

    (Policy 1)

    (1,500 + 2,350) / (1,520 + 2,400) = 98%

    (Policies 2 and 3)

    3,500 / 3,600 = 97%

    (Policy 4)

    Note: The figures shown in the above example are for illustrative purpose only.

    The Fulfillment Ratio for terminal dividends is calculated as the ratio of the aggregate actual payout of non-guaranteed terminal dividends against the aggregate illustrated non-guaranteed terminal dividends at the point of sale for all the relevant participating policies which were actually terminated in the reporting year.

    Illustrative example

    Assume Product X has the following 4 HKD policies terminating in reporting year 2024:

    Policy
    		 Policy year
    		 Policy effective date
    		 Illustrated terminal dividends (HKD)
    		 Actual terminal dividends (HKD)
    1 3 1 Jan 2021
    		 800 800
    2 4 18 Feb 2020
    		 2,200 2,000
    3 5 13 Mar 2019
    		 4,000 3,500
    4 5 27 Nov 2019
    		 3,500 3,000

    The calculations of Fulfillment Ratios for HKD policies for reporting year 2024 are shown below:

    Product
    		 Fulfillment Ratios for terminal dividends for reporting year 2024
    Policy year 3 (Policies effective in 2021)
    		 Policy year 4 (Policies effective in 2020)
    		 Policy year 5 (Policies effective in 2019)
    Product X

    800 / 800 = 100%

    (Policy 1)

    2,000 / 2,200 = 91%

    (Policy 2)

    (3,500 + 3,000) / (4,000 + 3,500) = 87%

    (Policies 3 and 4)

    Note: The figures shown in the above example are for illustrative purpose only.

    Footnote

    Other point(s) to note

    1. Some of the above results are shown as “N/A” because:
      • there are no relevant inforce policies in the respective reporting year; or
      • the dividend amount illustrated at point of sale is zero and hence Fulfillment Ratio is undetermined; or
      • there were no relevant terminated policies during the reporting year
    2. The above life insurance plans are underwritten by Hang Seng Insurance Company Limited which is authorized and regulated by the Hong Kong Insurance Authority to carry on long term insurance business in the Hong Kong SAR. The benefits of the plans are subject to the credit risk of Hang Seng Insurance Company Limited (for details, please refer to “Product risks – Credit risk” on the product brochure). The above insurance plans are insurance plans with saving elements and not any kind of bank deposit. The proceeds received upon policy surrender, whether partial or full, may be less than the total premiums paid.
    3. The ratios are rounded to nearest integer %.