Luen Fung Hang Life Limited was founded in 2002, which aims to provide diversified and comprehensive quality services to our customers not only on life insurance, but also on pension funds. Luen Fung Hang Life consists of many famous financial institutes in Hong Kong and Macau. Our shareholding banks in Macau are Tai Fung Bank, OCBC Wing Hang Bank and Industrial and Commercial Bank of China (Macau), while Bank of China Macau Branch acts as our major servicing bank. Shareholders in Hong Kong include Bank of China Group Insurance, OCBC Wing Hang Bank, CMB Wing Lung Insurance, Shanghai Commercial Bank, Chong Hing Insurance, BC Reinsurance and Hang Seng Insurance. Under the support of our strengthened shareholders, our businesses are developed in a steady sound track.
With the massive networks of clients created by the shareholding banks, we acquired an excellent reputation from all circles of the society and have reached a significant achievement on Life Insurance and Medical Insurance businesses. Furthermore, in order to comply with the Macau Private Pension Funds Ordinance Decree-Law No.6/99/M established in 2003, we are devoted to providing well-found pension fund services to numerous private institutions and individuals, and have received recognition and praise in the Macau market with over MOP 5.7 billion in Assets Under Management at the end of 2018.
Following the persistent expansion of the Macau Economy, the demand for life insurance and pension fund rises rapidly. We will keep a close eye on the ever-changing market conditions and adapt accordingly. Besides continually enhancing our service standard, we will strive to develop more new and perfect products to fulfill the needs of Macau citizens, and will aspire to strengthen the local markets of life insurance as well as pension funds.