Ms Bonnie Tse, Chief Executive Officer of Blue Cross (right) and Ms Sylvia Chow, Director of Marketing of Blue Cross (left) share business updates and product strategies in the press conference.

• Overall business grew by 17.9%, well above the 6.3% growth in the market. All product lines outperformed the market in terms of year-on-year growth.
• As a market leader in general insurance, Blue Cross achieved particularly strong growth in the non-medical business, with an impressive growth rate 11 times the market growth rate². Most notable was the travel and personal accident insurance business which surged 270%, quadrupling the market's 66.1% growth³.
• Medical insurance has always been a growth driver for Blue Cross. Last year also saw steady growth of 8.1%, outperforming the market's 7.5% growth in the medical business⁴.

"Considering customers' demand for multiple protections and flexible offerings, we have launched two new products, Blue Cross Elite Combo and Blue Cross Love Yourself VHIS Plan. Underlining innovation and flexibility, both products are designed as affordable and value-for-money offerings to address customers' protection needs at different stages of life."

Blue Cross Elite Combo Blue Cross Elite Combo introduces a groundbreaking insurance concept of "multiple plans in one single policy, same coverage period, and effortless management." It allows customers to freely choose their coverage combination from a range of insurance and customise benefit levels according to their individual needs and budget. The product is highly flexible and accentuates the freedom of choice, providing customers with all-around protection for their everyday lives and appealing to smart individuals, newlyweds as well as three-generation family households. Below are its key features.

• Combining multiple insurance types: The plan covers six different types of insurance with a total of 22 coverage options, providing comprehensive protection for various aspects of daily life. It comprises three Basic Protection Modules – Travel Cover, Home Cover and Domestic Helper Cover, as well as three Supplementary Protection Modules that can be added as needed – Golf Cover, Leased Property Cover and Personal Cover. To enrol in the plan, customers need to choose at least one Basic Protection Module before adding a Supplementary Protection Module.
• Better control over premium budget: Customers can freely customise the desired coverage combination and benefit level of the protection options according to budget.
• Flexibility to change protection combination: Considering that protection needs may change at different stages of life, the plan provides flexibility to change protection combinations according to needs. There are also options for Plan Level (including Sumptuous Choice, Balanced Choice and Light Choice) or Optional Add-ons for customers to choose from, further enhancing their protection and creating a worry-free life for themselves and their families.
• Unified policy management: The plan consolidates multiple coverage plans under just a single policy, with the same coverage period. Coverage renewal can be done together upon expiry, enhancing the convenience and ease of policy management.
• Brand new e-Protection: Catering to today's prevailing online shopping habit, the plan provides e-Protection under Personal Cover, safeguarding customers against identity theft and financial losses from online purchases.

• Flexible adjustment of deductibles at milestone events in life – market-first for VHIS Plans: Considering that the financial needs and responsibilities that one shoulder will change at different milestones in life, the plan provides options for policyholders to reduce or remove the selected deductible without re-underwriting, especially in the significant events of life including having a newborn baby, buying a residential property, moving abroad, or reaching a designated age.
• Deductible waived for specified health conditions: If the insured person is unfortunately diagnosed with designated critical illnesses, sports-related injuries and permanent total disabilities, the related deductible will be waived, providing full support to customers during difficult times.
• Immediate cover for unknown pre-existing and congenital conditions: The plan fully covers unknown pre-existing conditions and congenital conditions which have been diagnosed at or after the age of 8, with coverage starting immediately from day one when the policy becomes effective. No waiting period is required.
• Health & wellness benefit: For every three consecutive years the policy has been in force, customers can get reimbursed for actual expenses of wellness activities incurred within the immediately following policy year, up to HK$1,500. Covering expenses on travelling, fitness gym membership and wellness courses, this benefit aims to encourage customers to lead a healthy lifestyle.
• Various value-added services: These include free second medical opinion, pre-hospitalisation claim assessment, no hospital bills to pay, 24-hour worldwide emergency aid, Blue Cross nursing care hotline etc.

SmartClub members can now redeem a one-day ticket to Hong Kong Disneyland with 10,000 SmartPoints.

The above product information of Blue Cross Elite Combo does not include the full version of the terms and conditions. Please refer to the policy for detailed terms and conditions. For more details, please visit https://www.bluecross.com.hk/en/ePromotion/AIA_GIProducts/latest^[3] or contact AIA Hong Kong Financial Planners who have been registered as Blue Cross's agents or call 2839 6333.

The above product information of Blue Cross Love Yourself VHIS Plan does not include the full version of the terms and conditions. Please refer to the policy for detailed terms and conditions. Promotional offers are subject to the terms and conditions. Please visit Blue Cross website at www.bluecross.com.hk^[4] or download the Blue Cross HK App.

Remarks:

1. Source: Provisional statistics on general insurance business (direct business) published by the Insurance Authority for 2023, excluding mortgage guarantee.
2. Source: Provisional statistics on general insurance business (direct business) published by the Insurance Authority for 2023, excluding medical and mortgage guarantee.
3. Source: Provisional statistics on general insurance business (direct business) published by the Insurance Authority for 2023, non-medical subclass in accident and health business.
4. Source: Provisional statistics on general insurance business (direct business) published by the Insurance Authority for 2023, medical subclass in accident and health business.
5. It is calculated based on a 15% discount on first-year premium and up to 15% family discount.

"Hong Kong" and "Macau" herein refer to "Hong Kong Special Administrative Region" and "Macao Special Administrative Region", respectively.

Disclaimers:

• This press release is for distribution in Hong Kong only. The distribution of this press release is not and shall not be construed as an offer to sell or a solicitation to buy or a provision of any insurance product outside Hong Kong.
• Blue Cross (Asia-Pacific) Insurance Limited is a subsidiary of AIA Group Limited. It is not affiliated with or related in any way to Blue Cross and Blue Shield Association or any of its affiliates or licensees.

Hashtag: #BlueCross

The issuer is solely responsible for the content of this announcement.

References

1. ^{^} Media OutReach Newswire (www.media-outreach.com)
2. ^{^} https://www.facebook.com/share/v/LAjpiWU4YYKJULgX/?mibextid=oFDknk (www.facebook.com)
3. ^{^} https://www.bluecross.com.hk/en/ePromotion/AIA_GIProducts/latest (www.bluecross.com.hk)
4. ^{^} www.bluecross.com.hk (www.bluecross.com.hk)