A Bermudian-based high net worth life insurance provider has won two prizes at the 12th Benchmark Wealth Management Awards 2021 in Hong Kong.

Transamerica Life (Bermuda) Ltd won the Outstanding Responsible Insurer award and Best-in-Class — Universal Life Product award for its Universal Life Alpha Pro and Pro Century products.

The company said this was the fourth time that TLB was recognised by Benchmark and its first time winning in the Outstanding Responsible Insurer category.

With its singular focus on serving high net worth and ultra high net worth customers, TLB said, it has extensive experience in handling large sums assured and complex cases to support legacy and business planning for its customers.

The Outstanding Responsible Insurer award recognises TLB’s efforts and strong commitment in building a sustainable, socially responsible company, TLB said, adding that it aims to make a positive impact in its community and the environment so as to create lasting value for its customers and business partners.

In the Universal Life Product category, TLB was awarded best-in-class.

The company said ULA Pro and Pro Century were launched last April and were based on TLB’s award-winning Universal Life Alpha Private Series product.

It said ULA Pro and Pro Century were refreshed for today’s market environment, offering a suite of improvements to meet broader customer needs.

The new enhanced plans provide a unique combination of permanent life insurance coverage, cash value growth potential and inherent design flexibilities that high net worth individuals desire, TLB said.

Chirag Rathod, CEO of TLB, said: “We are very excited to win in these two honourable categories at the Benchmark Wealth Management Awards this year.

“Our drive to really understand the unique challenges that our HNW customers face and provide them with tailored, innovative financial solutions is part of our purpose of helping customers achieve a lifetime of financial security and peace of mind.

“We remain committed to providing premium service and finding ways to add more value to our customers and business partners.”