Isle of Man’s Hansard International and Abu Dhabi-listed Union Insurance unveiled their Infinity savings and investment product, at a Dubai event last week – the first in series of initiatives and products, via the new strategic alliance between the two companies.
The opulent surroundings of the Al Falak Ballroom at the Burj Al Arab hotel provided the backdrop for the unveiling of the new dual aspect savings product, to more than 200 delegates from Dubai’s financial services industry.
As reported, Union Insurance, a listed company on the Abu Dhabi Securities Exchange and Hansard International, which is part of the FTSE-listed Hansard Global plc Group, have recently joined forces to launch Infinity and further products in the future.
Senior representatives of both companies were in attendance at the event, including, as pictured above (L to R): Ollie Byrne, chief operating officer, Hansard International, Gordon Marr, CEO, Hansard Global plc, Abdul Muttaleb M. Al Jaedi, managing director & CEO of Union Insurance, Kamal Deep Chhabra, president – Life, Bancassurance & Personal Lines, Union Insurance.
Infinity’s two options are; Infinity Wealth and Infinity Access. In its product literature, Infinity Wealth is described as a regular contribution unit-linked fixed term contract, designed for medium to long term saving and retirement benefit planning, via access to a range of unit funds.
It has a minimum monthly contribution of US$500 (£350) and annual management charges of 1.5% per year for accumulator, initial and bonus units (reflected in the quoted unit price). Initial units are subject to an additional charge of 5.5% per year (reflected in the quoted unit price). Contracts have at least one life assured.
Infinity Access is described as a flexible single and regular contribution unit-linked contract for single, ad hoc or regular contributions. It is designed for building up a lump sum over the medium to long term. It is a flexible contract with an initial requirement to save a minimum of US$24,000 (£18,000) within the first three years, although there is no need to commit to a defined regular contribution over a defined term, after the initial period.
Contracts have at least one life assured. On the death of the life assured, the contract ends and 101% of the contract value is payable on both products.
A dedicated Infinity microsite containing product information, interactive investment calculators & a new corporate video can be found at www.hansard.com/unioninfinity.
Click here to watch a brief video of the event at the Burj Al Arab: http://www.hansard.com/unioninfinity/news/2017/union-infinity-launch-event