The head of a Bermudian-based life reinsurer has offered a view into how markets such as Singapore and Hong Kong are responding to indexed universal life products and how regulatory shifts, product education and jurisdictional strategy are shaping how clients engage.

Wouter Knecht, the head of commercial development at Transamerica Life Bermuda, was speaking during the 2025 High-Net-Worth Insurance Summit in Singapore, hosted by the industry publication, Hubbis.

He was clear with his messaging to the life industry: “If we, as advisers, focus on education, highlight the role of insurance and structure communication and reviews, we can deliver real value to families. Do that well and artificial intelligence will never replace you.”

He was on a panel discussion titled “Navigating Asia’s HNW Insurance Landscape: Solutions, Risks and Evolving Strategies” with key regional executives.

Hubbis said Asia’s HNW insurance landscape was in the midst of rapid transformation. A rising tide of global mobility, regulatory reforms and wealth transfer planning is shaping client expectations, with insurance providers racing to adapt.

The publication emphasised that the foundational work of education, jurisdictional strategy and articulating values was more critical than product features and market shifts.

Mr Knecht said his company was financially strong and focused on its wealthy clients.

He said: “We have paid out more than $446 million in claims across 20 countries over the past five years. Our A+ S&P rating and sizeable balance sheet are what allow us to help customers safeguard wealth for future generations. We want to be around for the next 180 years.”

He added that recent global turbulence had made people more aware of succession planning, with 67 per cent of companies in a recent survey seeing an increase in client interest since Covid-19 and other world events.

He said: “It is clear that clients are more conscious of the need to plan.”

The same survey highlighted that the main driver in Singapore and Southeast Asia is fear of intra-family conflict, with 41 per cent of respondents citing potential family disputes as their greatest concern.

He said: “That may sound like a plot from a TV drama but in reality it is one of the most common and destructive risks if succession is not carefully planned.”

Other concerns included tax implications, inefficient or delayed asset transfers and fear of creditors or divorce.

“The key takeaway is that clients recognise the importance of succession planning and they feel the concern,” Mr Knecht said. “That gives advisers an opening to start the conversation. But recognition alone does not always lead to action.”