The stories of heartache continue rolling in from investors feeling duped by groups like Friends Provident, Zurich International and Generali Vision.
But it wouldn’t be fair to ignore the horrific costs of Royal Skandia. One Hong Kong based financial rep suggests that 75 percent of investment platforms sold in Hong Kong are insurance linked. Known as variable annuities in the U.S., these products sold in Asia appear far worse than their U.S. counterparts.
As this South China Post article explains, there’s a long (now very visible) trail of woe in the wake of these schemes.