Skandia International, which operates as a unit of Old Mutual Wealth, believes that the new move would benefit from the broker’s "experienced distribution network, with the potential to access 50 well-known private banks in Hong Kong and Singapore," International Adviser reported.

Furthermore, Skandia has also unveiled the Silk Life Plan, a variable universal life product tailored to fulfill the requirement of high net worth individuals and businesses.

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Silk offers an array of investment options to be placed into a life product, thereby allowing high net worth investors to invest their wealth, while benefiting from life assurance.

Skandia International high net worth global head Steve Hickman said: "We are seeing growing demand from high net worth individuals for higher levels of life protection."

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