As we herald the onset of 2024 and embrace the Chinese Year of the Dragon, I extend heartfelt greetings from Auchel World Inc. and Grand Prospects Financial and Insurance Services. We express our gratitude to our valued friends, partners, financial advisors, colleagues, and their families. Your unwavering support has been instrumental in our stable navigation through competitive markets, contributing to the achievement of our strategic objectives and vision. May the Year of the Dragon be a harbinger of lofty ambitions and distinguished successes.

Reflecting on 2023, a year characterized by notable global shifts, we encountered geopolitical strains and economic hurdles. The persisting conflict in Ukraine, escalating tensions between Israel and Hamas, and the rise in interest rates have disrupted financial stability in Europe and the U.S. Despite these challenges, the resilience of the U.S. economy and the adaptability of the insurance sector have been commendable. The escalating interest rates have heightened the appeal of life insurance and annuity products, especially with a marked increase in interest in fixed-interest-related products. The popularity of products like indexed universal life insurance and indexed annuities has grown, with caps exceeding 10% and participation rates over 200%.

The accomplishments of 2023 are a testament to the collaborative efforts of our financial associates, bolstered by a dedicated team and strong partnerships. We celebrated a 28.7% increase in life insurance cases, a 160.6% surge in annuity cases, and a 76.1% year-over-year increase in completed annual life insurance sales. Notably, our annual annuity sales achieved a record-breaking growth of 134.3%.

This remarkable growth is a tribute to the dedication of our financial associates, with our recruitment strategies playing a pivotal role. Our nationwide recruitment events, spanning from the West Coast to the East Coast cities like Philadelphia, Boston, and New York, have been relentless throughout the year. We have achieved record-breaking success in licensing new agents, surpassing pre-pandemic levels.

As we look towards 2024, amidst factors like the US presidential election and potential Federal Reserve interest rate adjustments, varied perspectives emerge. Optimists believe a soft landing has been achieved, expecting a gradual return to the Fed’s long-term inflation target of 2% and predicting sustained economic resilience and steady growth. However, skeptics suggest that 2024 might bring a genuine recession, with the economy potentially weakened by previous rapid interest rate hikes, possibly prompting the Fed to lower rates swiftly.

Despite these uncertainties, financial advisors stand ready to offer invaluable services, enhanced by the rapid development of artificial intelligence. Our agency, in collaboration with leading insurance companies, provides a range of annuity and life insurance products catering to various needs, including family and business protection, retirement planning, education funding, business continuation, and specialized tax planning for high-net-worth individuals. Our commitment is to furnish clients with bespoke solutions, supporting their aspirations and ensuring their financial security.

Furthermore, 2024 offers a promising landscape full of opportunities for the financial insurance industry. We are committed to aiding our financial associates in realizing their dreams, helping them navigate challenges andobstacles. This dedication is embodied in our theme for this year’s annual meeting:

“Dare to Dream, Ensure to Achieve.”

Wishing you unparalleled success, joy, and prosperity in the Year of the Dragon!


Haidi Huang, CLU, ChFC, CLTC