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AXA Study: Younger women in Hong Kong have poorer mind health

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64% aged 40 and below are experiencing moderate to extreme stress over last year

HONG KONG SAR - Media OutReach - 10 October 2023 - AXA Hong Kong and Macau ("AXA") today released the third phase of its annual AXA Study of Mind Health and Wellbeing 2023 ("the Study"), which assessed the state of mind health[1] across the globe. According to the Study, only 19% of female respondents in Hong Kong are flourishing, lower than the 23% of men surveyed.

Notably, younger female respondents aged 40 and below have an even lower percentage, as 12% believe they are flourishing compared to 24% of those aged above 40. These findings suggest that mental stress is more prevalent among younger women, with 64% of younger respondents experiencing moderate to extreme stress over the last year, compared to 46% of overall female respondents.

Nearly two-thirds of women agreed all genders are treated equally at workplace but gender equality gap still exists in the workplace

The Study sheds light on the mind health and all-round wellbeing of women in Hong Kong, uncovering important insights into the challenges they face both professionally and personally. According to the Study, nearly two-thirds (61%) of female respondents in Hong Kong agreed that all genders are treated equally in their workplace.

Despite that, the Study revealed a gap in gender equality in the workplace, nearly half of female respondents in Hong Kong reported that their abilities have been doubted or undervalued because of their gender, while 25% said they have experienced unwanted gender-related comments.

Female executives suffer from significant financial stress despite higher income

Concerns about financial security and wellbeing are also highlighted in the Study. 36% of female respondents in Hong Kong reported that their current financial situation causes them significant stress. Despite higher income levels, 42% of female senior executives conveyed significant stress caused by their financial situation, the highest percentage among all the surveyed occupations. This could be attributed to the added pressure that comes with maintaining higher living standards and coping with societal expectations of success.

Zooming in on their financial future, only one-third (32%) of female respondents in Hong Kong said they feel secure, significantly lower than the 42% male respondents.

Juggling responsibilities limits regular physical activity

When asked about their one "big wish", 34% expressed their desire for improving physical health which is a key contributor to mental wellbeing.

However, only 24% of women said they regularly get more than 150 minutes of moderate intensity exercise each week, compared to 32% of male respondents. While underlining the city's need to promote an active lifestyle, the findings also suggest that time constraints due to multiple roles and responsibilities, including work and caregiving, may limit opportunities for women to engage in regular physical activity.

Andrea Wong, Chief Marketing and Customer Officer, AXA Hong Kong and Macau, remarked, "Women tend to face a unique set of challenges having to balance multiple roles and responsibilities stemming from the workplace and at home. At AXA, we believe that being a woman shouldn't be a risk and are determined to support them with innovative products and services that better protect women's health and wellness. We also believe that it is essential to create avenues for women to prioritise their physical health to achieve better mind health. We do so through organising our annual signature events such as AXA Better Me Weekend and Green Power Hike to create a brighter and healthier future not only for just women but the general public as a whole."

AXA remains steadfast in offering comprehensive wellness solutions that help women in Hong Kong thrive and succeed. From physical health, personal finance, to career development, AXA will continue to provide resources and support that address the specific challenges women face in every aspect of their lives, with the goal of fostering better mind health and overall wellbeing for women in Hong Kong.

[1] The report uses the term mind health rather than mental health to emphasise the positive objective of the study which is to help break down the stigma still associated with mental illness

Hashtag: #AXA

The issuer is solely responsible for the content of this announcement.

About AXA Study of Mind Health and Wellbeing (AXA Mind Health Study)

AXA Mind Health Study is an annual study of mind health and wellbeing to assess the current state of mind health across the globe, and to provide individuals and businesses with the insights and advice needed to foster positive mind health.

AXA Mind Health Study 2023 was conducted in collaboration with IPSOS between September and October 2022 by means of online survey and online interviews among a total of 30,000 respondents aged between 18 to 74 years old across 16 European, American and Asian regions, namely France, the UK, Germany, Spain, Italy, Ireland, Belgium, Switzerland, Turkey, US, Mexico, mainland China and Hong Kong, Japan, Thailand and Philippines.

In Hong Kong, a total of 2,336 respondents aged between 18 and 74 were surveyed.

About AXA Hong Kong and Macau

AXA Hong Kong and Macau is a member of the AXA Group, a leading global insurer with presence in 51 markets and serving 93 million customers worldwide. Our purpose is to act for human progress by protecting what matters.

As one of the most diversified insurers in Hong Kong, we offer integrated solutions across Life, Health and General Insurance. We are the largest General Insurance provider and a major Health and Employee Benefits provider. Our aim is to not only be the insurer to provide comprehensive protection to our customers, but also a holistic partner to the individuals, businesses and community we serve. At the core of our service commitment is continuous product & service innovation and customer experience enrichment, which is achieved through actively listening to our customers' needs and leveraging and investing in technology and digital transformation.

We embrace our responsibility to be a driving force against climate change and a force for good to create shared value for our community. We are proud to be the first to address the importance of mental health through different products and services and thought leading iconic research. Our overall Sustainability Strategy, with emphasis on climate strategy and biodiversity commitment, is developed based on TCFD recommendations. We are committed to integrating environmental, social and governance factors across our business and strive to contribute to a sustainable future through 3 distinct roles - as an investor, insurer and an exemplary company.

THIS PRESS RELEASE IS AVAILABLE ON AXA'S WEBSITE: AXA.COM.HK

IMPORTANT LEGAL INFORMATION AND CAUTIONARY STATEMENTS CONCERNING FORWARD-LOOKING STATEMENTS

Certain statements contained herein may be forward-looking statements including, but not limited to, statements that are predictions of or indicate future events, trends, plans or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause AXA's actual results to differ materially from those expressed or implied in the forward-looking statements. Please refer to Part 4 - "Risk factors and risk management" of AXA's Universal Registration Document for the year ended December 31, 2019, for a description of certain important factors, risks and uncertainties that may affect AXA's business, and/or results of operations. AXA undertakes no obligation to publicly update or revise any of these forward-looking statements, whether to reflect new information, future events or circumstances or otherwise, except as part of applicable regulatory or legal obligations.

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