London-based HSBC has entered a multi-year distribution agreement with insurer MSIG in Singapore.
HSBC has entered a 15-year exclusive distribution agreement with MSIG Singapore, according to a statement.
Through the partnership, MISG will provide a range of general insurance propositions to HSBC’s retail and corporate banking clients in Singapore. The insurance products will be distributed by leveraging HSBC’s personal and commercial banking channels and platforms.
100-Year Track Record
MSIG is a wholly-owned subsidiary of Mitsui Sumitomo Insurance with 40,000 employees and a presence in 50 countries and regions worldwide.
Within Asia, MSIG is represented in all ASEAN markets as well as in Australia, New Zealand, Hong Kong, China, Korea, India and Taiwan. MSIG Singapore is a top five general insurer in the city-state by gross written premiums, according to data from the General Insurance Association.
«We are delighted to enter into this strategic partnership with MSIG, one of the leading general insurers in the region, with a presence and proven track record in Singapore for over 100 years,» said Greg Hingston, CEO of HSBC global insurance and partnerships.
