Reinsurance News
HSBC
HSBC’s Wayfoong becomes Hong Kong first captive insurer formed by a multinational enterprise
13th May 2025
HSBC Group has received approval from the Insurance Authority (IA) to set up a captive insurance company, Wayfoong (Asia) Limited, in Hong Kong, which has become the first captive insurer established in the city by a multinational enterprise. A captive insurer is designed primarily to cope with the multifarious perils borne by ... Read the full article
Marsh signs five-year agreement with HSBC
2nd March 2022
Insurance broker and risk advisor Marsh has signed a five-year broker agreement with HSBC, building on an 11-year relationship which began in 2010. Under the agreement, HSBC commercial banking customers will have access to world-class insurance products not currently available through the HSBC portfolio. It covers seven markets including France, Hong Kong, ... Read the full article
HSBC completes AXA Singapore purchase
14th February 2022
AXA has completed the sale of AXA Singapore to HSBC for a reported $529m. The amount being paid is less than was reported here in August, when Reinsurance News wrote that the sale was slated to be for $575m. That followed reports in January that HSBC Holdings was among the ... Read the full article
HSBC approved to take full ownership of HSBC Life China
31st December 2021
HSBC Holdings plc has underscored its commitment to expanding in China after its indirect wholly-owned subsidiary, HSBC Insurance (Asia) Limited, received approval from the Shanghai office of the China Banking and Insurance Regulatory Commission to acquire the remaining 50% stake in HSBC Life Insurance Company Limited (HSBC Life China). The approval ... Read the full article
HSBC Life & Insurance Partnerships names Greg Hingston global CEO
16th November 2021
HSBC Life and Insurance Partnerships has named Greg Hingston as its global CEO, a role he begins on January 1. Hingston succeeds Bryce Johns, who is set to depart the company in the new year. He has served within the HSBC Group for 15 years and was previously Head of WPB Hong ... Read the full article
AXA Singapore to be acquired by HSBC for $575 million
16th August 2021
Global insurer AXA has entered into an agreement with HSBC Insurance (Asia-Pacific) Holdings Ltd over the sale of AXA Insurance Pte Ltd (AXA Singapore) for a total cash consideration of USD 575 million (€487mn). It was reported back in January that British bank HSBC Holdings was among the shortlisted bidders ... Read the full article
HSBC considering a bid for Aviva’s Asian operations, reports suggest
22nd August 2019
London-based banking giant HSBC Holdings Plc may be considering a bid to take over the Asian operations of Aviva Plc as part of a push for further business diversification in the region, according to reports from Bloomberg. Sources at the publication said HSBC was in the early stages of weighing an ... Read the full article
HSBC UK pension completes £7bn longevity swap with Prudential
6th August 2019
The Prudential Insurance Company of America (PICA), a subsidiary of Prudential Financial, Inc., has completed a longevity swap transaction with the HSBC Bank (UK) Pension Scheme. The longevity swap is the second largest transaction ever completed for a UK pension scheme, and concerns the longevity risk in relation to c£7 billion ... Read the full article
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