HSBC will provide AXA business insurance policies to new customers from 1 January 2010, and to existing customers at renewal
AXA Insurance has secured a ten year partnership with HSBC to provide insurance solutions to HSBC’s small to medium sized business customers – reported news-insurances.com.
Following a competitive tender, HSBC will now provide AXA business insurance policies to new customers from 1 January 2010, and to existing customers at renewal.
In the UK, AXA Insurance provides both travel and home insurance products for Marks & Spencer, which is a part of the HSBC Money portfolio.
AXA’s business insurance offers a suite of property, casualty and motor products, specially intended to the requirements of small to medium sized entities in the UK. Insurance has a huge strategic importance for HSBC and this new agreement will help grow this business.
Anthony Middle, managing director of AXA Commercial said: “We are confident that our broad product portfolio, innovative solutions and value-added offerings provide a market-leading small business proposition. AXA is already a leading player in this market, providing insurance to around 25 per cent of the SME community. It’s great to develop our relationship with a company with the same strong brand and inherent values that are part of our success”.
Robert Lang, European head of Insurance of HSBC, said: “We are focused on ensuring that our business and commercial banking customers continue to benefit from high quality insurance solutions. AXA is a market leader in the provision of business insurance to SME customers and we will work together to ensure that our UK customers benefit from their expertise”.