HSBC renews bancassurance partnership with Allianz

It will cover six markets, with HSBC and Allianz offering life and non-life products.

HSBC has renewed its bancassurance partnership with Allianz Asia Pacific and has entered into a 15-year exclusive distribution agreement to provide insurance products to HSBC across six markets in Asia.

Allianz will offer life insurance products to HSBC customers in Taiwan, Indonesia, Malaysia, the Philippines, and Sri Lanka; and non-life insurance products in Malaysia and Sri Lanka.

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In China, HSBC and Allianz’s agreement will be offered on a non-exclusive, preferred basis in select cities where HSBC Life currently has no presence.