AXA Insurance has today announced that it has secured a 10 year partnership with HSBC to provide insurance solutions to HSBC’s small to medium sized business customers.
Following a competitive tender, HSBC will now offer AXA business insurance policies to new customers from 1 January 2010 and to existing customers at renewal.
AXA and HSBC have a number of different partnerships across the world, reflecting the international presence and business knowledge of both companies. In the UK, AXA Insurance provides both travel and home insurance products for Marks & Spencer – which is part of the HSBC Money portfolio.
AXA’s business insurance provides a competitive range of property, casualty and motor products, specially tailored to the needs 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, HSBC’s European Head of Insurance 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”.
