HSBC has announced that it has signed a new, five-year broker agreement with Marsh. The agreement builds on a relationship that began in 2010.
The agreement covers seven markets – France, Hong Kong, mainland China, Mexico, Turkey, the UK and the US – on insurance products for corporates. Marsh will act as a broker for insurance products – including property, casualty, and other risk transfer products – through a referral model in which it sources products from third-party providers to support the insurance needs of HSBC commercial banking customers.
“Insurance is a fundamental element of risk mitigation; it protects businesses against shocks and supports robust recoveries should an incident occur,” said Chris Lay, CEO of Marsh UK & Ireland. “We are delighted to extend Marsh’s collaboration with HSBC as we continue to work together to provide solutions to their customers globally.”
“We are confident this agreement with Marsh will bring a more comprehensive suite of services and products to our customers and offer best-in-class insurance solutions,” said Eric Emore, global head of international and partnerships at HSBC Life. “We are excited to continue and extend our relationship.”