HSBC Life Launches Medical VIP Lounge (HSBC Life Care+ Premium Lounge) in China Shenzhen New Frontier United Family Hospital (SZUFH) Which is 15 Minutes Drive from Futian Port of Entry, Services Include Medical Concierge Support, Priority Appointment Bookings, Limousine Arrangements & Catering, HSBC Life Policyholders Can Access Preferential Offer on Selected Inpatient and Outpatient Medical Services
24th October | Hong Kong
HSBC Life has launched the first medical VIP lounge (HSBC Life Care+ Premium Lounge) in China Shenzhen New Frontier United Family Hospital (SZUFH), which is a 15 minutes drive from Futian Port of Entry, with services include medical concierge support, priority appointment bookings, limousine arrangements & catering. HSBC Life policyholders can also access preferential offer on selected inpatient and outpatient medical services. In 2025 October, HSBC Life issued a $400 million life insurance policy in Singapore in 2025 September, and issued 5 life insurance policies with $420 million sum insured to 5 UHNWs in Singapore, Hong Kong & China Mainland in 2025 June. In 2025 September, HSBC Life launched a new life insurance plan HSBC Bright Income Insurance Plan in Hong Kong for clients to prepare for retirement & wealth transfer. The insurance plan minimum is $25,000 (HKD 200,000) premium over 3 years, has a 4.6% monthly dividend (Non-guaranteed) of policy amount from 4th policy year till age 99, additional monthly benefits for designated illness and option to retrieve premiums paid if diagnosed with cancer, stroke or heart attack. HSBC Bright Income Insurance Plan – HSBC Bright Income Insurance Plan is a long-term participating life insurance plan with a savings element and non-guaranteed returns. underwritten by HSBC Life (International) Limited (“HSBC Life”). Part of the premium pays for the insurance and related costs. It is not equivalent or similar to any kind of bank deposit, annuity insurance products or qualifying deferred annuity policies. Policyholders are subject to HSBC Life’s credit risk and early surrender loss. This product will not provide any tax deduction benefit to the policyholder. In 2025 August, HSBC Life Singapore announced the launch of 3 enhanced life lnsurance solutions with 1) Flagship indexed universal life plan (HSBC Life Diamond Prestige IUL II) now providing access to 3 new indices The Nasdaq-100 Index, S&P U.S. Tactical Multi-Asset Index & S&P Global Diversified Index in addition to current S&P 500 Index, 2) Whole life insurance solution (HSBC Life Emerald Legacy Life III) with single premium or limited premium payment terms (5, 10 or 15 years) & death benefit payout options (Lump sum or staggered payouts), 3) Investment-linked plan (HSBC Life Goal Builder II) with increased welcome bonus of maximum 55%. In 2025 July, HSBC launched HSBC Singapore first Health & Wellness Centre in HSBC Wealth Centre at The Star Vista operated by Raffles Medical Group to service customers of HSBC Life Singapore, including free medical underwriting for HSBC Singapore policies. HSBC customers will have access to cashless arrangements for outpatient care, telemedicine services, 24/6 concierge & emergency care coordination discounted health screening packages & early detection initiatives. In 2025 April, HSBC Singapore opened a 2nd HSBC Wealth Centre at The Star Vista after opening of HSBC Wealth Centre at Marina Bay Financial Centre Tower 2 in 2024 June. The Star Vista HSBC Wealth Centre in Singapore features social enterprise coffee company Lifestyle Cafe run by youths, serving HSBC customers & public including serving a custom HSBC Earl Grey Yuan Yang. HSBC Premier customers will have complimentary refreshments including the signature HSBC Tea Blend. In 2024 October, HSBC Life ($130 billion AUM) appointed William Chan as Global Chief Investment Officer & Head of Investments for Global Insurance. William KN Chan has more than 26 years of investment experience including 25 years at HSBC Asset Management & HSBC Life, and 1 year at UBS. Based in Hong Kong, William Chan reports to Edward Moncreiffe (HSBC CEO of Global Insurance). In 2024 July, HSBC announced the appointment of 12-year veteran Daisy Tsang as CEO of HSBC Life Hong Kong effective 1st August 2024. Daisy Tsang is currently HSBC Life Hong Kong interim CEO, Chief Distribution & Customer Officer. In 2024 March, HSBC Life Hong Kong announced breaking the Guinness World Records of the “Most Valuable Life Insurance Policy Sold” with a $250 million policy for an UHNW individual (Ultra high net worth). The contract is HSBC Life Paramount Global Life Insurance Plan, a whole of life protection policy with wealth preservation and legacy planning features. In the last 12 months, HBSC Life had issued 10 other policies with more than $50 million value. More info below:
“ HSBC Life Launches Medical VIP Lounge (HSBC Life Care+ Premium Lounge) in China Shenzhen New Frontier United Family Hospital (SZUFH) Which is 15 Minutes Drive from Futian Port of Entry, Services Include Medical Concierge Support, Priority Appointment Bookings, Limousine Arrangements & Catering, HSBC Life Policyholders Can Access Preferential Offer on Selected Inpatient and Outpatient Medical Services “
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Daisy Tsang, CEO, HSBC Life Hong Kong and Macau: “We are excited to establish a medical VIP Lounge in a premium facility like Shenzhen New Frontier United Family Hospital. As Hong Kong’s number one insurer, we recognise the growing need for high-quality, personalised medical support, especially as the Greater Bay Area becomes an increasingly important destination for travel and retirement for our customers.”
Brian Siu, Executive Director of New Frontier & COO- New Frontier GBA: “We are delighted to collaborate with HSBC Life on this initiative, which not only marks a new milestone in the development of cross-border healthcare services, but also underscores our shared commitment to delivering seamless, convenient, and high-quality medical experiences for customers across the Greater Bay Area and Hong Kong. At Shenzhen New Frontier United Family Hospital, we adhere to international standards, combining advanced medical technology with exceptional service quality to provide safe and personalised care for patients from diverse regions. Through this partnership, we aim to ensure HSBC Life customers enjoy dedicated support and premium healthcare services when seeking care across borders, further promoting the integration and advancement of high-end healthcare in the Greater Bay Area.”
HSBC Life Launches New Life Insurance Plan HSBC Bright Income Insurance Plan in Hong Kong for Clients to Prepare for Retirement & Wealth Transfer, Minimum $25,000 (HKD 200,000) Premium Over 3 Years with 4.6% Monthly Dividend (Non-Guaranteed) of Policy Amount from 4th Policy Year Till Age 99, Additional Monthly Benefits for Designated Illness and Option to Retrieve Premiums Paid if Diagnosed with Cancer, Stroke or Heart Attack
23rd September – HSBC Life has launched a new life insurance plan HSBC Bright Income Insurance Plan in Hong Kong for clients to prepare for retirement & wealth transfer. The insurance plan minimum is $25,000 (HKD 200,000) premium over 3 years, has a 4.6% monthly dividend (Non-guaranteed) of policy amount from 4th policy year till age 99, additional monthly benefits for designated illness and option to retrieve premiums paid if diagnosed with cancer, stroke or heart attack. HSBC Bright Income Insurance Plan – HSBC Bright Income Insurance Plan is a long-term participating life insurance plan with a savings element and non-guaranteed returns. underwritten by HSBC Life (International) Limited (“HSBC Life”). Part of the premium pays for the insurance and related costs. It is not equivalent or similar to any kind of bank deposit, annuity insurance products or qualifying deferred annuity policies. Policyholders are subject to HSBC Life’s credit risk and early surrender loss. This product will not provide any tax deduction benefit to the policyholder. In 2025 August, HSBC Life Singapore announced the launch of 3 enhanced life lnsurance solutions with 1) Flagship indexed universal life plan (HSBC Life Diamond Prestige IUL II) now providing access to 3 new indices The Nasdaq-100 Index, S&P U.S. Tactical Multi-Asset Index & S&P Global Diversified Index in addition to current S&P 500 Index, 2) Whole life insurance solution (HSBC Life Emerald Legacy Life III) with single premium or limited premium payment terms (5, 10 or 15 years) & death benefit payout options (Lump sum or staggered payouts), 3) Investment-linked plan (HSBC Life Goal Builder II) with increased welcome bonus of maximum 55%. In 2025 July, HSBC launched HSBC Singapore first Health & Wellness Centre in HSBC Wealth Centre at The Star Vista operated by Raffles Medical Group to service customers of HSBC Life Singapore, including free medical underwriting for HSBC Singapore policies. HSBC customers will have access to cashless arrangements for outpatient care, telemedicine services, 24/6 concierge & emergency care coordination discounted health screening packages & early detection initiatives. In 2025 April, HSBC Singapore opened a 2nd HSBC Wealth Centre at The Star Vista after opening of HSBC Wealth Centre at Marina Bay Financial Centre Tower 2 in 2024 June. The Star Vista HSBC Wealth Centre in Singapore features social enterprise coffee company Lifestyle Cafe run by youths, serving HSBC customers & public including serving a custom HSBC Earl Grey Yuan Yang. HSBC Premier customers will have complimentary refreshments including the signature HSBC Tea Blend. In 2024 October, HSBC Life ($130 billion AUM) appointed William Chan as Global Chief Investment Officer & Head of Investments for Global Insurance. William KN Chan has more than 26 years of investment experience including 25 years at HSBC Asset Management & HSBC Life, and 1 year at UBS. Based in Hong Kong, William Chan reports to Edward Moncreiffe (HSBC CEO of Global Insurance). In 2024 July, HSBC announced the appointment of 12-year veteran Daisy Tsang as CEO of HSBC Life Hong Kong effective 1st August 2024. Daisy Tsang is currently HSBC Life Hong Kong interim CEO, Chief Distribution & Customer Officer. In 2024 March, HSBC Life Hong Kong announced breaking the Guinness World Records of the “Most Valuable Life Insurance Policy Sold” with a $250 million policy for an UHNW individual (Ultra high net worth). The contract is HSBC Life Paramount Global Life Insurance Plan, a whole of life protection policy with wealth preservation and legacy planning features. In the last 12 months, HBSC Life had issued 10 other policies with more than $50 million value. More info below:
HSBC Life Singapore Launches 3 Enhanced Life Insurance Solutions with 1) Flagship Indexed Universal Life Plan (HSBC Life Diamond Prestige IUL II) Now Providing Access to 3 New Indices The Nasdaq-100 Index, S&P U.S. Tactical Multi-Asset Index & S&P Global Diversified Index in Addition to Current S&P 500 Index, 2) Whole Life Insurance Solution (HSBC Life Emerald Legacy Life III) with Single Premium or Limited Premium Payment Terms (5, 10 or 15 Years) & Death Benefit Payout Options (Lump Sum or Staggered Payouts), 3) Investment-Linked Plan (HSBC Life Goal Builder II) with Increased Welcome Bonus of Maximum 55%
13th August – HSBC Life Singapore has announced the launch of 3 enhanced life lnsurance solutions with 1) Flagship indexed universal life plan (HSBC Life Diamond Prestige IUL II) now providing access to 3 new indices The Nasdaq-100 Index, S&P U.S. Tactical Multi-Asset Index & S&P Global Diversified Index in addition to current S&P 500 Index, 2) Whole life insurance solution (HSBC Life Emerald Legacy Life III) with single premium or limited premium payment terms (5, 10 or 15 years) & death benefit payout options (Lump sum or staggered payouts), 3) Investment-linked plan (HSBC Life Goal Builder II) with increased welcome bonus of maximum 55%. HSBC Life Diamond Prestige IUL II – An enhanced version of HSBC Life’s flagship indexed universal life plan, Diamond Prestige IUL II provides lifelong protection alongside long-term capital growth potential. The plan now offers access to three new indices in addition to the S&P 500 Index: The Nasdaq-100 Index; the S&P U.S. Tactical Multi-Asset Index that offers a crediting interest multiplier of 220% (current assumed rate) of the index’s positive returns; and the S&P Global Diversified Index that offers a crediting interest multiplier of 108% (current assumed rate) of the index’s positive returns and 1% floor rate to protect against negative returns. The selection of four index options with flexible allocation aims to support greater portfolio diversification and customisation, in line with financial goals like capital preservation and growth while building a structured, multi-generational legacy. Other features include lifestyle benefits, loyalty bonus, guaranteed minimum surrender values, and flexible death benefit payout options. HSBC Life Emerald Legacy Life III – This refreshed whole life insurance solution provides lifelong protection alongside enhanced flexibility for wealth transfer. Clients can choose from single premium or limited premium payment terms of 5, 10, or 15 years — enabling earlier legacy planning that can be customised to align with financial goals. The limited premium plan offers coverage for death and terminal illness up to age 120, along with a guaranteed cash value of up to 100% of premiums paid, beyond year 40. The plan also offers flexible death benefit payout options that give clients the choice to distribute the benefit as a lump sum or as in staggered payouts, supporting estate planning by managing disbursements efficiently. HSBC Life Goal Builder II – Available exclusively through HSBC’s Wealth and Personal Banking (WPB) channel, this investment-linked plan is designed to support medium-to long-term goals such as wealth accumulation, retirement, and children’s education. One of the key enhancements is an increased welcome bonus of up to 55%, to provide an upfront boost to account value. The plan encourages regular savings while offering the flexibility to adapt to changing financial objectives, helping clients bridge the gap to their future wealth ambitions. In 2025 July, HSBC launched HSBC Singapore first Health & Wellness Centre in HSBC Wealth Centre at The Star Vista operated by Raffles Medical Group to service customers of HSBC Life Singapore, including free medical underwriting for HSBC Singapore policies. HSBC customers will have access to cashless arrangements for outpatient care, telemedicine services, 24/6 concierge & emergency care coordination discounted health screening packages & early detection initiatives. In 2025 April, HSBC Singapore opened a 2nd HSBC Wealth Centre at The Star Vista after opening of HSBC Wealth Centre at Marina Bay Financial Centre Tower 2 in 2024 June. The Star Vista HSBC Wealth Centre in Singapore features social enterprise coffee company Lifestyle Cafe run by youths, serving HSBC customers & public including serving a custom HSBC Earl Grey Yuan Yang. HSBC Premier customers will have complimentary refreshments including the signature HSBC Tea Blend. In 2024 October, HSBC Life ($130 billion AUM) appointed William Chan as Global Chief Investment Officer & Head of Investments for Global Insurance. William KN Chan has more than 26 years of investment experience including 25 years at HSBC Asset Management & HSBC Life, and 1 year at UBS. Based in Hong Kong, William Chan reports to Edward Moncreiffe (HSBC CEO of Global Insurance). In 2024 July, HSBC announced the appointment of 12-year veteran Daisy Tsang as CEO of HSBC Life Hong Kong effective 1st August 2024. Daisy Tsang is currently HSBC Life Hong Kong interim CEO, Chief Distribution & Customer Officer. In 2024 March, HSBC Life Hong Kong announced breaking the Guinness World Records of the “Most Valuable Life Insurance Policy Sold” with a $250 million policy for an UHNW individual (Ultra high net worth). The contract is HSBC Life Paramount Global Life Insurance Plan, a whole of life protection policy with wealth preservation and legacy planning features. In the last 12 months, HBSC Life had issued 10 other policies with more than $50 million value. More info below:
Ouling Lu, Chief Product Proposition Officer at HSBC Life Singapore: “Affluent and high-net-worth individuals and families often have cross-border assets and complex, multi-generational wealth needs. With these demographics on the rise in Singapore, insurance solutions that offer legacy certainty, estate liquidity, capital preservation and protection against volatility can provide stability, simplicity and predictability as part of a diversified and integrated wealth strategy.”
$130 Billion HSBC Life Appoints William Chan as Global Chief Investment Officer & Head of Investments for Global Insurance, 26 Years of Investment Experience Including 25 Years at HSBC Asset Management & HSBC Life and 1 Year at UBS
9th October 2024 | Hong Kong
HSBC Life ($130 billion AUM) has appointed William Chan as Global Chief Investment Officer & Head of Investments for Global Insurance. William KN Chan has more than 26 years of investment experience including 25 years at HSBC Asset Management & HSBC Life, and 1 year at UBS. Based in Hong Kong, William Chan reports to Edward Moncreiffe (HSBC CEO of Global Insurance). HSBC Life: “William Chan is appointed Global Chief Investment Officer and Head of Investments for Global Insurance with immediate effect. Based in Hong Kong, he will report to Edward Moncreiffe, Chief Executive Officer, Global Insurance. In this newly created role, William will be responsible for leading a team of investment specialists out of Hong Kong that consolidates expertise and experience across our multiple existing Chief Investment Officer (CIO) teams, delivering a more synergistic institutional investment capability for our more than USD130bn of investment assets and over USD13bn of investment-linked assets in Asia and internationally. He will take global accountability for the optimisation of Insurance’s investment portfolio, the determination of Strategic Asset Allocations, as well as the strategic evolution of our Linked investment capabilities. With more than three decades of industry experience, William possesses broad market knowledge across major asset classes and asset-liability management, having held a number of senior positions in HSBC Asset Management and UBS Asset Management in Hong Kong and the UK. Since 2016, William has been serving as CIO of HSBC Life Hong Kong, the leading insurer in Hong Kong by both new business premiums (NBP) and annualised new premiums (ANP), and has been a driving force in the successful expansion of the company’s investment portfolio. As one of the leaders of the Green Task Force of the Hong Kong Federation of Insurers, he contributed to the launch of the Hong Kong Insurance Industry Climate Charter, in which HSBC Life Hong Kong is a founding signatory.” In 2024 July, HSBC announced the appointment of 12-year veteran Daisy Tsang as CEO of HSBC Life Hong Kong effective 1st August 2024. Daisy Tsang is currently HSBC Life Hong Kong interim CEO, Chief Distribution & Customer Officer.
Edward Moncreiffe, CEO of Global Insurance, HSBC Holdings: “As one of the fastest growing businesses within HSBC, we are not only a topthree international insurer in Asia but also a USD130bn institutional asset owner. This new role reflects the importance of investments in delivering upon both our policyholder and shareholder expectations. Given William’s proven ability to deliver robust investment returns, even amidst low interest rates, market volatility, and inflationary pressures, I am confident in our potential to keep our promises to both policyholders and shareholders going forward .”
HSBC Appoints 12-Year Veteran Daisy Tsang as CEO of HSBC Life Hong Kong Effective 1st August 2024, Daisy Tsang is Currently HSBC Life Hong Kong Interim CEO, Chief Distribution & Customer Officer
27th July 2024 – HSBC has announced the appointment of 12-year veteran Daisy Tsang as CEO of HSBC Life Hong Kong effective 1st August 2024. Daisy Tsang is currently HSBC Life Hong Kong interim CEO, Chief Distribution & Customer Officer. HSBC Life (25/7/24): “HSBC has announced the appointment of Daisy Tsang as Chief Executive Officer (CEO) of HSBC Life Hong Kong. This appointment will take effect from 1 August 2024, subject to regulatory approval. Ms. Tsang, a seasoned insurance professional with over two decades of experience with the HSBC Group, is currently serving as Interim CEO and Chief Distribution and Customer Officer of HSBC Life Hong Kong. In her new role, she will drive the strategic growth priorities of HSBC Life in Hong Kong and Macau. HSBC Life is the leading insurer in Hong Kong with a market share of 26% by New Business Premiums and 20% by Annualised New Premiums. Since joining HSBC Life in 2012, Ms. Tsang has made significant contributions to cement its leadership in Hong Kong. As Chief Distribution and Customer Officer, she led the successful relaunch of the Macau distribution arm, expanded the insurer’s broker channel and bancassurance model to capture growing demand in the high-net-worth segments, and implemented numerous digital transformation initiatives to enhance customer experience. Her leadership of the marketing function also played a pivotal role in strengthening the HSBC Life brand through impactful advertising campaigns. Ms Tsang had originally joined the HSBC Group in Hong Kong as a marketing executive in 2000. Ms. Tsang will manage the company’s operations in both Hong Kong and Macau. She will report to Edward Moncreiffe, General Manager and CEO, Global Insurance, HSBC Holdings plc, and Maggie Ng, General Manager, Wealth and Personal Banking, Hong Kong, HSBC.” In 2024 April, HSBC announced the appointment of HSBC 18-year veteran Ed Moncreiffe as HSBC CEO of Global Insurance succeeding Greg Hingston, with Daisy Tsang appointed as interim CEO of HSBC Life Hong Kong.
Edward Moncreiffe, General Manager & CEO, Global Insurance, HSBC Holdings: “Insurance is an accelerator and a differentiator of our global wealth management franchise, and in our home market of Hong Kong, as the market-leading insurer, we will continue to invest to meet the evolving wealth and health needs of our onshore and offshore customers. I am confident that with Daisy’s extensive experience across insurance and banking distribution, product development, business strategy, marketing, and customer experience, she will provide both continuity and ambition to accelerate our growth and to capture the rising demand for insurance protection and wealth preservation within the Greater Bay Area and serve our customers with excellence.”
Maggie Ng, General Manager, Wealth & Personal Banking, Hong Kong, HSBC: “In today’s world, ‘total wealth’ is not limited to financial health but also physical and mental well-being. At HSBC, we’re committed to supporting this comprehensive view of wealth, catering to customers’ diverse needs at the different stages of their lives. Daisy’s expertise will help ensure we are able to support the range of retirement, health and protection needs of our customers across personal banking, Premier, Premier Elite and Private Banking. We look forward to her leading HSBC Life Hong Kong to new heights.”
HSBC Appoints 18-Year Veteran Ed Moncreiffe as HSBC CEO of Global Insurance Succeeding Greg Hingston, Daisy Tsang Appointed as Interim CEO of HSBC Life Hong Kong
10th April 2024 – HSBC has announced the appointment of HSBC 18-year veteran Ed Moncreiffe as HSBC CEO of Global Insurance succeeding Greg Hingston, with Daisy Tsang appointed as interim CEO of HSBC Life Hong Kong. HSBC (8/4/24): “Ed Moncreiffe has been appointed CEO of Global Insurance with immediate effect, taking over from Greg Hingston who is leaving HSBC to pursue other opportunities. Ed Moncreiffe has been with HSBC Group for 18 years, serving in several leadership roles, such as Head of Life and Pensions Brazil, Global Head of Retail Insurance, and Global Head of Insurance Strategic Partnerships. Under his leadership, HSBC Life has secured a leading position in the Hong Kong market and has been rapidly growing in the health business sector in the region. Daisy Tsang, currently Chief Distribution and Customer Officer at HSBC Life Hong Kong, will serve as the interim CEO of HSBC Life Hong Kong until a permanent successor is appointed.” HSBC – Nuno Matos, the Chief Executive Officer of Wealth and Personal Banking (WPB) emphasized the significance of the insurance sector to HSBC’s strategy of becoming a top global wealth manager. He expressed his delight in appointing Ed to head the global business and is confident in Ed’s capability to drive the next growth phase. The strategy includes leveraging recent investments in HSBC Life to explore new opportunities in key markets like Hong Kong, mainland China, Singapore, and India, and to enhance market penetration in the UK and Mexico. The aim is to not only boost the insurance sector’s contribution to the wealth business but also to increase customers’ resilience. The rising global demand for various insurance services, including private health, life protection, and retirement planning, presents an opportunity. HSBC Life plans to integrate insurance more closely with the group’s broader offerings to provide comprehensive wealth solutions for customers. HSBC intends to broaden and enhance insurance options for customers through successful partnerships with leading insurers, especially in markets where HSBC Life does not produce its own products. In March 2024, HSBC Life Hong Kong announced breaking the Guinness World Records of the “Most Valuable Life Insurance Policy Sold” with a $250 million policy for an UHNW individual (Ultra high net worth). The contract is HSBC Life Paramount Global Life Insurance Plan, a whole of life protection policy with wealth preservation and legacy planning features. In the last 12 months, HBSC Life had issued 10 other policies with more than $50 million value. More info below:
HSBC Life Hong Kong Broke Guinness World Records of Most Valuable Life Insurance Policy Sold with a $250 Million Policy for an UHNW Individual, Contract is HSBC Life Paramount Global Life Insurance Plan, HBSC Life Issued 10 Other Policies with More than $50 Million Value Over Last 12 Months
2nd March 2024 – HSBC Life Hong Kong has broke the Guinness World Records of the “Most Valuable Life Insurance Policy Sold” with a $250 million policy for an UHNW individual (Ultra high net worth). The contract is HSBC Life Paramount Global Life Insurance Plan, a whole of life protection policy with wealth preservation and legacy planning features. In the last 12 months, HBSC Life had issued 10 other policies with more than $50 million value. HSBC Life: “HSBC Life Hong Kong (“HSBC Life”) broke the existing Guinness World Records of the most valuable life insurance policy ever sold1 with a US$250m life insurance policy (the “Policy”) issued to an individual. Issued, and fully underwritten by HSBC Life, the Policy was taken out earlier this year by an Ultra High Net Worth (“UHNW”) customer, introduced via the insurer’s broker partner Charles Monat Group. The contract is an HSBC Life Paramount Global Life Insurance Plan, a whole of life protection policy with wealth preservation and legacy planning features. Apart from the Policy, HSBC Life also issued 10 other policies with values of US$50m or higher to individual customers over the past 12 months. The issuance of such high value insurance policies serves as a compelling evidence of the growing demand among UHNW individuals for life insurance solutions as a tool for wealth transfer and legacy planning.”
Edward Moncreiffe, CEO, HSBC Life Hong Kong & Macau: “Asia is home to one of the fastest growing UHNW populations in the world, and as such we are seeing a substantial increase in demand for insurance solutions to address business succession, estate management and legacy planning needs. The issuance of these high value life insurance policies proves that Hong Kong has reaffirmed its position as both a preferred destination for wealth management and a leading international insurance hub. The Hong Kong life insurance market has a number of characteristics that puts us in a strong position to capture this growth in regional UHNW wealth transfer demand. The market has deep talent pools across intermediaries, underwriters and actuaries, strong competition amongst international banks, brokers and insurers, well capitalised insurance companies with strong credit ratings and a sound regulatory regime. As the market-leading insurer in Hong Kong, HSBC Life is well-positioned to capture its fair share of this demand and we will continue to invest in our people, products and services in this segment accordingly.”
The Hongkong and Shanghai Banking Corporation Limited
The Hongkong and Shanghai Banking Corporation Limited is the founding member of the HSBC Group. HSBC serves customers worldwide from offices in 62 countries and territories. With assets of US$3,039bn at 31 December 2023, HSBC is one of the world’s largest banking and financial services organisations.
HSBC Life (International) Limited
HSBC Life (International) Limited, incorporated in Bermuda with limited liability (“HSBC Life”) is an indirect wholly-owned subsidiary of The Hongkong and Shanghai Banking Corporation Limited. HSBC Life is authorised and regulated by the Insurance Authority of the Hong Kong SAR to carry on long-term insurance business in the Hong Kong SAR. As one of the leading life insurers in Hong Kong, HSBC Life offers a wide range of life insurance products, including annuities, to retail and commercial customers in Hong Kong through HSBC banking channels and third party brokers. HSBC Life provides tailored solutions to meet the protection, education, retirement, managing growth, legacy planning and medical needs of its customers.
HSBC Appoints Harpreet Bindra as HSBC Life Singapore CEO Succeeding Ho Lee Yen, HSBC Life Singapore is Combined Business of HSBC Insurance & Acquisition of AXA Singapore in 2022 February
1st September 2023 – HSBC has appointed Harpreet Bindra as HSBC Life Singapore CEO succeeding Ho Lee Yen, with Harpreet Bindra becoming the new CEO of HSBC Life Singapore (the combined business of HSBC Insurance & HSBC acquisition of AXA Singapore in 2022 February). Harpreet Bindra had joined HSBC in 2018, and was most recently Global Head of Strategy & Business Development for HSBC Global Insurance & Partnerships. Harpreet Bindra has held numerous senior leadership roles in insurance, banking and asset management, including at Prudential, Daiwa Securities & ING Group in Singapore, Hong Kong, India and the Netherlands. HSBC: “Harpreet will lead HSBC Life Singapore and drive the execution of our strategy in this dynamic insurance and wealth market. He brings more than two decades of leadership experience in the insurance and financial services industry and was most recently Global Head of Strategy and Business Development for HSBC Global Insurance and Partnerships, based in Hong Kong. Reporting to Greg Hingston, CEO, HSBC Global Insurance and Partnerships and to Ashmita Acharya, Head of Wealth and Personal Banking (WPB), Singapore, Harpreet will continue to be part of the HSBC Life Global Executive Committee and will join the HSBC WPB Singapore Executive Committee. Harpreet will succeed Ho Lee Yen, who has decided to spend more time with her family, having successfully completed the integration of the businesses of AXA Singapore and HSBC Insurance, laying a solid foundation for the next phase of growth for HSBC Life Singapore.” More info below.
Greg Hingston, CEO, HSBC Global Insurance and Partnerships: “Harpreet’s appointment as the CEO of HSBC Life Singapore comes at a pivotal time when we are investing and growing our insurance and wealth businesses. Singapore is a strategically important market for HSBC and we are expanding propositions, channels and platforms to meet the health, protection and wealth management goals of our individual and corporate customers. I am confident that under Harpreet’s leadership, HSBC Life Singapore will realise its potential with best-in-class propositions for our customers across their wealth journey. We thank Lee Yen for her contributions, particularly for facilitating a smooth transition as we combined the two businesses, to position HSBC Life Singapore well for future success.”
Ashmita Acharya, Head of Wealth & Personal Banking, HSBC Singapore: “The success of HSBC Life Singapore is key to achieving HSBC’s ambition of becoming a leading wealth manager in Asia and capturing the full breadth of opportunities for HSBC in Singapore. Harpreet’s extensive insurance experience in Asia and proven leadership qualities, matched with the combined strengths of the HSBC Group and HSBC Life, will allow us to successfully execute our insurance and wealth strategy in this increasingly important international financial centre.”
Harpreet Bindra, HSBC Life Singapore CEO
Harpreet Bindra joined HSBC in 2018 to drive the strategic growth agenda for HSBC’s insurance manufacturing operations in 10 markets across Asia, Europe and Latin America, as well as develop strategic partnerships with global insurers across 30 markets. He has successfully led several strategic growth initiatives for the Group, including the acquisition of AXA Singapore.
Prior to HSBC, Harpreet held a number of leadership roles across Insurance, Banking and Asset Management, in companies including Prudential Financial Inc., Daiwa Securities and ING Group in Singapore, Hong Kong, India and the Netherlands. Harpreet has a degree in Business Economics and holds an MBA in Finance and Strategy.
Harpreet will lead HSBC Life Singapore and drive the execution of our strategy in this dynamic insurance and wealth market. He brings more than two decades of leadership experience in the insurance and financial services industry and was most recently Global Head of Strategy and Business Development for HSBC Global Insurance and Partnerships, based in Hong Kong. Reporting to Greg Hingston, CEO, HSBC Global Insurance and Partnerships and to Ashmita Acharya, Head of Wealth and Personal Banking (WPB), Singapore, Harpreet will continue to be part of the HSBC Life Global Executive Committee and will join the HSBC WPB Singapore Executive Committee.
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