As Singapore’s insurance landscape continues to evolve, HSBC Life has emerged as a key player, providing a comprehensive range of life and health insurance solutions tailored to meet the diverse needs of its customers. With the successful integration of AXA Insurance in 2022, HSBC Life has expanded its reach, now serving over 350,000 clients across multiple channels. Harpreet Bindra, Chief Executive Officer - Singapore, HSBC Life met with Hubbis to discuss how the firm offers an innovative mix of products and services designed to address everything from protection and savings to retirement and legacy planning, ensuring clients—from retail customers to ultra-high-net-worth (UHNW) families—can navigate the complexities of wealth and health management with confidence.

Opening the conversation, Harpreet began by outlining HSBC Life's wide-ranging offerings, particularly emphasizing the impact of its acquisition of AXA Insurance, which was completed in 2022. “HSBC Life is the combined business of what used to be HSBC Life and AXA Insurance,” he noted. “We’re now a multi-channel, multi-product life and health insurer serving over 350,000 customers in Singapore.”

This acquisition allowed HSBC Life to strengthen its position in Singapore’s competitive insurance market, offering a variety of products through three primary distribution channels: tied agency, HSBC Bank, and strategic partnerships with financial advisors (FAs) and high net worth brokers. HSBC Life also has an exclusive distribution tie-up with SingPost.

“We have three core distribution channels,” Harpreet continued.

“Our tied agency, which has close to 1,000 agents; our exclusive partnership with HSBC Bank, where relationship managers and insurance specialists distribute HSBC Life products; and our partnerships with retail FAs and high-net-worth (HNW) brokers including Howden, CMA and Mercer PCS.”

By leveraging these diverse channels, HSBC Life effectively caters to a broad client base, ranging from retail customers looking for basic life and health insurance to high-net-worth individuals seeking tailored wealth and legacy planning solutions.

Expanding into Health Insurance

In addition to life insurance, HSBC Life also has a strong presence in the health insurance market. Harpreet highl...