Chubb signs exclusive 15-year insurance deal with one of Hong Kong’s largest banks

Insurer  Chubb has signed an exclusive 15-year general insurance distribution deal with Hang Seng Bank, a principal member of the HSBC Group and one of the largest banking groups in Hong Kong.

The new partnership, which will launch in July 2023, will see Chubb provide Hang Seng banking customers with a comprehensive range of personal and commercial general insurance products and solutions in Hong Kong.

Further details of the general insurance products and solutions to be offered will be announced closer to the time when the new partnership arrangement comes into effect in July.

Rannie Lee, head of wealth and personal banking at Hang Seng, said: “We are delighted to team up with Chubb to provide general insurance services that meet our customers’ diverse and growing demand for protection needs. With our unrivalled strength in digital distribution, customers will enjoy convenient access to a wide range of general insurance solutions.”

Donald Lam, head of commercial banking at Hang Seng, said: “Hang Seng and Chubb’s partnership will provide best-in-class general insurance products that create value and protection for our customers. Building on our leading market position, Hang Seng will further expand its insurance business locally and explore growth opportunities in the Greater Bay Area.”

Scott Simpson, president of Chubb’s general insurance business in Hong Kong SAR and Macau SAR, added: “This partnership with Hang Seng Bank - the leading domestic bank in Hong Kong - creates an excellent opportunity to meet the protection needs of consumers and businesses in this dynamic market. We look forward to working with Hang Seng Bank to co-create innovative and customized insurance solutions that will deliver value for customers and deepen their relationships with the bank.”

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