HSBC renews exclusive Bancassurance partnership with Allianz in Asia and introduces two new products

HSBC Sri Lanka in partnership with Allianz Sri Lanka launched Allianz Suwasahana, which offers customized individual long term health insurance plans with a global coverage up to LKR 50 Mn, along with a Life Insurance cover. This will be followed by the introduction of Motor Insurance in November 2022, helping both organizations offer unparalleled service, together with attractive benefits and competitive premium rates from Allianz, for HSBC Premier customers.

These two new products add to the existing global insurance products offered by Allianz to HSBC Premier customers, covering Global Health Medical Insurance that provides high quality health care services worldwide, and Student Companion Travel Insurance, providing insurance solutions for students traveling for studies overseas.

The launch of these two new products follows an earlier announcement that HSBC had entered into a 15-year exclusive Bancassurance partnership with Allianz Asia Pacific (Allianz), to provide a comprehensive range of insurance products to HSBC customers in six markets across Asia. The new partnership covers the exclusive distribution of life insurance products in Taiwan, Indonesia, Malaysia, the Philippines and Sri Lanka, and non-life insurance products in Malaysia and Sri Lanka.

James Rebert, Head of Wealth & Personal Banking at HSBC Sri Lanka stated, “We are happy to further strengthen our partnership with Allianz and expand our insurance offering by providing our customers with a more comprehensive suite of products and services to meet their everyday needs. We understand the pressures customers are facing given the challenging economic conditions at present, and as the leading international bank our ambition is to support the protection, wealth and health needs of our customers by providing best-in-class insurance products and services that create value and convenience for them.”