HSBC Holdings PLC said Wednesday that it has agreed to sell its general-insurance businesses in Hong Kong, Singapore, Argentina and Mexico to AXA Group and Australia’s QBE Insurance Group Ltd. in separate deals valued at about $914 million in cash.
The move is part of HSBC’s efforts to diversify away from noncore businesses, while focusing on its core banking operations.
Following the completion of the deals, AXA and QBE will become the exclusive providers of general-insurance products distributed by HSBC and its Hang Seng Bank unit to retail and commercial banking customers in Hong Kong, China, Singapore, India, Indonesia, Mexico and Argentina under 10-year bancassurance agreements.
Hypertension and Hyperlipidaemia (High Cholesterol) are becoming common ailments in Singapore. Many people with such pre-existing medical conditions are struggling to find medical coverage for themselves. They are either declined or excluded for such conditions.
Although they can choose Moratorium Underwriting offered by Aviva to obtain hospitalization coverage, these pre-existing conditions are still excluded.
Fortunately, AXA has taken the step to extend their health insurance plan coverage on these said medical conditions. People with pre-existing condition can complete a questionnaire and submit to AXA for review. Once accepted, there will be a loading to the premium and customers can get their hypertension and hyperlipidaemia covered.
In addition, AXA is offering Individual Take-Over. You can now switch your Individual Hospital & Surgical policies over to AXA from another insurance company. You will enjoy the same underwriting terms as their current policies, including coverage of any pre-existing conditions already covered by your existing insurer.
Besides AXA, Global Health Policy offered by Bupa International has similar benefits.
AXA has officially launched leader II – their new version of Directors & Officers (D&O) Liability Insurance policy. Their new policy wordings with increased extensions, broader coverage and more user-friendly language coupled with their increased capacity.
This policy specially caters for clients who are looking to purchase protection for their Board of Directors against potential personal liability to third parties and erosion of personal assets while performing their duties as directors.
For professional advice for D&O policy, you may contact our insurance team.
As a smart investor, you know that you need to plan ahead to achieve financial security and you’re constantly looking for investments that will help you to stretch your dollar to counter rising inflation. You want to enjoy the highs of bull markets and yet stay secure during the market downturns. It sounds like an impossible dream, but AXA Secure Ascent 2020 Fund does just that for you so that you enjoy only the highs and never the lows when the fund matures.
If you invest in Secure Ascent 2020 Fund, you will enjoy the highest Unit Price reached every day till 2020
A lifecycle fund packed with extras every investor will love:
- Pay-out maturity would be the highest daily Secure Price reached during the life of the fund
- A unique lock-in feature protects the fund’s growth every time its daily value reaches a new high
- Asset allocation adjusts automatically as buffer to market volatility
- Cash and equity components balanced so you enjoy potential highs of equities with managed risk
As one of the leading general insurers in Singapore, AXA Insurance is committed to be Available, Attentive and Reliable to their customers. The slogan of AXA is that “ we do not just promise, we GUARANTEE …”. I quite like that. It really shows the insurer’s confidence in terms of claim handling. You can check the terms and conditions from their website. The highlights are:
ALL SURVEYS* WITHIN 24 HOURS!
*if a survey is necessary
If we fail to deliver our promise…
You will be given a discount* of 20% based on existing policy premium, limited to S$500 per claim, on an aggregate of 40% or S$1,000 per policy (i.e. up to 2 claims per policy), whichever is lower.