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Bharti Axa Planning to Hire 2,000 New Employees by Years End

Based on brisk business in motor insurance and the expanding health insurance industry in India, Bharti Axa seeks to hire 2,000 new employees to capitalize on growth opportunities.

Bharti Axa, which is a joint venture between Bharti Enterprises and international insurance company AXA Group, had earned INR 3.2 billion (USD 68.7 million) in the 2010 financial year, a 1000 percent increase over the INR 320 million (USD 6.87 million) earned the previous year. Much of that growth was due to expansions in Bharti Axa’s retail distribution network, bringing in more customers; and the fact that the motor insurance sector in India is growing by 20-25 percent every year.

Bharti Axa currently employs 1,300 people throughout 57 offices in India, with a further presence in 116 locations. The company has set aside INR 2.5 billion (USD 53.7 million) for further growth, aiming to hire 2,000 more people to take advantage of expanding markets. The industrial, manufacturing, motor and health insurance industries are expected to double in the next 5-6 years to about INR 700 billion (USD 15 billion).

Amarnath Ananthanarayanan, the Managing Director and CEO of Bharti Axa said that “With the health and auto sectors poised to grow rapidly in the country, there is a lot of scope for general insurance players. We are looking at expanding our retail operations in the country and hiring more people this year. By this year, we will have 3,000 people,”

Bharti Axa is also awaiting Insurance Regulatory and Development Authority (IRDA) approval for 62 new insurance products, which it will add to its lineup of 56 non-unit linked insurance plans (ULIPs) within the next few years.

Insurance Companies Mentioned:

AXA Group

AXA Group is a worldwide leader in Financial Protection. AXA’s operations are diverse geographically, with major operations in Europe, North America and the Asia/Pacific area.

Bharti Axa General Insurance

Bharti AXA General Insurance is a joint venture between Bharti Group and AXA Group. Founded in July 2007 in Bangalore, India it now has over 40 branches across India offering a variety of insurance products for retail, commercial and rural customers.

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Launch of RCM Fund in Brazil by Allianz

The UK’s Financial Services Authority (FSA) has given authorisation to Allianz for the launch of Rosenberg Capital Management (RCM) fund in Brazil on 07 October 2010. The fund will be actively managed by a UK-domiciled Brazilian Open Ended Investment Company (OEIC), something that had never been done before.

Starting from 30 September, for eight consecutive days there will be a fixed-price offer at GBP 1.00 (EUR 1.20) per share with zero initial charges applying until 29 October. The fund will be invested in its majority towards Brazil, and nearly one third of the fund may be invested in other Latin American and international companies, provided they generate a significant proportion of their sales and earnings in Brazil.

From the investment strategy viewpoint the timing of Brazilian addition to the Allianz portfolio adds diversification and promising potential returns; given all the positive factors currently enjoyed by Brazil in terms of its economy and investment perspective. In addition to a stable government, the economy in Brazil is strong and growing at a fast pace; fuelled by a large and increasingly affluent young population, massive commodity resources and a well-developed equity market facilitating accessing these opportunities to investors.

Looking forward to next year, the earnings growth estimates of Brazilian companies rank among the highest in the world at 26 percent, whilst the market currently trades on a modest price to earnings ratio of 8.6 percent, based on the earnings estimates for 2011.

Insurance Company mentioned:

Allianz

Allianz Group is one of the leading global services providers in insurance and asset management. With approximately 153,000 employees worldwide, the Allianz Group serves approximately 75 million customers in about 70 countries. On the insurance side, Allianz is the market leader in the German market and has a strong international presence.

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Ping An Health Insurance Approved to Open Zhejiang Branch

Ping An Health Insurance Company of China, a wholly owned subsidiary of Ping An Insurance (Group) Company of China, has received approval from the China Insurance Regulatory Commission (CIRC) to set up a new branch in Zhejiang province.

Earlier this year, Ping An Health Insurance was also given approval by the central Chinese insurance regulator to open a branch in Jiangsu province. With the approval of the two new branches, Ping An Health Insurance now has 5 branches in China, although the CIRC says that both of the new branches in Zhejiang and Jiangsu will require operational licenses issued by the local insurance bureaus in the respective provinces.

Ping An Health Insurance already had branches located in Beijing, Shanghai, and Guangdong, and the approval for the two new branches will allow them to expand into the coastal provinces of Zhejiang, the province directly to the south of Shanghai, and Jiangsu, directly to the north of Shanghai. This will afford China Ping An Health Insurance the opportunity to enter into the markets in the relatively affluent cities of Nanjing in Jiangsu and Hangzhou in Zhejiang.

Original premium income in Zhejiang province between January and May, 2010 was RMB 33.04 billion (USD 4.87 billion), of which accident insurance comprised RMB 727 million (USD 107.2 million), health insurance made up RMB 1.05 billion (USD 154.9 million), property insurance RMB 10.86 billion (USD 1.6 billion), and life insurance making up the lion’s share of RMB 20.4 billion (USD 3 billion).

Similarly, the insurance industry in Jiangsu Province generated RMB 57.47 billion (USD 8.48 billion) in cumulative original premium income. Accident insurance accounted for RMB 1.16 billion (USD 171 million), health insurance RMB 1.91 billion (USD 281.8 million), property insurance RMB 13.08 billion (USD 1.93 billion), and life insurance constituting RMB 41.32 billion (USD 6.1 billion).

According to the Chinese Insurance Regulatory Commission, China Ping An Health Insurance received original premium income of RMB 64.38 billion (USD 9.5 billion) between January and May, 2010.

Insurance Company mentioned:

Ping An Insurance Company

Ping An Insurance (Group) Company of China, Ltd. (Ping An) is engaged in providing a range of financial products and services. The Company focuses on three businesses: insurance, banking and investment. The Company operates in five business segments: life insurance business, property and casualty insurance business, banking business, securities business, corporate and other businesses. The Company’s subsidiaries include Ping An Life Insurance Company of China, Ltd. (Ping An Life), Ping An Property & Casualty Insurance Company of China, Ltd. (Ping An Property & Casualty), China Ping An Trust & Investment Co., Ltd. (Ping An Trust), Ping An Securities Company, Ltd. (Ping An Securities), Ping An Bank Co., Ltd. (Ping An Bank), Ping An Annuity Insurance Company of China, Ltd. (Ping An Annuity) and Ping An Health Insurance Company of China, Ltd. (Ping An Health), among others.

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New Annuity Product Launched by Manulife in Japan

Manulife Life Insurance Company (Manulife Japan) has recently launched a new variable individual annuity insurance type V product which will be sold through the Bank of Tokyo-Mitsubishi UFJ.

The name of the new product is Ashita-no-Nenkin and it is an investment-type annuity insurance product, tailored to meet the needs of customers wanting to start accumulate funds in preparation for retirement.

According to Manulife Japan the appealing characteristics of this new product include features that are easy to understand, and a death benefit guarantee that the beneficiary of the policy will receive no less than 100% of the basic benefit amount. As such, the new product being offered by Manulife is a Japan-specific variant of traditional whole-of-life insurance plans.

With this new insurance product, customers may choose to opt for either a 'step-down life annuity' or a 'fixed-term annuity' taking into consideration their plans for retirement, plus the provision of a minimum guarantee of the total amount that the customer is likely to receive.

Customers can opt to start receiving annuity payments as early one year after commencing the plan, or they may choose the length of the payment deferral period.

Manulife Japan is a subsidiary of Manulife Financial, the financial services group based in Canada. In addition to asset management services, Manulife Financial also provides reinsurance solutions specialising in life and property and casualty retro-cession, as well as financial protection and wealth management products and services.

Insurance Company mentioned:

Manulife

Manulife Life Insurance Company, Japan. Manulife Financial was one of the first foreign life insurance companies to establish operations in Japan, entering the market in 1901. Manulife re-entered Japan in 1999, laying the foundation for the establishment of Manulife Life Insurance Company (Manulife Japan). The vision of Manulife Japan is to be the most professional life insurance company in Japan, providing leading financial protection and wealth management products and services, and learning from and quickly adapting to its customers‟ changing needs.

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United MetLife – Opens New Sichuan Branch

MetLife announces the opening of its third Provincial branch in Sichuan. The unveiling of the new Sichuan branch is the first since United Metlife disclosed its plans to merge with Sino-US MetLife insurance business.

The planned merger between United MetLife and its Sino-US MetLife Insurance Company Limited is the first sign that MetLife is preparing for the two MetLife subsidiary’s to amalgamate; this follows the announcement by the China Insurance Regulatory Commission (CIRC) that foreign investors should only have one insurance operation on the mainland.

The Beijing based Sino-US MetLife insurance subsidiary planned merger with the Shanghai based United MetLife – creating Sino-US United MetLife Insurance – will ensure that MetLife follows the Chinese Authorities guidelines for foreign insurance investors in China.

In order for MetLife to meet its obligations – to become a single operating insurance provider in China – requires Capital Airport Holding to sell its 50% stake in Sino-US MetLife to Shanghai Alliance Investment which is MetLife’s JV partner in United MetLife.

Mr Marks, head of the Asia-Pacific region for MetLife said “China is a key strategic market for MetLife. By having a single partner across the country we can create a stronger brand and portfolio of offerings for the market. This will allow us to accelerate growth and in turn provide increased value to our customers.”

The opening of the new branch in the Sichuan province – together with the Chongqing branch – means MetLife continues to build the foundations in second-tier cities in western China, expanding its presence in the country; this has been a key focus for MetLife in recent years.

Sino-US MetLife Insurance Company Limited provides life, accident and health insurance to individuals in Beijing, Chongqing, Guangzhou, Shenzhen, Sheyang and Dalian. While United MetLife Insurance Company Limited offers life and accidental insurance products in Shanghai, Nanjing, Hangzhou, Ningbo and Wuxi.

The announcement of the Sichuan province branch comes at a time for MetLife when foreign investors in China, aim to strengthen their presence in this prosperous country. The growing demand for insurance products – to cover accident and health in China – is a key revenue stream for MetLife since they acquired the American Life Insurance Company.

The Asian insurance industry – especially China – has been transformed in recent years, with foreign investors competing for a percentage of this profitable market. MetLife’s activities in China was estimated to generated Yuan 3 billion (US$442 billion) in 2009 – a figure accounting for less than 1% of the Chinese insurance market.

Insurance company mentioned:

MetLife

Possessing over 140 years of insurance expertise, MetLife aims to be an innovator in the field of international Life insurance. Globally, MetLife is able to offer its clients accident and health insurance, life insurance, disability income protection, and retirement and savings products.

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Avero Insurance of Belgium Acquired by Baloise

Baloise Insurance Group of Switzerland has recently announced their acquisition of Belgian insurance company “Avéro Schadeverzekering Benelux N.V.” (Avero) in a deal valued at US$97 million (EUR 75 million). Avero is a subsidiary of the Dutch Eureko Group.

With this acquisition Baloise strengthens its market position, becoming the sixth-largest non-life insurance business in Belgium. With a share of around 5 percent Baloise is gaining a foothold in the French-speaking region of Belgium. The expected completion date for this acquisition is towards the end of 2010, once the corresponding approval by the regulatory authorities is obtained.

Baloise intends to gradually remove from the Belgian market the brand name Avero. Currently, Avero trades in the non-life insurance segment, with focus on the property and transport insurance markets. Using exclusively a network of brokers, Avero sells its products to over 100,000 private and corporate customers. It is estimated to hold a 13 percent market share in the transport sector.

With a 177-strong staff, Avero recorded a US$160 million (EUR 124 million) premium volume in 2009.

For Baloise, this acquisition represents another step towards the expansion of their international business.

Insurance Companies mentioned:

Baloise

Headquartered in Basel, Switerland, the Baloise Group is a European provider of insurance and pension solutions. In Switzerland Baloise operates as a focused financial services provider, combing insurance and banking. Further markets are Germany, Austria, Belgium, Luxembourg, Croatia and Serbia. The sales network comprises the company’s own sales organisation, brokers and further partners. Baloise operates its business in innovative pension products for private customers all over Europe and has competence centres in Luxembourg and Liechtenstein. The Baloise Group employs approximately 9,400 people.

Avero

Avéro Insurance is a member of the Eureko group, a major financial services provider, fully expanding in quantity in European markets. Avéro is active in the nonlife sector and focuses primarily on the property and transport insurance areas. It holds a market share of 13% in the transport sector. It sells its products to more than 100,000 private and corporate customers exclusively via a network of brokers. Avéro has 177 employees.

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Larsen & Toubro (L&T) is Given Go-Ahead to Enter Indian Insurance Market.

On the 19^th July 2010, the Indian based company Larsen & Toubro (L&T) received final approval from Indian insurance regulators to start commencing business through it’s subsidiary, L&T Insurance. The newly formed general insurer is supported by L&T, valued at US$9.8 billion. The Indian conglomerate – L&T – will have 100% equity in L&T Insurance.

Larsen & Toubro is one the largest private sector conglomerates in India, and the decision to enter into the insurance industry comes at a time when L&T aim to strengthen their position in the Indian financial service industry. Already established in the non-banking financial sector, with L&T Finance Ltd, the move into the general insurance sector meets L&T’s aim to diversify the company’s financial services offerings, and create a bigger corporate presence in the Indian financial market.

Mr Joydeep Roy, CEO of L&T said that “we should begin operations within the next six to ten weeks”. L&T Insurance are waiting for the necessary license from the Regulatory Authority to enable business to commence. L&T Insurance intend to offer more than 20 insurance products, including the provision of high quality health insurance coverage with which they plan to support gaps in the existing Indian healthcare sector. However, L&T do not plan to enter into the life insurance market at this time.

With health insurance as the key focus of its entry to the insurance business, the company plans to emphasize the importance of their offerings in this area. As such, the long term aim for L&T Insurance is the development of its own health insurance claim management team.

Initial plans are for L&T Insurance to open branches in the major cities of India, identified as ‘Tier-One’ locations, which include: Delhi, Mumbai, Pune, Coimbatore and Kolkata. Plans include expansion into Tier-Two and Tier-Three Indian cities at a later date. L&T Insurance will initially employ 100 staff, increasing that number to 300 by the end of 2010. L&T Finance already has a presence in 230 locations throughout India, including rural and sub-urban areas, meaning that the company is well placed to leverage their existing assets in order to capitalize in the consumer uptake of the India health insurance market.

Senior Vice President of L&T, Mr Sivaraman, said “As a part of our long term vision, we identified general insurance operation in India. …We identified general insurance business as a vital component for profitable growth.”

Larsen & Toubro (L&T) is a multinational conglomerate company, with its headquarters based in Mumbai, India. Predominately a construction and engineering firm, L&T’s venture into the non-life insurance sector comes at a time when the company’s financial subsidiaries – L&T Finance (LTF), L&T Infrastructure Finance (LTIF) and L&T Mutual Fund – are recognized as key parts of this leading non-banking financial company in India. L&T Finance Ltd has penetrated the non-banking financial sector throughout India, with a national distribution network.

L&T Insurance entered into the non-life insurance sector, which is comprised of 22 competitors, including 4 public sector companies.

Insurance Company mentioned:

L&T Insurance is a subsidiary of Indian based Larsen & Toutbro (L&T). L&T Insurance received approval from the Indian regulatory authority in July 2010 to commence trading in the insurance sector. L&T insurance will become a general insurer, with no plans to enter into the life market.

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Transamerica Reinsurance Names New Managing Director for Latin America

Transamerica Reinsurance has recently announced the appointment of Mr. Alfonso Lombao as Managing Director for Latin American Business. Among his regional duties, Mr. Lombao will coordinate sales, marketing and business development strategies, including customised product programmes and traditional reinsurance solutions. Transamerica Reinsurance is a division of Transamerica Life Insurance Company, a major worldwide supplier of life insurance with headquarters in North Carolina, USA.

Mr. Lombao brings on board his extensive expertise in life insurance business, encompassing both the direct and reinsurance sides. With four years of experience in bancassurance retail insurance, plus 14 years with Swiss Re, where Mr. Lombao played several roles, including the management of the Latin American business of the company, both from the Zurich headquarters as well as from the office of Swiss Re in Mexico City.

The academic credentials of Mr. Lombao include a master’s degree in Physics Science from the Swiss Federal Institute of Technology in Switzerland, where he graduated in 1992, and has memberships in the Swiss Association of Actuaries and the Latin American Chamber of Commerce in Switzerland.

For Transamerica Reinsurance, the Latin American markets are vital to their long-term growth objectives. Taking advantage of the experience and the understanding of the markets that Mr. Lombao possesses, Transamerica aims to be well-positioned to offer reinsurance solutions in Brazil, Chile and Mexico.

It is generally admitted in economic circles that Latin American markets emerged relatively unscathed from the global financial tsunami and as a result, there are strong growth prospects for the region. Transamerica enjoys close working relationships in Latin America and that gives them the edge to help local life insurers to develop and execute their product and marketing strategies.

Insurance Company mentioned:

Transamerica Reinsurance

Transamerica Reinsurance is a division of Transamerica Life Insurance Company, an AEGON company. It is one of the largest life reinsurers in the U.S., offering broad capabilities in risk, capital and expense managements to help companies improve the competitiveness and profitability of their life and annuity products. Transamerica Reinsurance supplies automatic and facultative reinsurance, product consulting and development and alternative underwriting solutions to more than 500 companies in North America, Asia-Pacific, Latin America and Europe.

Transamerica Reinsurance Nombra Nuevo Director General para América Latina

Transamerica Reinsurance ha anunciado recientemente el nombramiento del Sr. Alfonso Lombao como director general para Latino América de la compañía. Entre sus funciones regionales, el Sr. Lombao coordinará ventas, mercadotencia y estrategias de desarrollo empresarial, incluyendo programas de productos personalizados y soluciones tradicionales de reaseguros. Transamerica Reinsurance es una división de Transamerica Life Insurance Company, un importante proveedor mundial de seguros de vida con sede en Carolina del Norte, EE.UU.

El Sr. Lombao trae a bordo su amplia experiencia en el negocio de seguros de vida, que abarca tanto los lados directo y de reaseguro. Con cuatro años de experiencia en seguros al menudeo bancassurance, más 14 años con Swiss Re, donde el Sr. Lombao desempeñó varios papeles, incluyendo el manejo del negocio en Latinoamérica de la empresa, tanto desde la sede de Zurich, así como desde la oficina de Swiss Re en la Ciudad de México.

Las credenciales académicas del Sr. Lombao incluyen una maestría en Ciencia de la Física del Instituto Suizo Federal de Tecnología en Suiza, donde se graduó en 1992, y tiene membresías en la Asociación Suiza de Actuarios y la Cámara Latinoamericana de Comercio en Suiza.

Para Transamerica Reinsurance, los mercados de América Latina son vitales para sus objetivos de crecimiento a largo plazo. Aprovechando la experiencia y la comprensión de los mercados que el Sr. Lombao posee, Transamerica pretende tomar una buena posición para ofrecer soluciones de reaseguros en Brasil, Chile y México.

Es generalmente admitido en los círculos económicos que los mercados de América Latina surgieron relativamente ilesos del tsunami financiero mundial y como resultado, hay buenas perspectivas de crecimiento en la región. Transamerica goza de estrechas relaciones de trabajo en América Latina y eso les da la ventaja para ayudar a las aseguradoras locales a desarrollar y ejecutar sus estrategias de producto y comercialización.

Compañía de Seguros mencionada:

Transamerica Reinsurance

Transamerica Reinsurance es una división de Transamerica Life Insurance Company, una compañía AEGON. Es una de las reaseguradoras de vida más grandes en los EEUU, que ofrece amplias capacidades en el manejo de riesgos, capital y el manejo de gastos, para que las empresas mejoren su competitividad y rentabilidad de sus productos de vida y anualidades. Transamerica Reinsurance suministra reaseguros automáticos y facultativos, consultoría y desarrollo de productos y soluciones alternativas de aseguranza a más de 500 empresas en América del Norte, Asia-Pacífico, América Latina y Europa.

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Lloyd’s Insurer Navigators Appoints Representative in Rio de Janeiro, Brazil

Lloyd’s of London Syndicate 1221, which is a wholly-owned subsidiary of US-based Navigators Group Inc., has recently announced the appointment of a representative in Brazil.

Lloyd’s was initially granted re-insurer status in Brazil during April of 2009, and the company has had a representative office in the country since then.

Commenting on the appointment of the Brazilian representative of the Lloyd’s syndicate, Stephen Coward, president of Navigators Technical Risk, said: “Having a qualified local representative in Rio de Janeiro will significantly improve our prospects of developing reinsurance business in the energy industry segment in which we specialise. Brazil is an attractive market opportunity for Navigators because of its rapidly expanding economy.”

Given the recent announcements made by the Brazilian government in relation to their plans to invest in Brazilian infrastructure and energy industry over the next 10 years, the country makes for an attractive market opportunity for Navigators, especially considering that Brazil will play host to the 2014 FIFA World Cup and the Olympic Games of 2016.

With those two world-class events in the horizon, Navigators sees expanded opportunities across the market and expects to introduce other insurance-related products through its newly-created channel.

Insurance Company mentioned:

Navigators

Established in 1974, Navigators is one of the largest and most profitable ocean marine underwriters in the United States. The Navigators Group, Inc., publicly traded since 1986, is an international specialty insurance holding company. Head-quartered in New York City, the Group consists of a number of wholly owned subsidiaries including Navigators Insurance Company, the Navigators Agencies, and operations at Lloyds of London. The Group’s wholly owned subsidiary, Navigators Underwriting Agency Limited, is a Lloyd’s of London marine and D&O underwriting managing agency which manages Navigators Syndicate 1221 at Lloyd’s.

Aseguradora Lloyd’s Navigators Nombra Representante en Río de Janeiro, Brasil

Lloyd’s de Londres Syndicate 1221, que es una filial al cien por cien de Navigators Group Inc., con sede en los EEUU, ha anunciado recientemente el nombramiento de un representante en Brasil.

A Lloyd’s inicialmente se le concedió el estado reasegurador en Brasil en Abril del 2009 y la compañía ha tenido una oficina de representación en el país desde entonces.

Al comentar sobre el nombramiento del representante Brasileño de Lloyd’s Syndicate, Stephen Coward, presidente de Riesgos Técnicos de Navigators, dijo: “El tener un representante local calificado en Río de Janeiro mejorará significativamente nuestras perspectivas de desarrollo de actividades de reaseguro en el segmento de la industria energética en la que nos especializamos. Brasil es una oportunidad de mercado atractivo para Navigators debido a su rápida expansión económica. ”

Teniendo en cuenta los recientes anuncios realizados por el gobierno Brasileño en relación a sus planes de inversión en infraestructura en Brasil y la industria energética durante los próximos 10 años, el país representa una oportunidad de mercado atractivo para Navigators, especialmente si se considera que Brasil será la sede de la Copa del Mundo FIFA 2014 y los Juegos Olímpicos del 2016.

Con estos dos eventos de clase mundial en el horizonte, Navigators ve mayores oportunidades en el mercado y espera lanzar al mercado otros productos relacionados con los seguros a través de su canal de nueva creación.

Compañía de Seguros mencionada:

Navigators

Establecida en 1974, Navigators es una de las aseguradoras marítimas oceánicas más grandes y rentables en los Estados Unidos. Navigators Group, Inc., que cotiza en la bolsa de valores desde 1986, es una empresa especializada en seguros especializados internacionales. Con sede en Nueva York, el Grupo se compone de una serie de empresas subsidiarias al cien por cien incluyendo Navigators Insurance Company, las Agencias Navigators y las operaciones de Lloyds de Londres. La subsidiaria de propiedad total del Grupo, Navigators Underwriting Agency Limited, es una agencia administrativa de aseguranzas marina y de Directores y Oficiales de Lloyd’s de Londres que maneja Navigators Syndicate 1221 en Lloyd’s.

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Jason Sadler has been named as the new CEO of CIGNA International Health, Life & Accident operations.

Mr Sadler will oversee the operations from Hong Kong, as CIGNA aim to further expand the business globally. As from the 19^th of July, 2010, the former HSBC MD will take the reins of CIGNA in Hong Kong, to lead the Health, Life & Accident (HL&A) push for growth in the international market.

Insurance Companies mentioned:

CIGNA- A global health service company dedicated to helping people improve their health, well being and sense of security. CIGNA Corporation’s operating subsidiaries provide an integrated suite of medical, dental, behavioral health, pharmacy and vision care benefits, as well as group life, accident and disability insurance, to approximately 46 million people throughout the United States and around the world.

HSBC- Is one of the largest banks and financial services organizations in the world. It has a global presence that consists of 9,500 offices across 86 countries and territories in Europe, the Americas, the Asian- Pacific region, the Middle East and Africa. HSBC Insurance (Asia-Pacific) Holdings Limited is a wholly owned subsidiary of The Hong Kong and Shanghai Banking Corporation Limited, the founder member of HSBC Holdings plc, the London-based holding company of the HSBC Group. Three insurance underwriters collectively form HSBC Insurance (Asia-Pacific) Holdings Limited: HSBC Insurance (Asia) Limited, HSBC Life (International) Limited and HSBC Insurance (Singapore) Pte Limited.