HSBC and Marsh sign five-year insurance agreement

Insurance broker and risk advisor Marsh has signed a five-year broker agreement with HSBC, building on an 11-year relationship that began in 2010

HSBC has signed a new broker agreement with Marsh, a leading insurance broker and risk advisor. 

The new five-year agreement builds on an 11-year relationship that began in 2010. The agreement covers seven markets including France, Hong Kong, mainland China, Mexico, Turkey, UK and US on insurance solutions for corporates.

Chris Lay, CEO, Marsh UK & Ireland, added: “Insurance is a fundamental element of risk mitigation; it protects businesses against shocks and supports robust recoveries, should an incident occur. We are delighted to extend Marsh’s collaboration with HSBC as we continue to work together to provide solutions for their customers globally.”

Offering better insurance solutions  

Marsh will act as a broker for insurance products – including property, casualty, and various other risk transfer solutions – through a referral model, sourcing solutions from third-party providers to support the insurance needs of HSBC’s commercial banking customers. Under the agreement, HSBC commercial banking customers will have access to world-class insurance products not currently available through the HSBC portfolio.

Eric Emore, Global Head of International and Partnerships at HSBC Life, said: “We are confident this agreement with Marsh will bring a more comprehensive suite of services and products to our customers, and offer best-in-class insurance solutions. We are excited to continue and extend our relationship.”

Managing cyber incidents 

With over 45,000 colleagues operating in 130 countries, Marsh serves commercial and individual clients with data-driven risk solutions and advisory services. Marsh is a business of Marsh McLennan, the world’s leading professional services firm in the areas of risk, strategy and people. With annual revenue of nearly US$20bn, Marsh McLennan helps clients navigate an increasingly dynamic and complex environment through four market-leading businesses: Marsh, Guy Carpenter, Mercer and Oliver Wyman.

Marsh recently announced the appointment of Helen Nuttall as UK Head of Cyber Incident Management, Marsh Specialty, and Patrick Cannon as UK Head of Cyber Claims. 

In this newly created role, Ms. Nuttall is responsible for helping UK clients prepare for, respond to, and recover from a cyber incident. This includes proactively tailoring cyber incident response strategies, managing the complexities of cyber incidents should they occur, and assisting with the preparation of post-event insurance claims. She will also work closely with cyber incident management colleagues globally to enhance clients’ cyber preparedness and resilience.

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