(17 July 2006 – Australia) HSBC will start offering its business customers insurance products after inking a deal with listed insurance broking company OAMPS.HSBC head of Commercial Banking Australasia David Morton said the agreement with OAMPS gave the bank a “natural product extension” for its customer base, allowing it to “support their insurance needs as well”.
HSBC senior manager, Insurance and Investments Geoff Farr said the arrangement, which comes into effect immediately, meant the bank could provide its customers with products to protect their assets and “minimise the impact of setbacks and reduce their liabilities”.
“Ranging from straightforward protection and employee benefit solutions to bespoke brokered insurance solutions, this relationship with OAMPS will allow us to help our commercial customers meet their insurance needs in Australia and abroad,” Farr said.
OAMPS chief operating officer David Wyner said the arrangement would give HSBC Australian commercial customers access to hands on advice and services from local Assurex global brokers in a range of markets.
OAMPS is the sole Australian representative of Assurex, which is the world’s largest privately held risk management, commercial insurance and employees benefits brokerage group.