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Treasury & Capital Markets
HSBC Insurance becomes tier-1 insurer in Singapore
HSBC Insurance (Singapore) is now a Monetary Authority of Singapore (MAS) tier-1 insurer.
The Asset 10 Apr 2017

HSBC Insurance (Singapore) is now a Monetary Authority of Singapore (MAS) tier-1 insurer.

A tier-1 insurer is defined as a direct life or composite insurer whose assets are at least S$5 billion, or a direct general insurer or reinsurer whose annual gross premiums are at least S$500 million. Tier-1 insurers are subject to higher corporate governance standards.

Ian Martin, CEO HSBC Insurance (Singapore) says, “this is a significant milestone for us as a result of our focus to sustainably grow the business since we first acquired the initial insurance book in 2003.”

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