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Insurance Tie-Up

May 10, 2007

BANKING giant HSBC said it had teamed up with Norwich Union to improve its lacklustre performance in the insurance sector.

The planned joint venture will see Norwich Union underwrite and distribute general insurance products to HSBC's 10.2m UK customers.

The move extends a 23-year underwriting relationship between the firms, as HSBC currently distributes protection, home, travel and car insurance products by Norwich Union. The aim is for HSBC Insurance to be a top 10 player in the UK insurance industry.

(c) 2007 Daily Post; Liverpool. Provided by ProQuest Information and Learning. All rights Reserved.

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