HSBC Life opens Macau center as it sees increasing demand from GBA clients

HSBC Life yesterday opened an HSBC Life Insurance Planning Centre in Macau, marking a milestone as it aims to solidify its presence in the Greater Bay Area (GBA).

According to the insurance firm, its Macau business is experiencing “treble-digit growth and so it is the right place for us to set up this new facility.”

“Macau stands as a very important and unique city in our GBA plans to capture the rising demand for insurance protection and wealth management within the region,” said Edward Moncreiffe, HSBC Life CEO of Hong Kong and Macau.

Moncreiffe added that, in the first six months of the year, the group has issued over HKD6 billion in new premiums across Hong Kong and Macau to mainland Chinese visitors, roughly 30% of which has come from customers from the Guangdong province.

“We continue to see strong demand from across the region for our leading health and wealth solutions. […] We will thus continue to invest in our infrastructure across this region,” he added.

The new center complements the two HSBC Life Para-medical Centres in Hong Kong established in Tsim Sha Tsui and Causeway Bay to offer one-stop medical underwriting and health services to customers. LV