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MSIG seeks to expand retail insurance business

Take-up of travel insurance has surged. Bancassurance deal with HSBC expands distribution

Genevieve Cua

Genevieve Cua

Published Tue, Aug 1, 2023 · 06:10 PM
    • MSIG Singapore chief executive Mack Eng aims to shift the composition of its business from 70 per cent commercial and 30 per cent retail, to a 50-50 mix.
    • MSIG Singapore chief executive Mack Eng aims to shift the composition of its business from 70 per cent commercial and 30 per cent retail, to a 50-50 mix. PHOTO: MSIG

    INSURANCE firm MSIG is beefing up its consumer business in Singapore, even as it seeks to expand its commercial book of business.

    A major plank in its efforts is the recently announced 15-year bancassurance partnership with HSBC, under which MSIG Singapore will distribute its commercial and personal range of insurance products to HSBC customers on an exclusive basis.

    In the travel segment, it has tied up with budget airline Scoot and Klook, an online platform for travel and leisure experiences in the Asia-Pacific.

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