The new five-year agreement builds on an 11-year relationship which began in 2010.
The agreement covers seven markets including France, Hong Kong, mainland China, Mexico, Turkey, UK and US on insurance solutions for corporates.
Marsh will act as a broker for insurance products – including property, casualty, and various other risk transfer solutions – through a referral model, sourcing solutions from third-party providers to support the insurance needs of HSBC’s commercial banking customers.
Under the agreement, HSBC commercial banking customers will have access to world-class insurance products not currently available through the HSBC portfolio.
Chris Lay, CEO, Marsh UK & Ireland, added: “Insurance is a fundamental element of risk mitigation; it protects businesses against shocks and supports robust recoveries, should an incident occur. We are delighted to extend Marsh’s collaboration with HSBC as we continue to work together to provide solutions for their customers globally.”
Eric Emore, Global Head of International and Partnerships at HSBC Life, said: “We are confident this agreement with Marsh will bring a more comprehensive suite of services and products to our customers, and offer best-in-class insurance solutions. We are excited to continue and extend our relationship.”