AXA to provide HSBC’s SME cover

by Gill Montia

Story link: AXA to provide HSBC’s SME cover

AXA Insurance is joining forces with HSBC, providing insurance products to the bank’s small and medium-sized business customers.

Under a 10-year agreement, AXA will begin offering policies to new customers from January of next year and to existing customers at renewal.

The range will include property, casualty and motor products, all specially tailored to the needs of the UK’s small and medium-sized enterprises (SMEs).

AXA Commercial managing director, Anthony Middle, comments: “We are confident that our broad product portfolio, innovative solutions and value-added offerings provide a market-leading small business proposition.”

He adds: “AXA is already a leading player in this market, providing insurance to around 25% of the SME community.”

AXA and HSBC already have a number of partnerships worldwide and in the UK, AXA provides both travel and home insurance products for Marks & Spencer, part of the HSBC Money portfolio.

The insurer has recently secured another important partnership, this time with low cost airline, Ryanair.

From September 2010, AXA Travel Insurance will provide Ryanair passengers with single-trip, multi-trip and annual travel insurance policies via the Ryanair website.