The Hongkong and Shanghai Banking Corporation, or HSBC for short, is a public limited company incorporated in England and Wales; while their headquarters is in London. HSBC is listed in the following stock exchanges: London, New York, Hong Kong, Paris and Bermuda. They are so big around the world that Forbes magazine has them listedin 2008, as the world’s largest company.
The Hongkong and Shanghai Banking Corporation was founded way back in 1865, after the Opium War. Britain had established Hong Kong as a colony and locals wanted to set up a banking system to help trade between China and Europe. This is when Thomas Sutherland stepped in. He was from Scotland and wanted to establish a bank with “sound Scottish banking principals.” Sutherland succeeded in that, and they did their first public loan in 1874, in China.
They were located in Hong Kong until 1941, but were forced to move to London when it looked like the Japanese were about to invade Hong Kong. During World War II, the Japanese used their Hong Kong office building as their military government’s headquarters. After the war, the Hongkong and Shanghai Banking Corporation moved their headquarters back to Hong Kong.
Around 1974, HSBC began to form insurance companies around the world. They started by introducing the Swire Life Assurance Company, Carlingford Insurance Company, and the Carlingford Medical Insurance Limited. They aptly named these companies The Carlingford Insurance. They spent the better part of two decades excelling in business and acquiring different insurance companies. Finally, in 1996, Carlingford Insurance changed their name to HSBC Insurance.
Even today, HSBC is still based in Hong Kong and is the parent company for four different insurance underwriting companies. These include: HSBC Insurance (Asia) Limited, HSBC Life (International) Limited, HSBC Insurance (Singapore) Pte Limited and HSBC Amanah Takaful (Malaysia) Sdn Bhd (49% held). HSBC Insurance will underwrite for all different kinds of coverages. They cover all the major insurances, such as: Home, auto, life, renters, and much, much more.
The great aspect of their Term Life insurance is that you get to decide how you want it to be. They offer terms for a number of different years, you can get life insurance for the next 10, 15, 20, or 30 years. They let you select the kind of coverage you want and make sure that your family’s best interests are at heart. It’s not easy thinking about your own demise and HSBC Insurance goes out of their way to keep it simple and easy. They make sure that no agents will come visit you, you can apply for life insurance in the privacy of your own home, all they want are a few simple health questions and they require no doctor exams. They even allow you to get up to $500,000 in life insurance! They want to make sure that if anything happens to you, your family will be protected.
