HSBC Singapore completes legal integration of AXA

This enables HSBC to begin its insurance operations in Singapore.

HSBC has completed the legal integration of AXA Insurance Pte Limited (AXA Singapore) and HSBC Insurance (Singapore) Pte. Limited. via a Scheme of Transfer.

This enables HSBC to begin its insurance operations as a combined business under HSBC Life (Singapore) Pte. Ltd. (HSBC Life Singapore). 

This marks the completion of the acquisition of AXA Singapore by HSBC Insurance (Asia Pacific) Holdings Limited in August 2021, the first major acquisition by HSBC in 10 years.

The Scheme of Transfer and rebranding have no impact to the terms of any of the policies in-force underwritten by either AXA Singapore or HSBC Insurance (Singapore) Pte. Limited.

HSBC Insurance (Asia Pacific) Holdings Limited, an indirect wholly-owned subsidiary of HSBC Holdings plc acquired AXA Singapore for a consideration of US$529m.