HSBC Life Singapore runs HSBC’s insurance operations in Singapore. Credit: Joshua Lawrence/Unsplash.

HSBC has announced plans to appoint Harpreet Bindra as the CEO of HSBC Life Singapore, subject to regulatory clearance.

In his new role, Bindra will oversee HSBC Life Singapore and be responsible for the company’s execution of its strategy in this competitive insurance and wealth market.

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He has more than 20 years of leadership experience in the insurance and financial services sectors.

Most recently, he served in the Hong Kong-based role of global head of strategy and business development for HSBC Global Insurance and Partnerships.

Bindra will be reporting to HSBC Global Insurance and Partnerships CEO Greg Hingston and to the head of wealth and personal banking (WPB), Singapore, Ashmita Acharya.

Hingston said: “Singapore is a strategically important market for HSBC and we are expanding propositions, channels and platforms to meet the health, protection and wealth management goals of our individual and corporate customers.

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“I am confident that under Harpreet’s leadership, HSBC Life Singapore will realise its potential with best-in-class propositions for our customers across their wealth journey.”

Acharya said: “Harpreet’s extensive insurance experience in Asia and proven leadership qualities, matched with the combined strengths of the HSBC Group and HSBC Life, will allow us to successfully execute our insurance and wealth strategy in this increasingly important international financial centre.”

HSBC Life Singapore was created following the merger of the operations of AXA Singapore and HSBC Insurance in February this year.

In April 2023, MSIG Insurance signed a 15-year bancassurance agreement with HSBC in Singapore for the distribution of general insurance.