HSBC Life Singapore has appointed a new leader to oversee its agency force, marking the latest step in refreshing its distribution strategy. Mr Ronald Tan, who has been in the industry for more than 25 years, is its new chief agency development officer, looking after its tied agency channel, the insurer said.
Mr. Tan will also manage the insurer’s strategic distribution partnership with Singapore Post. He will report to the CEO, Mr. Harpreet Bindra, and serve on the HSBC Life executive committee. Before joining HSBC Life, Mr. Tan was the CEO of Infinitum Financial Advisory, affiliated with Income Insurance. He has also held roles as Chief Agency Officer at Income and Head of Agency Distribution at Tokio Marine Life and AXA Life.
Mr Tan’s appointment comes three months after that of two senior executives.
In early October 2024, HSBC Life said Mr Lu Ouling had taken the role of chief product propositions officer, tasked to come up with new and innovative products.
At the same time, Mr Michael Wei was made chief partnership distribution officer, overseeing bancassurance, the high-net-worth segment, and the financial advisory channels in Singapore.
The two appointments were meant to boost HSBC Life’s product and distribution strategy to further the evolving health and wealth needs of customers in Singapore, the insurer had said.
These developments followed HSBC's completion of its acquisition of AXA Singapore in February 2022. In 2021, HSBC Insurance (Asia Pacific) Holdings agreed to acquire the entire issued share capital of AXA Insurance (AXA Singapore) for US$575 million (S$787 million). The acquisition was aimed at strengthening and expanding HSBC's wealth management presence in Asia.