The financial group aims to expand its mainland investment team and diversify assets once it's approved to fully absorb its China life insurance joint venture, says CEO Bryce Johns.
BNP Paribas Cardif and Prudential were also among the insurers who shed light on their investment focus as well as hiring plans at AsianInvestor’s Insurance Investment Forum.
HSBC Insurance’s CIO said the asset class is too specialist for many firms to invest in themselves, during a panel at AsianInvestor’s Insurance Investment Summit.
The firm is also looking at allocating more to higher-yielding equity and fixed-income assets, noting how hard it is to achieve target returns these days.
David Fried, regional head of HSBC Insurance, says variable annuities must become more customer-focused if the business is to revive in Asia.
Meanwhile, the insurer is helping BaoViet launch Vietnam's first unit-linked investments.
HSBC pays $254 million for 10% of Vietnam's leading insurance firm, with an option to increase its stake to 25% over five years.
David Fried takes over the regional business as CF Choy focuses on the mainland.