Hana HSBC Life

RNS Number : 8335D

HSBC Holdings PLC

29 March 2011

 



The following is an English language version of an announcement made locally in Korea on 28 March 2011 by Hana HSBC Life Insurance Company Limited on its website. Hana HSBC Life is jointly owned by Hana Financial Group and HSBC Insurance (Asia-Pacific) Holdings Limited.

29 March 2011

HANA HSBC LIFE GETS KRW50BN CAPITAL BOOST

Hana HSBC Life Insurance Company Limited (Hana HSBC Life) has obtained an injection of KRW50bn (US$44m) in capital from its two strategic shareholders, Hana Financial Group (50% + one share) and HSBC Insurance (Asia-Pacific) Holdings Limited (50% - one share), who have each contributed KRW25bn (US$22m) to support the ongoing business expansion of Hana HSBC Life in Korea.

Paul Menzies, Deputy Regional Head of Insurance, HSBC Insurance (Asia-Pacific) Holdings Limited, said: "Established financial services companies like HSBC and Hana Financial Group are well placed to provide family protection, long-term savings and retirement planning solutions to customers. We have seen Hana HSBC Life's business expand rapidly through combining one of Korea's largest and trusted financial services brands, Hana Financial Group, with the global insurance capabilities of the HSBC Group."

Note to editors

The HSBC Group

HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 7,500 offices in 87 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of US$2,455bn at 31 December 2010, HSBC is one of the world's largest banking and financial services organisations. HSBC is marketed worldwide as 'the world's local bank'.

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