HSBC Life appoints Ronald Tan as new agency chief

SINGAPORE – Insurer HSBC Life Singapore has appointed a new chief to head its agency force, the latest move to freshen up its distribution strategy in recent months.

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 on Jan 6.

He will also oversee the insurer’s strategic distribution partnership with Singapore Post.

Mr Tan will report to the insurer’s chief executive, Mr Harpreet Bindra, and will be on the HSBC Life executive committee.

Before joining HSBC Life, Mr Tan was chief executive at Infinitum Financial Advisory, which is linked to Income Insurance.

He was also 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 in order to further the evolving health and wealth needs of customers in Singapore, the insurer had said.

The developments came after HSBC completed its acquisition of AXA Singapore in February 2022.

HSBC Insurance (Asia Pacific) Holdings had entered into an agreement in 2021 to acquire 100 per cent of the issued share capital of AXA Insurance, or AXA Singapore, for US$575 million (S$787 million).

The acquisition was meant to boost and expand HSBC’s wealth management footprint in Asia.