Hsbc Clients Pick Up 74% In Insurance Broking Arm

HSBC Insurance Brokers (India) Ltd is the first bank in the country to have receive insurance broking licence from the Insurance Regulatory and Development Authority (IRDA) to operate as a composite insurance broking firm.

A number of HSBC customers and affiliates of the bank have invested 74 per cent in HSBC Insurance Brokers (India) Ltd. This follows the need for the bank to conform to the IRDA regulations