As this news service has noted over the years, there's an important intersection of wealth management, banking, and insurance.

Hang Seng Bank has teamed up in a 15-year deal with insurer Chubb to provide coverage options for individuals and businesses in Hong Kong. 

The distribution agreement, starting yesterday, means that the bank can offer Chubb’s general insurance products to customers in areas such as travel, accident and household protection.

“We are seeing demand for tailor-made insurance solutions that cover a variety of lifestyle needs emerge as a major trend among individuals and families,” Rannie Lee, head of wealth and personal banking at Hang Seng, said.

“Demand for general insurance protection among commercial clients continues to grow and their needs are increasingly complex,” Donald Lam, head of Commercial Banking at Hang Seng, said. 

As this news service has noted over the years, there's an important intersection of wealth management, banking, and insurance. HNW individuals need insurance to cover possessions against theft, or manage risk of cybersecurity breaches, or physical threats to their families, for example. Life insurance is also often an important conduit for wealth management services and products.