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Captive Resource Center
Businesses and Associations
Research & Information
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HSBC Insurance Management
Company
Information |
HSBC Insurance Management (HIM) was formed in 1997 to bring together
all the captive management activities within the HSBC Group.
HIM has a global representation, with offices
and associates in:
- Barbados
- Bermuda
- British Virgin Islands
- Cayman Islands
- Commonwealth of Bahamas
- Cyprus
- Gibraltar
- Guernsey
- Hawaii
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- Hong Kong
- Ireland
- Isle of Man
- London
- Luxembourg
- New York
- Singapore
- Switzerland
- Vermont
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HSBC Financial Services (Cayman) Limited was formed
in 1984 and represents HIM in the Cayman Islands. Formerly known
as Midland Bank Trust Corporation (Cayman) Limited, the name was
changed during 1999 as part of a corporate branding mission. We
are a leading manager of captive insurance companies in the Cayman
Islands, with over 95 captives currently under management. We
are licensed under the respective laws of the Cayman Islands as
a Bank and Trust Company, Insurance Manager and Mutual Fund Administrator
which enables us to offer an array of services to our clients.
HSBC Insurance Services (Bermuda) Limited is licensed
in Bermuda as both an insurance broker and a captive insurance
manager representing HIM in Bermuda. Established in 1987, the
company is a subsidiary of HSBC Insurance Brokers Limited, which
ranks among the top 15 insurance brokers in the world. We provide
independent access to the Bermuda insurance and reinsurance markets
for both traditional insurance and alternative risk transfer programs.
HSBC Insurance Management (Guernsey) Limited was
formed in 1997 with the primary objective of managing the Group's
captive. Its services have now been extended to the management
of the Group's clients. It also works closely with the representative
office in London in respect of the development of new business
in Europe and Asia. |
Ratings/
Financial
Summary |
Headquartered in London, the HSBC Group is one of the largest
banking and financial services organizations in the world. The
Group's international network comprises more than 130,000 employees
in over 5,000 offices in 82 countries and territories in the Americas,
Asia-Pacific region, Europe, the Middle East and Africa.
With listings on the London, Hong Kong and New
York stock exchanges, shares in HSBC Holdings plc are held by
more than 175,000 shareholders in some 100 countries and territories.
The shares are traded on the New York Stock Exchange in the form
of American Depositary Receipts. At year end December 31, 1999
the Group's assets were $569 billion and the pre-tax profit was
$7.982 billion.
The insurance operations within the Group transacted
premiums in 1999 of $5.3 billion and generated profits of $488
million for the year ending December 31, 1999. HSBC's insurance
operations are backed by sound financial strength with total shareholders'
funds of $1.02 billion as of December 31, 1999.
HSBC now offers insurance in 32 countries and
territories with over 3.6 million in force policies held by HSBC
customers. There is in excess of 10,000 HSBC staff engaged in
insurance activities worldwide. |
Alternative
Insurance
Products and
Services |
HSBC
Insurance Management has a global representation, with offices
and associates in:
- Barbados
- Bermuda
- British Virgin Islands
- Cayman Islands
- Commonwealth of Bahamas
- Cyprus
- Gibraltar
- Guernsey
- Hawaii
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- Hong Kong
- Ireland
- Isle of Man
- London
- Luxembourg
- New York
- Singapore
- Switzerland
- Vermont
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with management of over 200 captives.
We provide feasibility studies and advisory services
including drafting of business plans, registering and incorporation,
general representation, registered office, secretarial, accounting,
underwriting support, assistance with service provider selection,
statistical analysis and liaison with regulators.
HSBC Insurance SPC, a member of the HSBC Group,
is a "rent-a-captive" facility licensed and domiciled in the Cayman
Islands under the Segregated Portfolio Company legislation. Branches
of this company have also been established in Bermuda and Guernsey.
This allows companies who lack sufficient insurance premium volume,
or who are averse to establishing their own insurance subsidiary,
access to many of the benefits associated with an offshore captive.
Full investment, asset arrangement and banking
services including issuance of letters of credit are available
through other members of the HSBC Group. We can also help smaller
corporations which may not have the resources to undertake such
a venture, by offering alternatives such as group captives or
"rent-a-captives". |
Company
Contacts |
| North
American Contacts
(including Bermuda and Caribbean):
Harry W Rodgers
Vice President and Director of New Business Development
HSBC Insurance Management (USA)
452 Fifth Avenue
New York, NY 10018
Phone 212-525-2553
Fax 212-525-2570
Mobile 410-206-9300
Email harry.w.rodgers@us.hsbc.com
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Europe
and Asia-Pacific contact:
Chris Charman
Senior Exec. Business Development
HSBC Insurance Management
8 Canada Square,Canary Wharf, London, E14 5HQ, United Kingdom
Phone 44 207 9910270
Fax 44 207 9914640
Mobile 44 07920 543801
Email chris.charman@hsbc.com |
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