HSBC partners AXA for SME cover

by Gill Montia

Story link: HSBC partners AXA for SME cover

HSBC has agreed a 10-year partnership deal with AXA Insurance.

From 1st January 2010, the insurer will provide the bank with a range of products for small and medium-sized business customers.

According to AXA, the property, casualty and motor products have all been specially tailored to the needs of the UK’s small and medium-sized enterprises (SMEs).

The group claims to be a leading player in the UK market, providing insurance to around 25% of the SME community.

AXA and HSBC already have a number of partnerships both in the UK and worldwide.

In other HSBC news, the group has reported that online traffic to its hsbc.co.uk mortgage area has doubled since the launch of a new range of home loans at the beginning of September.

The deals include a two-year discount mortgage at 1.99% for borrowers with a 40% deposit, and 2.49% for those with 25% to put down; both loans come with an arrangement fee of £1,199.

The launch also provided a three-year fix at 4.19% for a maximum loan-to-value ratio of 60% and with a £999 fee.