HSBC Insurance (Asia-Pacific) Holdings Limited, together with The Hongkong and Shanghai Banking Corporation Limited, jointly received the 'Excellence in Bancassurances' under The Asian Banker Excellence in Retail Financial Services Awards 2007. This regional awards programmme, organised by the renowned The Asian Banker journal, is the most developed research-based programme in discovering the best retail institutions, products and processes in the region.

This year, over 140 banks and financial institutions in 22 countries across Asia competed as part of the overall Excellence in Retail Financial Services Programme. The decisive factor in HSBC Insurance's favour was its impressive efficiency in distribution and policy sales. Tapping heavily into online quotes and implementing straight-through processing for most applications, HSBC Insurance had one of the quickest turnaround times among its competitors and it routinely outsold insurance firms who had many times more sales agents and employees.

Mr David Fried, Regional Head of Insurance, Asia Pacific received the award from Mr Zheng Xin, Chairman, Shanghai Banking Association. Also present was Mr Emmanuel Daniel, President & Editor-in-Chief of The Asian Banker.