HSBC Armenia - Homepage
02 December 2010
HSBC Armenia cjsc and Cascade Insurance icjsc start a strategic partnership
HSBC Bank Armenia CJSC and Cascade Insurance ICJSC are pleased to announce that the strategic partnership agreement has now been approved by the Central Bank of Armenia. HSBC Bank Armenia will now be able to sell insurance products such as property insurance, motor insurance including CASCO and compulsory motor third party liability insurance, personal accident insurance, travel insurance and medical insurance.
Cascade Insurance ICJSC is one of the leading insurance providers in Armenia. Garnik Tonoyan, Chief Executive Officer of Cascade Insurance ICJSC, said: “This partnership is the first of its kind in the financial industry of Armenia. Thanks to this type of close business relationship between the insurance and banking sector, the level and quality of financial services will see a substantial increase. We value this opportunity of providing Cascade Insurance services through HSBC Bank Armenia.”
Astrid Clifford, Chief Executive Officer, HSBC Bank Armenia, said: “From Monday customers will be able to go to branches of HSBC Armenia and have both their banking and insurance needs served at one location. We look forward to this cooperation and to providing excellent services to our customers.”
Media enquiries to: Mariam Adamyan on +374 10 51 50 88 or at:
mariamadamyan@hsbc.com
Notes to editors:
1. HSBC Bank Armenia cjsc
HSBC Bank Armenia cjsc was the first international bank to open in Armenia in 1996. The bank is a joint venture between the HSBC Group, which has 70 percent ownership, and members of overseas Armenian businesses. The bank offers a wide range of products and services to individual as well as corporate customers, including personal financial services, commercial banking and treasury and capital markets services. Thanks to the HSBC network in 87 countries and territories, the bank is uniquely positioned to provide truly international services for its customers.
HSBC Bank Armenia cjsc is one of the leading banks in the foreign exchange market. It has 8 branches and offices in Yerevan, as well as 50 ATMs located throughout the city. The Bank is constantly introducing innovative technologies and first-to-market solutions to achieve best customer service and increase the efficiency of operations. HSBC introduced its telephone and internet banking services in 2009, taking customer service to a new level. Our customers now have a choice of branch, ATM, telephone and internet banking. In 2010 the Bank will continue to invest in technology, implementing self service machines, debit cards and chip and pin cards in Armenia.
As a socially responsible organization HSBC Bank Armenia continues to invest in sustainability projects focusing on education for the underprivileged and on the environment.
2. HSBC Holdings plc
HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 8,000 offices in 87 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of US$2,418 billion at 30 June 2010, HSBC is one of the world’s largest banking and financial services organisations. HSBC is marketed worldwide as ‘the world’s local bank’.
3. Cascade Insurance ICJSC
Founded in 2004, Cascade Insurance ICJSC offers a comprehensive range of insurance services throughout Armenia. The company has been one of the leading companies in the Armenian insurance market for many years now. True to the Western work style of the company’s shareholders, Cascade Insurance always puts the customer first and strives to provide the highest level customer service. The shareholders of Cascade Insurance are Cascade Capital Holdings CJSC – 65%, and EBRD (European Bank of Reconstruction and Development) – 35%. Cascade Insurance ICJSC arranges reinsurance of the company’s risks at highly rated foreign reinsurance companies, including Lloyd’s syndicates, SCOR, Polish Re, Munich Re, AIG Europe (UK) Limited, Ace European Group, Swiss Reinsurance Company (Swiss Re), SAVA Re, Brit Insurance, and others.
Last updated on: 10/12/2010 09:30
