S&P affirms ratings on HSBC insurance units

By Edward Ion, Singapore

HSBC’s insurance company units have had their AA- long-term insurer financial strength and local currency counterparty credit ratings affirmed by Standard & Poor’s (S&P). The firms are Hong Kong-based HSBC Insurance (Asia), HSBC Life (International), and HSBC Medical Insurance. The outlooks on the local currency counterparty credit ratings are stable, S&P added.