HSBC reports this morning that it has launched an improved fund administration solution for Asia-based insurance companies, after onboarding HSBC Life, its Hong Kong insurance business.

Securities Services says it is now providing accounting, valuation and other administration services to HSBC Life as part of a substantial enhancement in their fund administration capabilities. It says that over US$56 billion of assets under administration was onboarded with more scheduled across Hong Kong and Singapore.

Said Edward Turner, Global Product Head, Insurance Sector, Securities Servies at HSBC: "This partnership with HSBC Life enhanced our insurance securities services offering, providing a robust and scalable solution that meets the complex accounting and data needs of our insurance clients.

"The investment made here is part of our Asia-First strategy, and will help drive growth in this important client sector across the region.

"We have seen an increasing demand from our insurance clients to outsource back and middle office functions over the last 12 months."

"We expect this trend to continue as the pace of change rise across accounting standards and regulation with focus on new asset classes and improving operating models. With our specialist securities services, our insurance clients can improve their operating model, reduce costs and become more flexible."

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HSBC reports this morning that it has launched an improved fund administration solution for Asia-based insurance companies, after onboarding HSBC Life, its Hong Kong insurance business.

Securities Services says it is now providing accounting, valuation and other administration services to HSBC Life as part of a substantial enhancement in their fund administration capabilities. It says that over US$56 billion of assets under administration was onboarded with more scheduled across Hong Kong and Singapore.

Said Edward Turner, Global Product Head, Insurance Sector, Securities Servies at HSBC: "This partnership with HSBC Life enhanced our insurance securities services offering, providing a robust and scalable solution that meets the complex accounting and data needs of our insurance clients.

"The investment made here is part of our Asia-First strategy, and will help drive growth in this important client sector across the region.

"We have seen an increasing demand from our insurance clients to outsource back and middle office functions over the last 12 months."

"We expect this trend to continue as the pace of change rise across accounting standards and regulation with focus on new asset classes and improving operating models. With our specialist securities services, our insurance clients can improve their operating model, reduce costs and become more flexible."