HSBC Life announces new appointments to its senior leadership

HSBC Life today announced new appointments to its senior leadership to further support its global ambitions:

• Winnie Ching as Global Head of Product, commencing on 6 November 2023; 
• Raj Kumar as Global Head of Customer and Marketing, commencing on 13 November 2023; 
• Alison Law as Global Head of Distribution, commencing on 22 December 2023.

These new global leadership roles will help drive the delivery of HSBC Life’s ambitious long-term growth strategy, which is key to strengthening the Group’s position as a leading international wealth manager, particularly in Asia. As the insurance arm of the HSBC Group, HSBC Life offers a range protection, health and wealth solutions to support its retail, private banking and commercial banking clients globally. Revenues from HSBC Life reached US$1,186mn in 3Q 2023, up 28% year-on-year, contributing to more than 20% of the overall Wealth and Personal Banking business globally, and new business contractual service margin (NB CSM) for the year-to-date reached US$1.3bn, up 42% on the same period last year.

Ching joins HSBC from Swiss Re, where she held a number of global and regional leadership roles over the past ten years, most recently as Chief Risk Officer for Asia and Global Head of Life and Health Risk Management. A qualified actuary, she brings over 20 years’ experience in Asia life insurance and has built a successful track record in Product Innovation, Strategy, and Risk Management.

Kumar was most recently Chief Marketing Officer of Silicon Valley Bank (SVB), UK & EMEA, now HSBC Innovation Banking. Having spent close to a decade with Aviva in the UK and Ireland, Kumar held multiple roles across Marketing, Customer, Brand, and Reputation during his tenure, leading the relaunch of Aviva’s new purpose and brand. Prior to this, he held senior Marketing leadership positions at Experian, Nokia, and Siemens AG, in the UK and Asia.

Law re-joins HBSC from Hang Seng Bank, where she was most recently Head of Private Banking and Trust Services, focused on managing the private banking business. Prior to that, she spent over 25 years with HSBC, holding leadership roles across Insurance, Strategy, Distribution, and Wealth Management. She brings extensive knowledge from her time with HSBC Life Hong Kong, Group Insurance, and Group Wealth Management, with invaluable experience in HSBC’s Asia wealth strategy. 

Based in Hong Kong, Ching, Kumar, and Law will all be reporting to Greg Hingston, CEO, HSBC Global Insurance and Partnerships.

Greg Hingston, CEO, Global Insurance and Partnerships, said: “We are delighted to welcome Winnie, Raj, and Alison to the team – joining us at a particularly exciting time. We have a clear growth ambition to fully optimise our integrated bancassurance model and develop HSBC Life-led distribution channels. We are committed to bring the best of HSBC Life, and the entire Group, to our customers as part of our ‘total wealth’ proposition, of which our Customer and Marketing, Product, and Distribution teams play a key role. Their expertise and proven track record will enable us to drive the execution of our strategy in a fast-changing and evolving landscape to meet the health and wealth needs of our customers.”