Cigna Healthcare and HSBC have formed a strategic alliance to offer a private medical insurance product to HSBC customers, underwritten by Cigna.

The product range will be HSBC branded and initially sold by its branch-based employment benefit managers throughout the UK.

It would be available as a gold or silver package, to suit differing budgets and to provide appropriate levels of cover, said HSBC.

Cigna said it would administer the product from its European Service Centre in Scotland.