HSBC capture Winterthur executive to head up insurance business
HSBC Bank has strengthened its insurance operations with the appointment of Christen Schnor as head of insurance with responsibilities for the UK, Turkey, the Middle East and Malta.
Schnor will be responsible for the life, general insurance, reinsurance, pensions, actuarial consultancy and global broking businesses.
He will also have a seat on the executive committee of HSBC Bank.
Dyfrig John, chief executive of HSBC Bank, said: “Christen’s proven expertise in building a first class international insurance capability is outstanding in the insurance industry. His deep understanding of the life and general insurance businesses will take those areas of our own operations to a new level of excellence and performance.”
Clive Bannister, group managing director, insurance, added: “Our objectives for the insurance business are clear, we will achieve them through our ability to provide state-of-the art products and solutions to our banking distribution network and to our end customers. Christen’s leadership of a very substantial and growing area of our business will give us a rare advantage in making this happen.”
Schnor joins from the Winterthur Group where was an executive board member since 2003, with responsibility for all operations outside Switzerland and Germany .
The regional span of the operations covered Europe, Asia and North America, generating approximately £4bn in premiums per annum.
Schnor oversaw a three-year business transformation of these operations, which was a significant factor in Winterthur being successfully acquired by AXA for €7.9bn in 2006, the company said.
