Creation of a joint venture, HSBC Insurance

HSBC bank and Norwich Union, Aviva's subsidiary, have reached an agreement over the creation of a joint-venture called HSBC Insurance which is likely to boost HSBC among Great Britain's first ten insurers.
The new entity will be marketing insurance products for the bank's 10.2 million customers, and plans on achieving an annual premium volume of 600 million GBP (1 206 834 000 USD).