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May 2012 HSBC Middle East and Zurich signed an exclusive ten-year agreement for the distribution of asset-related insurance products. This partnership has been concluded for Qatar, United Arab Emirates and Bahrain. In the long run, the whole MENA region will be targeted. The alliance will enable HSBC, bank and asset-management, to develop an insurance portfolio designed for its customers in the region. This move is in line with the bank’s strategy which consists in concluding long-term exclusive agreements with renowned partners. Similar agreements were published last month with AXA and QBE in some Asian and Latin American countries.