Morgan Stanley has expanded its insurance services portfolio by offering property & casualty (P&C) insurance for HNW clients.
The aim is to lower potential risks related to property loss and general liability.
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The US-based investment bank has joined forces with insurance brokers HUB International, Marsh Private Client Services, and Willis Towers Watson to come up with the new proposition.
The bank said that these firms will enable its customers to evaluate their risk exposures and protect their assets.
Morgan Stanley is not a new player in the insurance space.
It has already been offering life insurance, long-term care insurance and disability insurance through its Wealth Management Investment Solutions Insured Solutions business.
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By GlobalDataMoreover, clients of the bank can now avail personal and commercial insurance lines including inland marine, watercrafts, umbrella/excess liability, aviation, flood and cybersecurity, general & professional liability, as well as crime.
Morgan Stanley Wealth Management Investment Solutions head of Insured Solutions Joseph Toledano said: “Our clients place a high priority on asset protection and by working with these industry-leading insurance brokers, Morgan Stanley can address their need for a comprehensive insurance strategy as part of their overall relationship.”
Morgan Stanley Wealth Management’s service suite includes brokerage and investment advisory services, financial and wealth planning, cash management, insurance, retirement and trust services.
