LSE:HSBABanks
HSBC Weighs Singapore Insurance Sale And Capital Reallocation In Asia
HSBC Holdings (LSE:HSBA) is moving ahead with a review of its Singapore insurance arm, HSBC Life (Singapore).
Allianz, Daiichi Life, and Sumitomo Life have been shortlisted as bidders for the business.
The review forms part of a wider effort to streamline HSBC's organisation and refine its focus in Asia.
HSBC is a global bank with a large presence in Asian wealth and insurance, and Singapore is a key hub for that franchise. A potential sale of HSBC Life (Singapore) would sit alongside wider...