HSBC weighs future of Singapore life insurance business as analysts assess impact on wealth strategy
The bank says this comes under the group’s global ‘ongoing simplification’ drive
Add BT as a preferred source
[SINGAPORE] HSBC said on Friday (Jan 16) that it would conduct a strategic review of HSBC Life, its insurance manufacturing business in Singapore.
The review will cover only HSBC Life Singapore, and consider all options for the insurance manufacturing business. No decision has been made yet, said the bank.
Its announcement came shortly after Bloomberg reported that the Hong Kong-based bank was exploring options for its insurance unit in Singapore, including a sale which could be valued at more than US$1 billion. The brand offers products for life and critical illnesses, savings, personal accident and health.
TRENDING NOW
CSE Global independent director quits after clashes with chairman Eugene Lai over board refresh
What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future
‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse
Rare brutalist Singapore house opens to the public before changing hands
