// Adds dimensions UUID, Author and Topic into GA4
Saturday, August 15, 2026
27.4 C
Singapore
type here...
Photo: Depositphotos/4kclips(for illustration purposes only)
Business
Less than 1 min.Read

HSBC reportedly considering selling Singapore insurance business worth over US$1B

Mary Alavanza
By Mary Alavanza

SINGAPORE: HSBC Holdings is reviewing options for its Singapore insurance business, including its sale, which could be worth over US$1 billion (S$1.29 billion), Bloomberg reported, citing people familiar with the matter.

HSBC and a financial adviser are reportedly working on HSBC Life’s (Singapore) review, with other insurers and investment firms already expressing early interest, the sources said.

However, no final decisions have been made, and the considerations are still preliminary, they added.

A spokesperson for HSBC declined to comment but said that Singapore remains a key international wealth and wholesale hub and is crucial for investment and growth.

HSBC Life (Singapore) provides life and critical illness coverage, savings, personal accident, and health insurance. The bank has grown its insurance presence in the city-state both organically and through acquisitions, including its 2022 purchase of AXA Insurance Pte Ltd for US$529 million (S$681 million). /TISG

Read also: Singapore ranks second-favourite investment destination for wealthy Chinese planning to boost insurance, gold and equities investments over the next 12 months

Featured image by Depositphotos

- Advertisement -
Google News Follow Google News WhatsApp Join us on WhatsApp Telegram Follow us on Telegram

Hot this week

In the Hood

‘How selfish do you want to be?’—Singapore woman shocked after man uses plastic bags to chope space in front of MRT platform doors

While the unattended bags initially made her wonder if they were suspicious, she said what happened next was even more surprising — a whole new level of “chope”.
In the Hood

‘Garbage piled up to the ceiling’: Older sister gets court order to clear sibling’s hoarded HDB unit

Five large trucks were reportedly needed to remove the accumulated belongings from the unit.

Popular Categories

Singapore NewsFeatured NewsSG EconomySingapore PoliticsLifestyleCelebrityIn the Hood
document.addEventListener("DOMContentLoaded", () => { const trigger = document.getElementById("ads-trigger"); if ('IntersectionObserver' in window && trigger) { const observer = new IntersectionObserver((entries, observer) => { entries.forEach(entry => { if (entry.isIntersecting) { lazyLoader(); // You should define lazyLoader() elsewhere or inline here observer.unobserve(entry.target); // Run once } }); }, { rootMargin: '800px', threshold: 0.1 }); observer.observe(trigger); } else { // Fallback setTimeout(lazyLoader, 3000); } });

The Independent SG

Also Visit

Social Media

© The Independent Singapore

// //
Enable Notifications OK No thanks