HSBC sells stake in Hana HSBC Life Insurance
HSBC Insurance, an indirect wholly-owned subsidiary of banking giant HSBC Holdings, has agreed to sell its 50 per cent stake in Hana HSBC Life Insurance Company to Hana Financial Group.
HSBC Insurance, an indirect wholly-owned subsidiary of banking giant HSBC Holdings, has agreed to sell its 50 per cent stake in Hana HSBC Life Insurance Company to Hana Financial Group.
The transaction, which is expected to be completed by May 10th, is part of the company's strategy for the development of the whole group.
"HSBC remains committed to the Korean market and continues to invest in developing its Korean Global Banking and Markets business," the bank said.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Hana HSBC Life had gross assets equivalent to $2,470m at the end of December 31st 2012.
HSBC's share price edged 0.9% lower to 699.30p by 13:20 on Tuesday.
NR
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Carers retire with an average pension of just £6,750
A growing pensions gap shows carers retire with significantly less private pension income than the national average
-
8 of the best properties for sale with award-winning gardens
The best properties for sale with award-winning gardens – from a Victorian Gothic rectory in Hampshire, to a Georgian house in Kent with gardens designed by multiple Royal Chelsea Flower Show gold medallist Roger Platts