Banking titan HSBC's sale of peripheral parts of its operations has continued with the sale of its general insurance businesses in Hong Kong, Singapore, Argentina and Mexico.
The businesses, jointly owned with Hang Seng Bank, have been sold to French insurance giant AXA and Australian firm QBE Insurance Group, with the former taking the general insurance portfolios from Hong Kong, Singapore and Mexico, while QBE is scooping up the rest.
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
-
Millions of over 50s fear pension investment risk – how should you position your portfolio?To de-risk or not to de-risk, that is the question. Act too late and you could face irreversible losses. Move too early and miss out on significant gains that could transform your retirement.
-
£150 off energy bills: millions more to get discount this winterThe expansion of the Warm Home Discount scheme follows a government U-turn on the Winter Fuel Payment. We explain who will get the £150 discount
