Axa to buy HSBC Singapore's life and medical insurance business
HSBC Insurance (Singapore) Pte, a wholly-owned subsidiary of HSBC Holdings, has agreed to sell its group term life insurance and group medical insurance portfolios in Singapore to Axa Life Insurance Singapore.
The gross asset value of the portfolios was approximately S$23.5m (approximately $19.3m) at 31 December 2012.
The Hongkong and Shanghai Banking Corporation, an indirect wholly-owned subsidiary of HSBC
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