A conglomerate controlled by Thailand’s richest man, Dhanin Chearavanont, has bought a minority stake in China’s Ping An Insurance for $9.38 billion from global bank HSBC, a bold move that ranks as Asia’s second-largest deal this year. Dhanin’s Charoen Pokphand …
HSBC said it was in talks to sell its $9.3 billion stake in China’s Ping An Insurance, stepping up a program by Europe’s biggest bank to shed non-core parts of its business to boost profitability. HSBC spent $1.7 billion to …
AXA SA and Assicurazioni Generali SpA are among bidders shortlisted for HSBC Holdings Plc’s planned sale of its general insurance business, sources familiar with the matter told Reuters. HSBC, Europe’s biggest bank, launched the sale in September in a deal …
Typhoon Nesat hit Hainan Island in south China on Thursday after it swept past Hong Kong, closing financial markets, schools and most businesses in one of Asia’s largest financial centers. China recalled ships and suspended flights and ferry services in …
European insurers Allianz and AXA SA are among the potential bidders for HSBC Holdings Plc’s sale of its general insurance business, which could fetch more than $1 billion, sources familiar with the matter told Reuters. HSBC , Europe’s biggest bank, …
HSBC Holdings Plc has launched the sale of its non-life insurance business, sources told Reuters on Monday, a global division worth about $1 billion and now part of the bank’s plan to strip away non-core units. HSBC, Europe’s biggest bank …
HSBC is in talks to buy up to 70 percent of South Africa’s Nedbank, in a potential $6.8 billion deal that would give Europe’s biggest lender a broader gateway to the fast-growing African continent. HSBC and Anglo-South African insurer Old …
Sun Life Financial expects premium growth at its China insurance venture to more than double this year, a senior executive said, after receiving approval to turn the company into a Chinese-owned entity. Sun Life Everbright will also likely begin making …
The International Monetary Fund upgraded its 2010 global growth forecast on Thursday, citing robust expansion in Asia and renewed U.S. private demand, but warned the euro area’s debt crisis posed a big risk to recovery. The IMF said the euro …
