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    HSBC sells Singapore life arm for £1.6 billion

    1 day ago

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    HSBC has agreed to sell its Singapore life and insurance business to Allianz for 2.7 billion Singapore dollars (£1.6 billion). The deal includes a 15-year distribution agreement allowing HSBC to continue selling insurance products in Singapore. This sale is part of HSBC's ongoing restructuring under CEO Georges Elhedery, aiming to strengthen its balance sheet and focus on growth in key markets.
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