Insurance news from HSBC reveals that its Singapore business sold

Insurance Industry News Deal

The company intends to sell this business as a part of an overall cost cutting strategy. HSBC, the worldwide banking giant, has just announced its latest insurance news in its intentions to step out of the industry in Singapore, as the latest element of its strategy to reduce costs. The deal for the Singapore business of the company has been valued at approximately $19.3 million. HSBC has been working to offload many of its non-core assets, and this insurance news is only the most recent in that strategy. So far,…

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