Insurance news from HSBC includes intention to sell Ping An stake

China Insurance industry news

A share of approximately $9.3 billion of the Chinese insurer will be sold. The latest insurance news from HSBC is that it is currently in negotiations to sell its stake of the Chinese insurer, Ping An, which is worth approximately $9.3 billion. The intention is to boost the profitability of this largest bank in Europe. It will be accomplished as a part of a larger effort to slough away some of its non-core operations. The sale of the Ping An stake is not unexpected insurance news. It was relatively anticipated…

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