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Stock Market & Financial Investment News

News Breaks
April 3, 2013
06:22 EDTHBC, AXAHYHSBC to sell group term life and group medical insurance units in Singapore
HSBC Insurance (Singapore) Pte. Limited, an indirect wholly-owned subsidiary of HSBC Holdings (HBC), has entered into an agreement to sell its group term life insurance and group medical insurance portfolios in Singapore to AXA Life Insurance Singapore Private Limited (AXAHY). The gross asset value of these portfolios was approximately S$23.5M at December 31, 2012. The transaction is subject to regulatory approval and is expected to complete within this year.
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