(CercleFinance.com) – HSBC announces that its subsidiary HSBC Insurance (Asia) Limited has received approval from the China Banking and Insurance Regulatory Commission to acquire the remaining 50% stake in HSBC Life Insurance Company Limited (HSBC Life China ), which would allow HSBC to increase its stake in this company to 100%.
‘Full ownership of HSBC Life China would bring us closer to our strategic priority: to become a leading wealth manager in Asia by 2025,’ explains David Liao, HSBC Asia-Pacific co-managing director at HSBC.
Based in Shanghai, HSBC Life China has operations in ten major cities across the continent and offers a comprehensive range of insurance solutions covering life, health, financial, and wealth planning products.
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