HSBC says 'no decision' made in Singapore insurance review

HSBC said Singapore stays a priority market for wealth and wholesale growth.

HSBC Holdings plc has launched a strategic review of its insurance manufacturing business in Singapore, HSBC Life (Singapore) Pte Ltd.

The review will cover only HSBC Life Singapore and will consider all options for the business. “No decisions” have been made at this stage, the bank said in a news release today.

HSBC said Singapore remains a priority market and that it will continue to grow its wealth and wholesale banking businesses.

The group added that it will continue to offer insurance products to its customers in Singapore.

The review forms part of HSBC’s broader global simplification programme, as the group focuses on areas where it has a clear competitive advantage and the strongest growth potential.

Further announcements will be made if there are material developments.

Follow the link for more news on

insurance

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia