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HSBC HOLDINGS Sells UK Life Insurance Biz to Chesnara, Foresees to Complete Deal in Early 2026
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HSBC HOLDINGS (00005.HK) announced that it had clinched a binding agreement to sell HSBC Life UK to the British insurance company Chesnara plc. Subject to regulatory approval, the transaction is foreseen to be completed in early 2026. Approximately 230 positions supporting HSBC Life UK's operations will also be transferred to Chesnara. The group stated that the disposal is part of the structural reorganization as announced last October, focusing on markets where it has a visible competitive advantage to enhance its leadership position and market share. According to Chesnara, the total consideration for the transaction is GBP260 million. AASTOCKS Financial News Website: www.aastocks.com |
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