HSBC to conduct ‘strategic review’ of HSBC Life

[SINGAPORE] HSBC said on Friday (Jan 16) that it would conduct a strategic review HSBC Life, its insurance manufacturing business in Singapore.

The review will only cover HSBC Life Singapore, and will consider all options for the insurance manufacturing business, with no decision made.

The bank said that the review is part of the group’s “ongoing simplification” globally.

“HSBC is focused on increasing leadership and market share in the areas where it has a clear competitive advantage and where it has the greatest opportunities to grow and support its clients,” said the bank in a press release.

“Singapore is a priority market for the group and HSBC continues to accelerate growth in wealth and wholesale banking,” it said. The bank added that it would make further announcements when there is additional information.