HSBC takes $58.4 million stake in Hana Life

Meanwhile, the insurer is helping BaoViet launch Vietnam's first unit-linked investments.

HSBC Insurance has agreed to acquire 50% less one share of Hana Life Insurance for W53 billion $58.4 million. This is the latest in a series of ambitious moves underlining its goal of producing 20% of HSBC Group profits, which was outlined last year.

Separately, the firm is working with Vietnam Insurance BaoViet to offer the first unit-linked investments in that country, with the hope that the Ministry of Finance will approve this sometime in 2008, says David...

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