September has seen a flurry of activity from HSBC in the Asian insurance industry. On Thursday, the bank announced it had launched insurance operations in Taiwan, via the opening of HSBC Life International. HSBC will be selling family protection, long-term savings and retirement solutions after receiving approval from Taiwanese authorities in August, according to a press release.
On the same day, HSBC also announced that it has received preliminary approval to form a 50-50 joint venture insurance company in China with Beijing-based National Trust.
That follows the group taking a 10% stake in the Vietnam Insurance Corporation two weeks ago. In India, HSBC announced that it has set up a joint insurance company with...
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