hsbc-takes-584-million-stake-in-hana-life

HSBC takes $58.4 million stake in Hana Life

Meanwhile, the insurer is helping BaoViet launch Vietnam's first unit-linked investments.
November 12, 2007
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 Fried, Asia-Pacific regional head of insurance in Hong Kong.

Currently the insurance division in Asia Pacific which includes Japan, Australia, India and parts of Africa, but not the Middle East contributes around 8% of the...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222