HSBC Absorbs China Insurance Partnership After Law Change

Law360, London (May 4, 2020, 12:36 PM BST) -- HSBC Holdings PLC said on Monday it will buy out the remaining 50% equity in a life insurance joint venture in China, after the country relaxed laws over foreign ownership.

The London-based banking giant said it will now take total ownership of HSBC Life China, buying for an undisclosed amount the share in the business previously owned by China's National Trust Ltd. HSBC took advantage of a law that came into force at the start of the year

China is the third biggest market for life insurance behind Japan and the U.S., with annual premiums of $313 billion, according to data...

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