HSBC reviews Singapore insurance unit amid high growth focus on Hong Kong, mainland China

South China Morning PostCenter-RightEN 2 min read 100% complete by Enoch YiuJanuary 16, 2026 at 10:52 AM

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HSBC is reviewing its insurance business in Singapore, HSBC Life Singapore, and is considering all options, including a potential sale. This review is part of HSBC's global simplification strategy to reallocate resources to higher-growth markets. The move aligns with HSBC's focus on expanding its insurance business in Hong Kong and mainland China, where it sees greater opportunities. This follows HSBC's recent acquisition of the remaining stake in Hang Seng Bank and CEO Georges Elhedery's plan to redeploy $1.5 billion to high-growth areas in Asia. HSBC has recently exited retail banking in Sri Lanka and Malta, as well as other businesses in Europe.

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Key Player Opposition Context

Sri Lanka 30% Malta 30% France 30% India 40% Georges Elhedery 50% Kenny Tang Sing-hing 60% Hang Seng Bank ×270% Singapore ×370% HSBC Life Singapore 70% Mainland China ×380% Hong Kong ×580% HSBC Holdings ×790%

Keywords

insurance business 90% hsbc 80% hong kong 70% mainland china 70% resource reallocation 60% singapore 60% high-growth markets 50% market share 40% hang seng bank 40%