Hong Kong’s FWD to buy HSBC stake in Malaysian insurance venture

A man walks past a logo of HSBC outside a branch at the financial Central district in Hong Kong, China June 2, 2015. REUTERS/Bobby Yip/File Photo

Hong Kong-based insurer FWD Group has agreed to buy HSBC Holdings Plc’s stake in a Malaysian insurance joint venture as part of a plan to expand its presence in Asia, three people familiar with the matter said.

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