HSBC gets regulatory approval to sell Malaysian insurance unit stake to FWD

HSBC gets regulatory approval to sell Malaysian insurance unit stake to FWD

A logo of HSBC is displayed at the financial Central district in Hong Kong, China November 23, 2017. REUTERS/Bobby Yip

HSBC Holdings’ Asia Pacific insurance unit has received regulatory approval to divest its 49 percent stake in the Malaysian life insurance joint venture to Hong Kong-based FWD Group, owned by tycoon Richard Li.

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