No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - HSBC announced plans on Friday for a strategic review of its insurance manufacturing business in Singapore.
The review will only cover HSBC Life Singapore and will consider all options for the insurance manufacturing business, with no decision made, the bank said.
"Singapore is a priority market for the group and HSBC continues to accelerate growth in wealth and wholesale banking," it said in a statement. "HSBC will continue to offer market-leading insurance products to its customers in Singapore."
The bank said the review is part of its ongoing simplification globally.
"HSBC is focused on increasing leadership and market share in the areas where it has a clear competitive advantage and where it has the greatest opportunities to grow and support its clients," it said.
Further announcements will be made if or when there is additional information.
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.