Published by Global Banking & Finance Review®
Posted on February 26, 2026
2 min readLast updated: April 2, 2026
Add as preferred source on GoogleHSBC has started selling its Singapore life insurance manufacturing unit, hiring JPMorgan as adviser, sources say. Nippon Life and Dai‑ichi Life are potential bidders, with non‑binding offers due in about a month and valuation targeted above US$1 billion.
HONG KONG, Feb 26 (Reuters) - HSBC has started the sale process for its Singapore life insurance product manufacturing business with the hiring of an adviser, and is hoping for the deal to be valued at more than $1 billion, said three sources with knowledge of the matter.
The bank, which makes the bulk of its revenues and profits in Asia, has hired JPMorgan as its adviser, said two of the sources, who declined to be named as they were not authorised to speak to the media.
HSBC has started engaging with potential buyers including Japanese insurers Nippon Life and Dai-ichi Life, and non-binding bids for the business could be expected in a month, said one of the sources.
HSBC, JPMorgan, and Dai-ichi Life declined to comment on the potential sale of the Singapore insurance manufacturing business. Nippon Life did not immediately respond to a Reuters request for comment.
(Reporting by Kane Wu and Selena Li in Hong Kong, additional reporting by Jemima Denham of The Insurer in London and Anton Bridge in Tokyo; Editing by Sumeet Chatterjee and Muralikumar Anantharaman)
HSBC has kicked off the sale process for its Singapore life insurance manufacturing business. The bank aims for a valuation exceeding US$1 billion, according to people familiar with the matter.
JPMorgan has been hired as the adviser to manage the sale process, according to sources cited in the report.
Japanese insurers Nippon Life and Dai‑ichi Life are among potential bidders that HSBC has engaged, sources say.
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