AXA Insurance Pte Ltd (“AXA Singapore”) sold to HSBC Insurance for $529M
Updated: May 9, 2022
AXA Insurance has completed sale of its Singapore Operations to HSBC Insurance (Asia-Pacific) Holdings for total cash consideration of $529M. AXA Singapore ranks 8th in the Life insurance market in Singapore and 5th in the P&C market with 2% and 4% market shares respectively. The deal marks HSBC’s largest acquisition since the merger of its Oman branch in 2012.