Axa, Allianz and QBE in the frame for HSBC


Sources told Reuters that QBE, China's PICC Property & Casualty and Tokio Marine are also named as potential bidders for the $1bn (£639m) business.

In May, HSBC announced plans to sell non-core businesses, which included shrinking its network of 475 US branches to focus on the international business of US clients and the sale of several European retail banking businesses.

HSBC is selling non-life insurance operations in Hong Kong, Singapore, some Latin American countries and France.

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