HSBC signs a memorandum of understanding in mainland Europe to sell its French life insurance subsidiary

Zhitong
2024.12.21 07:44

On December 20th, HSBC Continental Europe announced that it has signed a memorandum of understanding regarding a potential sale of its French life insurance subsidiary HSBC Assurances Vie to the French insurance company Matmut. According to the financial terms of the potential transaction, Matmut will acquire HSBC Assurances Vie for a cash consideration of €925 million. It is estimated that this will result in a pre-tax loss of approximately €100 million for HSBC Continental Europe

Source: Zhitong The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.