HONG KONG: Standard & Poor's Ratings Services’s AA- ratings on HSBC Insurance (Asia) Ltd, HSBC Life (International) Ltd, HSBC Medical Insurance Ltd and its A+ rating on Hang Seng Life Ltd remain unchanged after HSBC Insurance (Asia-Pacific) Holdings Ltd's S$155mil purchase of Singapore-based Keppel Insurance Pte Ltd.
“The acquisition is a strategic move by HSBC Insurance (Asia-Pacific) to enhance both its life and non-life insurance operations in Singapore.” – AFX
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