HONG KONG: HSBC Holdings Plc agreed to buy the remaining 50% stake in its Chinese life insurance venture as the Communist Party-ruled nation opens its financial markets, a sign Chief Executive Noel Quinn is pushing forward with a business overhaul even as he manages the fallout of the virus outbreak.
The lender will take full ownership of HSBC Life Insurance Company Ltd. after buying out its partner, The National Trust Ltd., according to an emailed statement.
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