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HSBC Approaches Japan Insurers on Sale of Non-Life Unit: Sources

HSBC Holdings has approached the top three property-and-casualty insurers in Japan about the sale of its non-life insurance business, which could fetch more than $1 billion, sources close to the matter said on Thursday.

By Reuters | Updated on October 06, 2011

TOKYO, Oct 6 (Reuters)—HSBC Holdings has approached the top three property-and-casualty insurers in Japan about the sale of its non-life insurance business, which could fetch more than $1 billion, sources close to the matter said on Thursday.

Japanese insurers have been aggressively pursuing acquisition opportunities overseas as they look to expand beyond their shrinking home market and diversify the risks in their insurance portfolios.

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