Allianz, Axa Among Likely Bidders For Hsbc Unit

By Denny Thomas and Kelvin Soh HONG KONG (Reuters) - European insurers Allianz <ALVG.DE> and AXA SA <AXAF.PA> are among the potential bidders for HSBC Holdings Plc's <HSBA.L> sale of its general insurance business, which could fetch more than $1 billion, sources familiar with the matter told Reuters. HSBC <0005.HK>, Europe's biggest bank, has sent out information memorandums to potential bidders for the sale of its non-life insurance business, as CEO Stuart Gulliver streamlines a mammoth business aimed at cutting costs by $3.5 billion. Read More...

 

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