Royal Bank of Canada is reviewing its domestic property and casualty insurance business, Chief Executive Officer David McKay said, citing difficulties caused by rules that ban banks from selling coverage in branches. “We’re trying to decide which direction we go,” …
AIA Group Ltd., the third-largest Asia-based insurer by market value, posted a bigger-than-expected 22 percent increase in full-year profit, led by business growth in China and Hong Kong. Net income climbed to $3.45 billion, or 28.73 cents a share, in …
ICA Bank has received permission to conduct insurance business from the Swedish Financial Supervisory Authority. ICA Försäkring AB, a newly formed subsidiary with its own management and board, will offer non-life insurance to its customers at the end of 2015. …
Thailand’s Thanachart Bank Pcl, backed by Canada’s Bank of Nova Scotia, is preparing to sell its insurance operations in a deal could fetch about $500 million, sources familiar with the matter said on Friday. The sale would likely include a …
HSBC has agreed to sell its general insurance businesses to French insurer AXA Group and Australia’s QBE Insurance Group for $914 million in cash, as Europe’s biggest bank moves ahead with its plan to divest non-core assets. The deal, the …
AXA SA and Assicurazioni Generali SpA are among bidders shortlisted for HSBC Holdings Plc’s planned sale of its general insurance business, sources familiar with the matter told Reuters. HSBC, Europe’s biggest bank, launched the sale in September in a deal …
