Ageas Said to Narrow Bidders for $1 Billion Hong Kong Business

Ageas, the insurer that emerged from the collapse of Fortis, has narrowed the list of bidders for its Hong Kong life insurance arm, people familiar with the matter said.

Hong Kong billionaire Richard Li’s FWD Group and Fosun International Ltd. are among the firms invited to submit final offers, the people said. The wholly-owned unit could be valued at more than $1 billion, one of the people said, asking not to be identified because the discussions are confidential.