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Chubb in Talks for Tie-Up With Hong Kong’s Hang Seng Bank

  • Parties are hammering out the details of bancassurance deal
  • Partnership would help boost Chubb’s presence in Hong Kong
Updated on

Chubb Ltd. is in advanced talks to form an insurance partnership with Hang Seng Bank Ltd., a Hong Kong-based lender majority owned by HSBC Holdings Plc, according to people familiar with the matter.

The parties are hammering out the details of a transaction that could be agreed over the coming weeks, the people said, asking not to be identified because the matter is private. Chubb, based in Zurich, is poised to become Hang Seng Bank’s insurance partner after outbidding other insurers that had shown interest in the tie-up, the people said.