DBS Is Said to Shelve Plans for Asia Insurance Deal on Valuation

DBS Group Holdings Ltd. has shelved plans to form an insurance partnership in India and Taiwan after initial offers from prospective bidders didn’t match value expectations, according to people familiar with the matter.

The Singapore-based lender and its advisers have paused work on the transaction, the people said, asking not to be identified because the information is private. A bancassurance agreement for the two Asian markets, as well as certain products in Singapore, had attracted interest from other insurers and financial services firms, the people said.