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HSBC to buy Swiss Life out of French insurance JV
An HSBC sign is seen in this file photo. The bank said on Tuesday that it will pay 228.75 million euros to buy control of its French insurance joint venture with Swiss Life.
Credit: Reuters/File
LONDON |
LONDON (Reuters) - Banking giant HSBC (HSBA.L) (0005.HK) said on Tuesday it had agreed to pay 228.75 million euros ($303.6 million) to buy Swiss Life's (SLHN.VX) 50.01 percent stake of a French insurance joint venture.
HSBC said it was buying Swiss Life out of Erisa, a joint venture to offer life insurance products through HSBC's banking network in France, and Erisa IARD, a venture to provide property and casualty insurance.
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