HSBC (HBC) is looking to sell its non-life insurance business for perhaps $1B, according to a...

|About: HSBC Holdings PLC (HSBC)|By:, SA News Editor

HSBC (HBC) is looking to sell its non-life insurance business for perhaps $1B, according to a Reuters report, since it is not considered a core unit and doesn't fit with plans to streamline the bank's operations. But shares sink to two year lows, -5.5% after losing a top executive to BlackRock, bringing the rest of the Hang Seng Index (-4.2%) down with it.