HKSC Puts up Insurance Unit for Sale

One of the largest bank in the world HSBC, has put up their Vietnam Insurance Unit for Sale.   This is expected to fetch the bank US$400 million which is a large sum of money for anyone but peanuts for this Europe largest bank. 

The sale was because the bank was trying to exit from non core businesses.   Baoviet Holdings, the Vietnam Insurance Unit was 18% owned by HSBC with a market value of US$250 million.   But the analysts expect a far higher premium given the market position and advantages of this unit.