Allianz, Sun Life Are Said to Weigh Bids for HSBC Life Singapore

Allianz SE and Sun Life Financial Inc. are considering bids for HSBC Holdings Plc’s insurance unit in Singapore, according to people familiar with the matter, after the bank announced a strategic review of the business.
Japan’s Dai-ichi Life Holdings Inc. and Nippon Life Insurance Co. may also bid for HSBC Life Singapore Pte, the people said, asking not to be identified because the deliberations are private. A sale process began this month and non-binding bids could materialize as soon as the coming weeks, the people said.