HSBC to buy Axa's insurance assets in Singapore for $575m

HSBC to buy Axa's insurance assets in Singapore for $575m

A man walks past a logo of HSBC outside a branch at the financial Central district in Hong Kong, China June 2, 2015. REUTERS/Bobby Yip

HSBC said on Monday it had agreed to acquire Axa’s insurance assets in Singapore for $575 million, part of its broader strategy of scaling up its wealth management business in Asia and boosting fee income.