HSBC to sell its UK life insurance business

The British bank HSBC is selling its subsidiary HSBC Life UK to Chesnara, a UK-based life and pensions company. The transaction is valued at 260 million GBP (354.6 million USD).

The sale aligns with HSBC Group’s ongoing strategy to streamline its operations.

Pending the approval of the relevant authorities, the sale is expected to be finalized in early 2026.