Chubb in talks for tie-up with Hang Seng Bank

Bloomberg

Chubb Ltd is in advanced talks to form an insurance partnership with Hang Seng Bank Ltd, a Hong Kong-based lender majority owned by HSBC Holdings Plc, according to people familiar with the matter.
The parties are hammering out the details of a transaction that could be agreed over the coming weeks, the people said, asking not to be identified because the matter is private. Chubb, based in Zurich, is poised to become Hang Seng Bank’s insurance partner after outbidding other insurers that had shown interest in the tie-up, the people said.
A deal would help the world’s largest publicly-traded property and casualty insurance company boost its presence in the Asian financial hub, the people said. Talks are ongoing and could still fall apart, the people said.