HSBC wins bid to acquire insurer Axa Singapore

HSBC Insurance Holdings will acquire Axa Singapore for $575 million, the London-headquartered bank announced in a statement on Monday (Aug 16). The deal's completion is subject to regulatory approval, and will result in the merger of HSBC Life Singapore and Axa Singapore operations. A spokesperson declined to provide the expected completion date and said it would be announced accordingly after regulatory approval.  The combined business will form the seventh-largest life insurer…