HSBC: towards a sale of HSBC Assurances Vie (France)

(CercleFinance.com) - As part of the simplification announced in October, HSBC has signed a memorandum of understanding concerning the potential sale of its French life insurance business, HSBC Assurances Vie (France), to Matmut Société d'Assurance Mutuelle.


HSBC Assurances Vie (France) offers a wide range of life insurance solutions and services, with more than 20 billion euros in assets under management and a net income of 77 million euros, as well as a Solvency II ratio of 287%, in 2023.

Under the financial terms, Matmut would acquire HSBC Assurances Vie (France) for a cash consideration of 925 million euros. The transaction is expected to generate a pre-tax loss of approximately 0.1 billion euros for HSBC Continental Europe.

If, following the information and consultation processes, the parties decide to proceed with the sale, its completion would be subject to the necessary regulatory approvals and is expected to take place in the second half of 2025.

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