HSBC has struck a series of deals recently to bolster its offerings in Asia. These include acquiring AXA SA’s Singapore operations for about $529 million and securing approval to take full control of an onshore Chinese life-insurance business.
In India, it has agreed to buy L&T Investment Management Ltd for $425 million. It could also lift its stake in an Indian insurance affiliate to 49% from 26%, the prospective seller said in February.