Dah Sing Financial weighs sale of insurance business, estimated to be worth $1 bln

Dah Sing Financial Holdings

13/01/2016 01:42

HONG KONG, Jan 13 (Reuters) - Hong Kong's Dah Sing Financial 
Holdings  0440.HK  is looking to sell its insurance business, 
the group said in an exchange filing, a unit a person with 
direct knowledge of the deal estimated to be worth around $1 
billion. 
    Dah Sing is exploring the sale of Dah Sing Life Assurance 
Company Limited, as well as the life insurance business of the 
group's banking subsidiary, the companies said. 
    Dah Sing Financial holds one of the last remaining 
family-owned banks in Hong Kong. 
    The sale is aimed at realising the value of the insurance 
business, which is currently not captured in Dah Sing's $1.5 
billion market value, the person with knowledge of the matter 
said, declining to be named as the details of the sale remained 
confidential. 
 
 (Reporting By Lawrence White and Denny Thomas; Editing by Miral 
Fahmy) 
 ((lawrence.white@thomsonreuters.com; +852 2847 2094; Reuters 
Messaging: lawrence.white.thomsonreuters@reuters.net)) 
 
Keywords: DAH SING INSURANCE/SALE