Kane, a provider of specialist risk and insurance management services, will acquire the insurance management operations of HSBC through an agreement that has been signed with HSBC Bank Bermuda Ltd., HSBC Bank Cayman Ltd. and HSBC Insurance Agency (USA) Inc.
Kane says it will acquire HSBC Insurance Holdings (Bermuda) Ltd., HSBC Insurance SPC Ltd., the insurance management business and assets of HSBC Bank (Cayman) Ltd., and HSBC Insurance Agency (USA) Inc. for a total amount of $27.5 million. The acquisition will be backed by private equity firm CBPE Capital, Kane notes.
Register or login for access to this item and much more
All Digital Insurance content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access