,Hong Kong

BEA mulls selling general insurer Blue Cross—report

The Hong Kong lender is said to be seeking to raise cash by disposing of non-core assets.

The Bank of East Asia Ltd. is considering selling its general insurance business Blue Cross (Asia Pacific) Insurance Ltd., according to a report by Bloomberg.

The report said that BEA is seeking to raise cash by disposing of non-core assets and is currently working with Goldman Sachs Group Inc. for the transaction. 

A formal announcement of the sale may kick-off early next year.

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