02:53 PM EDT, 09/20/2022 (MT Newswires) -- US insurer $Chubb Ltd(CB.US)$ is in advanced discussions with $HANG SENG BANK(00011.HK)$, a Hong Kong-based lender majority owned by $HSBC Holdings(HSBC.US)$, to form an insurance partnership after Chubb outbid other insurers, Bloomberg reported on Tuesday, citing people familiar with the matter.
The parties are working out the specifics of a potential tie-up that might be finalized within the next few weeks, Bloomberg reported, citing the sources.
Zurich, Switzerland-based Chubb did not respond immediately to Bloomberg's request for comment, while Hang Seng Bank declined to comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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