HDFC Life, Birla Sun Life and Bharti AXA among bidders for HSBC’s insurance stake

Life Insurance QuoteHDFC Life, Birla Sun Life Insurance, and Bharti AXA Life Insurance are among the six best bidders HSBC has chosen to sell its 26% stake in the Indian life insurance joint venture with two state-run banks, said a person familiar with the development.

“HSBC has shortlisted six,” said the executive of a life insurance company not wanting to be identified. The fourth bidder is Manulife; the remaining two bidders are unknown.

HSBC and HDFC Life declined to comment.

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