Reply of Shanghai Banking and Insurance Regulatory Bureau: approve National Trust Co., Ltd. to transfer 50% of the equity of HSBC Life Insurance Co., Ltd. to HSBC Insurance (Asia) Co., Ltd. After the transfer, HSBC Insurance (Asia) Co., Ltd. holds 100% of the equity of HSBC Life Insurance Co., Ltd. and National Trust Co., Ltd. no longer holds the equity of HSBC Life Insurance Co., Ltd.
(Financial Associated Press)