HONG KONG, Jan 13 (Reuters) - Hong Kong's Dah Sing Financial Holdings is looking to sell its insurance business, the group said in an exchange filing, a unit a person with direct knowledge of the deal estimated to be worth around $1 billion.
Dah Sing is exploring the sale of Dah Sing Life Assurance Company Limited, as well as the life insurance business of the group's banking subsidiary, the companies said.
Dah Sing Financial holds one of the last remaining family-owned banks in Hong Kong.
The sale is aimed at realising the value of the insurance business, which is currently not captured in Dah Sing's $1.5 billion market value, the person with knowledge of the matter said, declining to be named as the details of the sale remained confidential. (Reporting By Lawrence White and Denny Thomas; Editing by Miral Fahmy)