UK’s Hiscox to sell Singapore and Thailand insurance business

(Reuters) – British insurer Hiscox said on Wednesday it has agreed to sell DirectAsia, its motor insurance business in Singapore and Thailand, to Ignite Thailand Holdings following a strategic review.

The company expects the deal to be completed by the end of 2023.

(Reporting by Yadarisa Shabong in Bengaluru; Editing by Sherry Jacob-Phillips)