HSBC (HKG:0005) is weighing a potential transfer of "billions of pounds" of assets from its UK pension scheme after receiving unsolicited interest from insurers, Bloomberg News reported, citing people familiar with the matter.
The preliminary discussions involve moving assets from the bank's 18.7 billion pounds sterling UK pension fund, which reported a surplus of 5.26 billion pounds at the end of 2025, according to the report.
The conversations remain in the early stages and were prompted by approaches from insurers rather than by a sale process initiated by HSBC, the report added.
The deliberations are reportedly private, and no formal transaction process has begun.
HSBC did not immediately respond to' request for comment.
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