Zurich Insurance is exploring a sale of its Hong Kong and Singapore operations as it reviews its non-core businesses outside Europe, sources familiar with the matter said.
The Swiss insurer has discussed the plan with several investment banks but has yet to hire advisers, the sources said, cautioning that no deal was certain.
A spokesman for Zurich, Europe's fifth-biggest insurer which is battling falling revenue in general insurance and sluggish growth at home, declined to comment on its plans.
The Swiss insurer launched an in-depth review of its business in September after explosions at the Chinese port of Tianjin caused losses of around $275 million. It had also abandoned a 5.6 billion pound bid for Britain's RSA Insurance after a "deterioration" in its general insurance business.