The Bank of East Asia  has sold products many times in recent years, and the latest rumor has it selling Blue Cross Insurance. Bloomberg quoted people familiar with the matter last night as revealing that the Bank of East Asia, which is seeking to continue to raise funds by disposing of non-core assets, is considering selling its Blue Cross (Asia Pacific) Insurance Co., Ltd.

According to reports, the Bank of East Asia is cooperating with Goldman Sachs on a potential transaction. The sale may raise US$300 million to US$400 million. The formal procedure may be launched as early as early next year, which is expected to attract interest from all parties including international insurance companies. People familiar with the matter said that since the discussion is still in the preliminary stage and a final decision has not yet been made, the Bank of East Asia may still decide to retain the company for a longer period of time. Representatives of Goldman Sachs declined to comment.

A spokesperson for the Bank of East Asia said in response to this newspaper’s inquiry that the bank will evaluate its strategic options for different assets from time to time, including those that are more in line with the group’s broad strategies and priorities. But the spokesperson declined to comment on media speculation.

In recent years, East Asia has actively sold a number of assets, including the sale of East Asia Life to AIA (1299), and the sale of Tricor Group and Taiwan East Asia Securities in 2016.