Zurich says it has “no intention” of exiting the Hong Kong and Singapore markets, after reports suggested it was exploring a sale.

Reuters quoted “sources familiar with the matter” as saying a deal was being considered under a review of non-core business outside Europe.

The insurer has now moved to “clarify” the situation.

“We remain committed to our general insurance and global life businesses in Hong Kong, and our general insurance business in Singapore,” a spokesman said.

Zurich has confirmed it is reviewing its business in South Africa, although no final decision has been taken.