HSBC Holdings Plc’s $9.4 billion sale of its stake in Ping An Insurance (Group) Co. to Thai billionaire Dhanin Chearavanont was initiated by the insurer’s chairman, the official who was approached to buy the stake said. The disclosure is the first confirmation of the Chinese insurer’s role in brokering the transaction and highlights Ping An Chairman Peter Ma’s determination to find his own partner as HSBC looked to exit a decade-long investment. The logo of Ping An Insurance (Group) Co. is displayed...