Allianz Buys HSBC Singapore Insurance Unit for $2.1 Billion
Allianz agreed to buy HSBC’s Singapore life insurance business for $2.1 billion, adding a 15-year exclusive distribution partnership with the bank to the transaction.
The German insurer is expanding its presence in Asian life and health insurance and projects a double-digit return on investment. The deal is scheduled to close in the first half of 2027, following a previously halted attempt.
From the sources (7 posts)
@reutersasiaHSBC sells Singapore insurance unit to Germany's Allianz in $2.09 billion deal
@cnbcAllianz to buy HSBC’s Singapore insurance unit for $2.09 billion
@wsjmarketsHSBC to Sell Singapore Insurance Business to Allianz for $2.1 Billion
@businessAllianz agreed to buy HSBC’s Singapore insurance unit for $2.1 billion as the German insurer expands its presence in the Asian financial hub after a previously aborted attempt
@firstsquawkHSBC agrees to US$2 billion deal to sell Singapore insurance branch to Allianz - SCMP
@reutersasiaHSBC sells Singapore insurance unit to Germany's Allianz in $2.09 billion deal
@cnbcAllianz Group said on Friday it has agreed to acquire HSBC’s Singapore life insurance unit for 2.7 billion Singapore dollars ($2.09 billion), expanding the company’s footprint in Asia’s life and health insurance market. The German insurer