Allianz Acquires HSBC's Singapore Insurance Unit for $2.09 Billion
Allianz has agreed to acquire HSBC's insurance business in Singapore for approximately $2.09 billion, marking a significant expansion for Allianz in the growing Asian market.
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HSBC sells Singapore insurance business to Allianz for $2.1bn
Deal is latest example of lender’s ‘ongoing simplification’ under Georges Elhedery
Read full article →Allianz to buy HSBC’s Singapore insurance unit for $2.09 billion
Allianz to acquire Singapore insurance business from HSBC
Read full article →HSBC agrees to US$2 billion deal to sell Singapore insurance branch to Allianz
HSBC has agreed to sell its Singapore life and health insurance business to Germany’s Allianz for S$2.7 billion (US$2.08 billion), with the deal expected to be completed in the first half of 2027, HSBC Group announced on Friday morning before the start of trading. The disposal is expected to generate a pre-tax gain of US$1.8 billion and boost HSBC’s common equity tier 1 ratio by up to 15 basis points, the bank said. As part of the deal, HSBC Singapore will enter a 15-year exclusive bancassura...
By Zoe SL Chan
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