Singapore, 24 July 2026 – HSBC has agreed to sell its Singapore life and health insurance business to Germany’s Allianz in a transaction valuing the operation at S$2.7 billion, equivalent to approximately US$2.09 billion, as the banking group continues simplifying its global portfolio and reallocating capital towards businesses offering stronger returns.
The transaction represents a significant expansion opportunity for Allianz in Singapore, one of Asia’s wealthiest and most tightly regulated insurance markets. The acquisition would provide the German insurer with greater scale in life and health coverage while strengthening its access to customers through established distribution and bancassurance channels.
Unlock the Full Article
This article is exclusive to The Ledger Asia Subsribers / PAID members.
Already have an account? Log in here
