Business & Economy · 24 views
HSBC to sell Singapore life insurance arm to Allianz for $2.09bn
AI Summary
HSBC Holdings has agreed to sell its Singapore life and health insurance business, HSBC Life (Singapore) (HSBC Life SG), to Germany’s Allianz for S$2.7 billion (US$2.09 billion). The transaction is expected to be completed in the first half of 2027. The sale transfers HSBC’s Singapore life and health insurance operations to Allianz, expanding the German insurer’s presence in the region.
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