Allianz to buy HSBC’s Singapore insurance unit for $2.09 billion
The logo of German multinational insurance and financial services Allianz tops its headquarters in Madrid, Spain.
Cristina Arias | Cover | Getty Images
allianz The group said in a statement on Friday. we agreed It will acquire HSBC’s Singapore life insurance unit for 2.7 billion Singapore dollars ($2.09 billion), expanding the company’s footprint in the Asian life and health insurance market.
The German insurer expects to achieve a double-digit return on investment in the medium term, and the transaction is expected to be completed in the first half of 2027. Under the agreement, Allianz will also enter into a 15-year exclusive distribution partnership with HSBC Singapore to strengthen its ties in the region.
Friday’s announcement underscores the German insurer’s push to expand in Singapore, where the market says it is supported by strong fundamentals, including steady economic growth and solid regulations.
Board member Renate Wagner said Allianz aims to “more comprehensively support more individuals and communities with a broader portfolio of products that help protect and plan for what matters most to them.”
HSBC Life Singapore achieved an operating profit of €80 million ($91 million) in 2025.
