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Allianz to acquire HSBC Life Singapore in 2 billion euro deal

The transaction includes a 15-year exclusive distribution agreement, with Allianz expecting a double-digit return on investment over the medium term.

Reported · Written up by our desk · Industry & Deals

Allianz has agreed to acquire HSBC Life Singapore and enter into a 15-year exclusive distribution agreement with HSBC Singapore, according to Coverager.

The combined consideration is €2.0 billion, or S$2.9 billion, with S$2.7 billion allocated to the acquisition of HSBC Life Singapore and the remainder tied to the distribution agreement.

Under the partnership, Allianz will provide protection, health, retirement, and wealth products to HSBC customers in Singapore. The deal also builds on an existing Allianz and HSBC relationship across Asia Pacific.

HSBC Life Singapore reported operating profit of €80 million in 2025 and comprehensive equity of €1.2 billion. Allianz expects the transaction to close in the first half of 2027, subject to regulatory approval, and says it expects a double-digit return on investment over the medium term.

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