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Allianz to buy HSBC’s Singapore insurance unit for about $2.1 billion

HSBC expects the deal to deliver a pre-tax gain of about $1.8 billion and lift its common equity tier 1 ratio by up to 15 basis points, with closing targeted for the first half of 2027.

Reported · Written up by our desk · Industry & Deals

Allianz is set to acquire HSBC’s Singapore insurance business in a deal valued at about $2.1 billion, according to HSBC disclosures covered by CNBC World.

HSBC said it has agreed to sell its life and health insurance operations in Singapore to Germany’s Allianz for S$2.7 billion, equivalent to roughly US$2.08 billion.

The transaction is expected to close in the first half of 2027 and is projected to generate a pre-tax gain of about US$1.8 billion, SCMP Economy reported.

HSBC also said the disposal should boost its common equity tier 1 ratio by up to 15 basis points, reflecting the anticipated impact of the transaction on its capital position.

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