{"id":60214,"date":"2026-07-24T02:37:08","date_gmt":"2026-07-24T02:37:08","guid":{"rendered":"https:\/\/www.europesays.com\/germany\/60214\/"},"modified":"2026-07-24T02:37:08","modified_gmt":"2026-07-24T02:37:08","slug":"hsbc-to-sell-singapore-life-insurance-unit-to-allianz-for-sg2-7-billion","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/germany\/60214\/","title":{"rendered":"HSBC to Sell Singapore Life Insurance Unit to Allianz for SG$2.7 Billion"},"content":{"rendered":"<p>    <a href=\"https:\/\/s.yimg.com\/lo\/mysterio\/api\/064E7C82B6D6D16EF3CD7BFE4FAE915BA907EF6A0510DB1AA4E5A588944F20A0\/subgraphmysterio\/resizefit_w960;quality_80;format_webp\/https:%2F%2Fmedia.zenfs.com%2Fen%2Fmt_newswires_sg_265%2F6f87a07c3c0735907624b33783488411\" target=\"_blank\" rel=\"noopener noreferrer nofollow\"><img loading=\"lazy\" decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" alt=\"MT Newswires - Shutterstock\" height=\"403\" width=\"768\" class=\"yf-lf2kr7 loader\"\/><\/a> MT Newswires -Shutterstock           <\/p>\n<p class=\"text text-block paragraph text-left neo-font-paragraph-xl-reg  yf-18d6y07\" style=\"text-decoration: none; font-style: normal; text-transform: none; text-align: inherit; font-variant-numeric: normal;\">HSBC (HKG:0005) agreed to sell its life and health insurance business in Singapore to Allianz for SG$2.7 billion, according to a filing with the Hong Kong Stock Exchange on Friday.<\/p>\n<p>The lender&#8217;s indirect subsidiary HSBC Insurance (Asia-Pacific) Holdings signed a share purchase agreement with Allianz Asia Holdings for 100% of HSBC Life (Singapore), which reported a pre-tax profit of SG$118 million in 2025.<\/p>\n<p>Completion is expected in the first half of 2027, pending approval from the Monetary Authority of Singapore.<\/p>\n<p>The deal is expected to generate a pre-tax gain of $1.8 billion and lift Common Equity Tier 1 ratio by up to 15 basis points, the filing said.<\/p>\n<p>As part of the deal, HSBC and Allianz will enter a 15-year exclusive bancassurance distribution agreement, under which HSBC will keep distributing insurance products to its retail and wealth customers in Singapore.<\/p>\n<p>HSBC will collect an initial SG$200 million lump-sum payment from Allianz in connection with the distribution agreement, plus variable consideration tied to performance.<\/p>\n<p>HSBC built its insurance presence in Singapore in 2022 when it acquired AXA Insurance for $529 million.<\/p>\n<p>The Singapore sale follows the divestment of HSBC&#8217;s U.K. insurance business in July 2025 to U.K.-based Chesnara for 260 million pounds.<\/p>\n<p>For Allianz, the deal expands its presence in Singapore, where it has operated for more than 25 years, according to Renate Wagner, Member of the Board of Management.  <\/p>\n","protected":false},"excerpt":{"rendered":"MT Newswires -Shutterstock HSBC (HKG:0005) agreed to sell its life and health insurance business in Singapore to Allianz&hellip;\n","protected":false},"author":2,"featured_media":60215,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20948],"tags":[20949,46848,25876,46849,627],"class_list":["post-60214","post","type-post","status-publish","format-standard","has-post-thumbnail","category-allianz","tag-allianz","tag-hong-kong-stock-exchange","tag-hsbc","tag-hsbc-insurance","tag-singapore"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/posts\/60214","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/comments?post=60214"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/posts\/60214\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/media\/60215"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/media?parent=60214"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/categories?post=60214"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/tags?post=60214"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}