{"id":83989,"date":"2026-09-03T10:44:26","date_gmt":"2026-09-03T10:44:26","guid":{"rendered":"https:\/\/www.europesays.com\/germany\/83989\/"},"modified":"2026-09-03T10:44:26","modified_gmt":"2026-09-03T10:44:26","slug":"hsbc-is-said-to-shortlist-allianz-sumitomo-for-singapore-insurer-bloomberg-2","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/germany\/83989\/","title":{"rendered":"HSBC is said to shortlist Allianz, Sumitomo for Singapore insurer \u2014 Bloomberg"},"content":{"rendered":"

\"\"<\/a> <\/p>\n

HSBC Holdings plc has narrowed a bidding list for its Singapore insurance unit to Allianz SE, Daiichi Life Group Inc and Sumitomo Life Insurance Co, according to people familiar with the matter. <\/p>\n

(April 22): HSBC Holdings plc has narrowed a bidding list for its Singapore insurance unit to Allianz SE, Daiichi Life Group Inc and Sumitomo Life Insurance Co, according to people familiar with the matter. <\/p>\n

The shortlisted firms are working with advisers to prepare binding bids for HSBC Life Singapore Pte Ltd in the coming weeks, the people said, asking not to be identified because the process is private. HSBC may seek a valuation of as much as US$2 billion ($2.55 billion) for the business, they said. <\/p>\n

Talks are ongoing and no final decision has been made, the people said. Sumitomo Life’s approach is coming through its Singlife business, they added. Other insurers including Sun Life Financial Inc and Nippon Life Insurance Co were said to be in the frame for the unit, people familiar with the information said previously.\u00a0 <\/p>\n

A representative for HSBC said the Singapore insurance unit is still undergoing a strategic review and that the bank is committed to Singapore as an international wealth and wholesale banking hub. Singapore is also crucial to the bank’s strategy and a key focus for investment and growth, the spokesperson added. The insurers declined to comment. <\/p>\n

HSBC started a review of the insurance business in January, also saying at the time that Singapore was a priority market.\u00a0 <\/p>\n

HSBC completed a US$529 million acquisition of AXA Singapore four years ago, under previous chief executive officer Noel Quinn. His successor, Georges Elhedery, has cut management layers, jobs and businesses. HSBC’s share price has doubled in Hong Kong since Elhedery took over in September 2024. <\/p>\n

Allianz has been seeking to expand in Singapore, but in 2024 withdrew an offer to buy a majority stake in Income Insurance Ltd for about $2.2 billion. Daiichi Life has been considering moves in Singapore and other parts of Southeast Asia, while Sumitomo Life bought Singapore Life Holdings Pte Ltd \u2014 or Singlife \u2014 from shareholders including private equity firm TPG Inc in 2024. <\/p>\n

Uploaded by Chng Shear Lane <\/p>\n

See Also: <\/p>\n","protected":false},"excerpt":{"rendered":"HSBC Holdings plc has narrowed a bidding list for its Singapore insurance unit to Allianz SE, Daiichi Life…\n","protected":false},"author":2,"featured_media":83990,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20948],"tags":[20949,21853,60806,25876,36324,60803,627,60804,60805],"class_list":["post-83989","post","type-post","status-publish","format-standard","has-post-thumbnail","category-allianz","tag-allianz","tag-allianz-se","tag-daiichi-life-group-inc","tag-hsbc","tag-hsbc-holdings-plc","tag-hsbc-life-singapore-pte-ltd","tag-singapore","tag-singapore-life-holdings-pte-ltd","tag-sumitomo-life-insurance-co"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/posts\/83989","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=83989"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/posts\/83989\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/media\/83990"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/media?parent=83989"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/categories?post=83989"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/tags?post=83989"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}