The logo of the German multinational insurance and financial services company Allianz on the roof of its headquarters in Madrid, Spain.
Christina Arias | Cover | Getty Images
allianz The group said on Friday it had agreed to acquire HSBC’s Singapore life insurance arm for S$2.7 billion ($2.09 billion), expanding its footprint in the Asian life and health insurance market.
The German insurer expects to generate a double-digit return on investment over the medium term, and the transaction is expected to close in the first half of 2027. As part of the deal, Allianz will also enter into an exclusive 15-year distribution partnership with HSBC Singapore to strengthen its relationship in the region.
Friday’s announcement confirms the German insurer’s push to expand in Singapore, which it said is supported by strong fundamentals such as steady economic growth and strong regulation.
Allianz aims to “support more individuals and communities more comprehensively with a broader product portfolio that helps them protect and plan for what matters most to them,” said board member Renate Wagner.
In 2025, HSBC Life Singapore generated an operating profit of €80 million ($91 million).
