CNBC·3 min read·medium
Allianz to buy HSBC’s Singapore insurance unit for $2.09 billion
J
Jenny Lee
✦AI Summary
Allianz Group has agreed to acquire HSBC's Singapore life insurance unit for $2.09 billion to expand its presence in the Asian market. The deal includes a 15-year exclusive distribution partnership with HSBC Singapore.
Allianz Group said on Friday it has agreed to acquire HSBC's Singapore life insurance unit for 2.7 billion Singapore dollars ($2.09 billion), expanding the company's footprint in Asia's life and health insurance market.
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