The Business Times·4 min read·hard
Allianz to buy HSBC's Singapore insurance unit for S$2.9 billion
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Shikhar Gupta
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German insurer Allianz has agreed to acquire HSBC's life and health insurance business in Singapore for S$2.7 billion. The deal is part of HSBC's broader strategy to simplify its global operations and focus on core wealth and wholesale banking.
This comes after German insurance giant’s S$2.2 billion bid for a controlling stake in Income fell through
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