Allianz announced the acquisition of full ownership of HSBC Life Singapore. Concurrently, it signed a 15-year exclusive distribution partnership with HSBC Life Singapore to expand its footprint in Singapore’s insurance market. The total consideration for the transaction amounts to EUR 2 billion. Completion is targeted for the first half of 2027, subject to regulatory approvals.

HSBC Life Singapore has long focused on Singapore’s life and health insurance segments with a diversified sales network spanning agents, independent financial advisors, brokers and bancassurance channels. The company posted an operating profit of EUR 80 million and total equity of EUR 1.2 billion in 2025.

Supported by more than a decade of collaboration between the two parties across Asia Pacific, the accompanying 15-year exclusive distribution agreement will enable Allianz to supply insurance products covering protection, health, retirement and wealth management to HSBC Singapore’s customers. Leveraging the global asset management expertise of PIMCO and Allianz Global Investors, Allianz will expand comprehensive lifelong financial protection solutions for residents in Singapore.