Allianz Group announced it has agreed to acquire HSBC Life Singapore through its subsidiary Allianz Asia Holding, alongside a new 15-year exclusive distribution partnership with HSBC Bank Singapore. The combined consideration for both agreements totals €2.0 billion, with Allianz expecting a double-digit return on investment in the mid-term. The acquisition is expected to close in the first half of 2027, subject to regulatory approval.
HSBC Life Singapore is a Singapore-incorporated composite insurer offering life, savings, and health protection products through tied agents, independent financial advisers, brokers, and bancassurance channels, and was recognized as the top insurer for high-net-worth individuals in Singapore in the AFFLUENTIAL WealthLens Report for 2024 and 2025.
The company generated an operating profit of €80 million in 2025 and holds comprehensive equity of €1.2 billion. The distribution partnership builds on more than a decade of cooperation between Allianz and HSBC across Asia Pacific, giving Allianz access to HSBC Singapore’s established client base and expanding its reach with protection and retirement solutions supported by PIMCO and Allianz Global Investors.
KEY QUOTES:
“Singapore serves as our Asia-Pacific headquarters and is central to our global growth strategy. Singapore is a forward-thinking, globally connected and resilient market, and is a nation that cares deeply about the well-being of its people.”
Oliver Bäte, Chief Executive Officer, Allianz SE
“As the world’s leading insurance brand, our global customer base trusts Allianz to secure their future and stand by their side. With a presence in Asia for more than a century, Allianz has served our customers as a trusted partner in Singapore for more than 25 years.”
Renate Wagner, Member of the Board of Management, Allianz SE
