HSBC has agreed to sell HSBC Life (Singapore) to Allianz for US$2.1 billion
HSBC Group said it has agreed to sell HSBC Life (Singapore) Pte Ltd to Allianz for S$2.7 billion (US$2.1 billion). Upon completion, HSBC and Allianz will enter into an exclusive 15-year bancassurance distribution agreement HSBC said the sale is expected to generate pre-tax gains of US$1.8 billion Expected to be completed in the first half of 2027