Under the deal, Allianz Asia Holdings is acquiring HSBC Life (Singapore) outright from HSBC Insurance (Asia-Pacific) Holdings, with completion expected in the first half of 2027 pending sign-off from the Monetary Authority of Singapore. Alongside the sale, the two firms are locking in a 15-year exclusive bancassurance agreement, backed by an upfront S$200 million payment, under which HSBC’s branches will keep selling Allianz’s protection, health, retirement and wealth products to its Singapore customers.
