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Allianz has signed an agreement to acquire HSBC Life Singapore from HSBC Singapore through its subsidiary, Allianz Asia Holding.
The German insurance group and the Singaporean bank have also entered into an exclusive 15-year distribution partnership.
The transaction is valued at 2 billion EUR (2.3 billion USD).
Pending approval by the relevant regulatory authorities, the acquisition is expected to be completed in the first half of 2027.
