HSBC sells Singapore insurance arm to Allianz in £1.6bn deal

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FTSE 100 HSBC has agreed to sell its health and life insurance business to German insurance giant Allianz for $2.1bn (£1.6bn) as it refocuses its strategy on Singapore’s wealth management.

The banking giant agreed to sell its Singapore business to Allianz in a transaction that is expected to be completed in the first half of https://www.cityam.com/hsbc-sells-singapore-insurance-arm-to-allianz-in-1-6bn-deal/">[...]