HSBC Sells HSBC Life Singapore to Allianz for SGD 27 Billion, Posts USD 1.8 Billion Pre-Tax Gain

According to HSBC's announcement, HSBC will sell HSBC Life Singapore to Allianz for SGD 27 billion (HKD 163.73 billion), with completion expected in H1 2027 subject to regulatory approval. The sale is expected to generate a pre-tax gain of USD 1.8 billion for HSBC and boost its Common Equity Tier 1 capital ratio by up to 15 basis points.

HSBC and Allianz will also establish a 15-year exclusive bancassurance distribution agreement, whereby HSBC Bank Singapore will distribute HSBC Life Singapore insurance products exclusively to its Singapore retail banking and wealth management clients. Under the arrangement, HSBC will receive an upfront cash payment of SGD 200 million (HKD 1.213 billion).