Business · 24 July 2026

Allianz is paying £1.6bn for HSBC's insurance business in Singapore

The bank anticipates a £1.4bn pre-tax profit from the transaction when it officially completes in the first half of 2027. HSBC chief executive Georges Elhedery signed off on the sale following a strategic review that has already cut 15% of its managing director roles. The agreement gives the German buyer a fresh chance in Singapore after politicians blocked a previous £1.7bn takeover attempt.

By BriefTea Editorial · 24 July 2026 at 10:14

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