Allianz expands in Asia, raises PIMCO stake with €2.1bn Singapore deal

Allianz SE announced the acquisition of HSBC Life Singapore’s life and health insurance business for roughly €2.1 billion. The deal includes a 15‑year exclusive distribution partnership that secures Allianz’s access to HSBC’s customer network in the city‑state.

At the same time, the insurer increased its ownership of US asset‑manager PIMCO to at least 95 percent by buying back shares from former employees, a transaction valued at a minimum of €1.4 billion and ending a long‑standing employee‑share programme. These moves are part of Allianz’s strategy to consolidate its asset‑management operations and deepen its presence in Asian markets, while its shares trade just below a 52‑week high ahead of upcoming quarterly results.