Allianz To Acquire HSBC Life Singapore And Enter A New Long-Term Distribution Partnership With HSBC Singapore
https://www.allianz.com/en/mediacenter/news/media-releases/financials/260724-allianz-to-acquire-hsbc-life-singapore-and-enter-a-new-long-term-distribution-partnership-with-hsbc-singapore.html
Allianz is buying HSBC's life insurance business in Singapore and making a long-term deal to sell insurance through HSBC branches. This means HSBC is focusing on banking while gaining steady income from selling insurance products to its customers.
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