HSBC is selling its Singapore life and health insurance business to Allianz for S$2.7 billion, a deal expected to close in early 2027. The transaction is anticipated to result in a pre-tax gain for HSBC and enhance its capital ratio, while Allianz will strengthen its position in the Singaporean insurance market. As part of the agreement, HSBC will distribute Allianz's insurance products in Singapore for the next fifteen years.