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Allianz

Allianz has received claims due to the Iran war, some of which could include total losses of vessels, according to its annual safety and shipping review.

Transport & Logistics

Ship insurers set for major claims from Iran War, Allianz says

Vessels and cargo with a US$125 billion combined value were trapped in the Persian Gulf as of Jun 15, insurer estimates

Pimco's strategy coincides with a rise in regulations across major economies requiring landlords to limit the environmental footprint of their buildings.

Pimco targets out-of-date assets in new real estate strategy

The firm will buy and retrofit older buildings into greener, more appealing properties

Consolidation trends are likely to persist in Singapore as insurers seek greater scale, says Fitch Ratings' Asia-Pacific insurance team.

Allianz’s reported HSBC Life bid reflects race for scale in Singapore’s competitive life insurance sector

HSBC has reportedly shortlisted Allianz, Sumitomo Life Insurance and Dai-ichi Life Holdings as bidders for the Singapore insurance unit

In January, HSBC started a review of the business, also saying that Singapore was a priority market.

Companies & Markets

Allianz said to lead bidding for HSBC’s Singapore insurance unit

The transaction, estimated to be up to US$2 billion, could be announced soon: sources

UOB has been exploring options for its asset management arm, including a possible sale, to streamline its portfolio.

Banking & Finance

AllianzGI in exclusive talks to buy UOB Asset Management: sources

The details are being finalised on a transaction that could be valued at up to S$600 million

HSBC’s share price has doubled in Hong Kong since Georges Elhedery took over in September 2024.

Banking & Finance

HSBC is said to shortlist Allianz, Sumitomo for Singapore insurer

The bank starts a review of the insurance business in January

A transaction might value HSBC Life Singapore at more than US$1 billion, sources familiar with the situation have said.

Banking & Finance

Allianz, Sun Life are said to weigh bids for HSBC Life Singapore

Considerations are ongoing, and the companies might decide not to proceed, while other bidders could also emerge: sources

The company is actively examining how technological change will affect all employees, which could “also impact roles that are currently heavily reliant on manual processes”.

Banking & Finance

Allianz to cut up to 1,800 jobs due to AI advances

The jobs are set to be eliminated over the next 12 to 18 months

Income's total assets grew 2.5 per cent on the year to S$43.4 billion for the financial year ended Dec 31, 2024. Its net asset value per share for the period was S$31.97.

Companies & Markets

Income Insurance to explore other share liquidity options after scuppered Allianz deal: departing chairman Ronald Ong

The board has proposed that lead independent director Joy Tan to take over as chairman, subject to her re-election and regulatory approvals

Allianz withdrew its pre-conditional voluntary general offer on Dec 16, 2024, after Parliament passed the Insurance (Amendment) Bill under a Certificate of Urgency on Oct 16, 2024.

Companies & Markets

MAS turns down ex-NTUC Income CEO’s request to meet chairman Gan Kim Yong over Allianz matter

It says the proposal by the German insurer to buy a controlling stake in Income has already been debated in Parliament

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