Allianz

The sale, which includes excess cash, is expected to generate a pre-tax gain of about S$330 million for the bank

This comes after German insurance giant’s S$2.2 billion bid for a controlling stake in Income fell through

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

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

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

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

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

The bank starts a review of the insurance business in January

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