HSBC sells Singapore life business to Allianz Proactive uses images sourced from ShutterstockHSBC Holdings PLC (LSE:HSBA) has offloaded its Singapore life and health insurance business to Germany's Allianz for US$2.1 billion (£1.6 billion), as part of the bank's ongoing simplification programme. The disposal of HSBC Life Singapore is expected to generate a pre-tax gain of US$1.8 billion and add up to 15 basis points to the group's common equity tier one capital ratio. Completion is expected in the first half of 2027, subject to approval from the Monetary Authority of Singapore. HSBC Life Singapore generated profit before tax of S$118 million in 2025 but a strategic review had concluded that a sale offered the best outcome as the bank's board looks to focus the business on areas where it "has a clear competitive advantage and the greatest opportunities to grow". HSBC stressed that it remains committed to Singapore as an international wealth and wholesale banking centre, describing the country as a key market for investment and growth.