---
title: "Allianz and Yongming Financial are reportedly considering acquiring HSBC's insurance business in Singapore | Lianhe Zaobao"
type: "News"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/278813804.md"
description: "Allianz Group and Yongming Financial Group are considering bidding for HSBC HOLDINGS' insurance business in Singapore, which HSBC has conducted a strategic review of. Reports indicate that Japan's Dai-ichi Life Insurance and Japan Post Insurance may also participate in the bidding. The sales process has begun, and non-binding offers are expected to emerge in the coming weeks. All parties are still considering, and other bidders may appear. Representatives from Allianz and the Japanese insurance companies have not commented on the matter, while Yongming Financial stated that it is looking for opportunities to enhance scale and capabilities"
datetime: "2026-03-12T03:27:17.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/278813804.md)
  - [en](https://longbridge.com/en/news/278813804.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/278813804.md)
---

> 支持的语言: [English](https://longbridge.com/en/news/278813804.md) | [繁體中文](https://longbridge.com/zh-HK/news/278813804.md)


# Allianz and Yongming Financial are reportedly considering acquiring HSBC's insurance business in Singapore | Lianhe Zaobao

According to informed sources, Allianz SE and Sun Life Financial of Canada are considering bidding for HSBC Holdings' insurance business in Singapore. Previously, HSBC announced a strategic review of this business.

Bloomberg reported that sources said Dai-ichi Life Holdings Inc. and Nippon Life Insurance from Japan may also participate in the bidding for HSBC Life Singapore. As discussions are still ongoing privately, these sources requested anonymity. The sales process began this month, and non-binding offers may emerge in the coming weeks.

Currently, all parties are still considering, and the companies participating in the bidding may decide not to proceed, and other bidders may also emerge.

Representatives from Allianz, Dai-ichi Life, and Nippon Life declined to comment. A spokesperson for Sun Life stated that the company has been looking for opportunities to enhance scale and capabilities and advance its goals and strategies, but did not comment further on the matter.

#### Further Reading

HSBC launches strategic assessment of local insurance business, may explore sale but no decision yet HSBC invests $1.5 billion in special fund to support regional startups and venture capital firms

A representative from HSBC stated that the Singapore insurance business is undergoing a strategic review, and no decision has been made, declining to comment further HSBC began reviewing its insurance business in January as part of a global streamlining plan, stating that Singapore is a priority market and all options will be considered. According to informed sources, the valuation of HSBC Life Insurance (Singapore) in this transaction could exceed USD 1 billion.

Reuters previously reported that HSBC has initiated a sales process and is in contact with potential buyers, including Dai-ichi Life Insurance and Nippon Life Insurance.

Four years ago, HSBC acquired AXA Singapore for USD 529 million, led at the time by former CEO Noel Quinn. His successor, Georges Elhedery, has cut management levels, positions, and business. Since Elhedery took over in September 2024, HSBC's stock price in Hong Kong has nearly doubled

### 相关股票

- [HSBC (HSBC.US)](https://longbridge.com/zh-CN/quote/HSBC.US.md)
- [HSBC HOLDINGS (00005.HK)](https://longbridge.com/zh-CN/quote/00005.HK.md)

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