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On 17 July 2024, Allianz announced its intention to acquire, through its subsidiary Allianz Europe, at least 51% of the shares of Singapore-based composite insurer Income Insurance.
The German group has submitted an offer to purchase this majority stake for a total amount of 2.2 billion SGD (1.6 billion USD).
This operation will enable Allianz to strengthen its position in Asia, particularly in Singapore.
Subject to regulatory approval, the transaction is expected to be finalized in Q4 2024 or Q1 2025.
