Allianz, Income Insurance

Allianz Withdraws Offer to Acquire Income Insurance
Allianz said Monday that it is withdrawing a preconditional offer made in July for a 51% stake in the insurer, adding that it respects a decision by the Singapore government against the transaction.
Allianz withdraws $1.63 billion offer for Singapore's Income Insurance
German insurer Allianz has withdrawn its offer to acquire at least 51% of Singapore's Income Insurance for about $1.63 billion, the company said in a statement on Monday. Reuters reported on Dec. 13 that the insurer had scrapped the proposed acquisition.
Allianz withdraws bid for Income Insurance acquisition
Allianz Europe, a subsidiary of Allianz, has withdrawn its pre-conditional voluntary cash general offer to acquire at least a 51% stake in Income Insurance. This decision comes after subsequent changes to the Insurance Act by the Singapore Government in October. Initially proposed in July 2024, the acquisition was valued at $1.7bn (S$2.24bn).
Allianz calls off deal with Income Insurance after public scrutiny
The German insurer remains convinced it is the right partner to support Income’s continued growth. Read more at straitstimes.com.
Income could still find other buyers but investors may be cautious, say analysts after Allianz withdraws offer
German insurer Allianz on Monday (Dec 16) announced that it has withdrawn its offer to acquire a majority stake in Income Insurance.
Allianz withdraws offer for majority stake in Income Insurance following Govt opposition
German insurer Allianz SE has announced the withdrawal of its S$2.2 billion (US$1.6 billion) pre-conditional voluntary cash general offer to acquire a 51% stake in Singapore’s Income Insurance Limited (Income Insurance).
Allianz Pulls $1.7 Billion Bid to Buy Stake in Singapore Insurer
Allianz SE withdrew an offer to buy a majority stake in Singapore insurer Income Insurance Ltd. for about S$2.2 billion ($1.7 billion), following public backlash to the deal.
Allianz withdraws offer to acquire Income Insurance after Singapore government intervention
SINGAPORE: German insurer Allianz on Monday (Dec 16) announced that it has withdrawn its offer to acquire a majority stake in Income Insurance. This comes after the Singapore government raised concerns about the proposed deal, which was first announced on Jul 17 .
Allianz withdraws offer for Income; Income says material information would have been disclosed
Allianz withdraws bid for Income, Income says preliminary plan not subject to board approval, and details of formal offer would have been disclosed
Allianz withdraws pre-conditional offer for Income Insurance while confirming its long-term commitment to Singapore
Allianz withdraws the pre-conditional voluntary cash general offer to acquire majority stake in Income Insurance Limited (Income Insurance) originally announced on July 17 • This follows the Singapore Government’s announcement on October 14,
Germany’s Allianz withdraws offer to acquire Singapore’s Income Insurance
The decision comes after public outcry and government scrutiny over the importance of balancing commercial interests with social responsibility.
Bloomberg on MSN3d
Allianz Is Close to Dropping Income Insurance Deal
(Bloomberg) -- Allianz SE is close to scrapping a proposed S$2.2 billion ($1.6 billion) acquisition of Singapore’s Income ...
Mothership.sg17h
Allianz calls off Income deal after S'pore government opposes decision
German insurance company Allianz has withdrawn its offer to acquire a majority stake in homegrown insurer Income Insurance ...