Allianz, Income Insurance

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.
Allianz Withdraws Offer to Acquire Income Insurance
Allianz said 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German insurer Allianz has withdrawn its offer to acquire at least 51% of Singapore's Income Insurance for about $1.63 billion, the company said in a statement on Monday.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 Is Close to Dropping Income Insurance Deal
Allianz SE is close to scrapping a proposed S$2.2 billion ($1.6 billion) acquisition of Singapore’s Income Insurance Ltd. following public backlash to the deal, people with knowledge of the matter said.
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Allianz Europe, a subsidiary of Allianz, has withdrawn its pre-conditional voluntary cash general offer to acquire at least a 51% stake in Income Insurance.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).
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German insurer Allianz on Monday (Dec 16) announced that it has withdrawn its offer to acquire a majority stake in Income Insurance.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 officially withdraws majority stake offer for Income Insurance
SINGAPORE: Global insurance giant Allianz, through its subsidiary Allianz Europe B.V., has officially withdrawn its pre-conditional voluntary cash general offer to acquire at least 51% of Income Insurance. The decision comes in response to recent changes to the Insurance Act announced by the Singapore Government on 14 Oct.
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 scraps proposed acquisition of Singapore's Income Insurance, source says
Allianz SE has scrapped a proposed $1.5 billion euro acquisition of a 51% stake in Singaporean firm Income Insurance Ltd because of public opposition to the deal, a source familiar with the matter said.
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 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.
The Online Citizen14h
The collapse of the Allianz-Income Insurance deal: A cash-out exercise disguised as growth?
The collapse of the Allianz-Income Insurance deal exposes troubling priorities. The S$1.85 billion capital extraction plan, ...
Business Times5h
Allianz pull-out ‘provides clarity’ on Income’s special position
GERMAN insurer Allianz likely misjudged Income Insurance’s special position in Singapore, industry watchers said. And the ...