Allianz plans majority stake in Singapore firm to widen access to Asia markets
Europe's largest insurer, Allianz, is aiming to substantially enhance its presence in Singapore. In a statement, Allianz said the offer was a subsidiary collaboration formed through Allianz Europe BV involving a voluntary cash general offer of $40.58 (€37.13) per share. The insurance giant said Singapore's role as a dominating financial hub in the region could create more opportunities for product development, underwriting, and data analytics. The deal could catapult the company from ninth to fourth position in Asia's insurer market, it said. Income insurance remains one of Singapore's top fou...