Allianz to acquire a 51% stake in Income Insurance for $1.6bn.

Allianz, a multinational financial services company, agreed to acquire a 51% stake in Income Insurance, a composite insurer based in Singapore, offering life, health and general insurance, for $1.6bn. “We look forward to partnering with Income Insurance, a leading insurer that shares Allianz’s values and commitment to customer excellence. This proposed transaction brings two strong businesses together for the benefit of Singapore’s customers and solidifies Allianz’s leadership position in the region,” Renate Wagner, Allianz Member of the Board of Management.