Allianz withdraws takeover offer for Singapore's Income Insurance

NAMPA / DPA

2024-12-16

Munich (dpa) - German insurance giant Allianz has withdrawn a $1.6 billion takeover offer for Singapore's Income Insurance following resistance from the South-East Asian country's government, the Munich-based company said on Monday. Allianz said the firm regretted the decision, but was focused on continuing to expand its presence in the Asia-Pacific region despite the setback. It comes after Allianz had announced plans to acquire at least 51% of......

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