Fitch Ratings has assessed Allianz’s proposed acquisition of a majority stake in Singapore’s Income Insurance, stating that the deal would elevate Allianz to the fourth largest composite insurer in Asia and make it a leading player in Singapore’s property and casualty sector. The acquisition aligns with Allianz’s strategy to pursue inorganic growth in the property and casualty insurance sector, and is expected to strengthen the company’s market position in Singapore. Income Insurance is poised to gain from Allianz’s global expertise and potential synergies between the two entities. The deal is consistent with Allianz’s strategic goals, and is neutral to the group’s capitalization, company profile, and financial performance.
Source and Details