Singapore’s Income Insurance, Allianz in Talks on Potential Transaction

Singapore’s Income Insurance Ltd is in discussion with Allianz regarding a transaction relating to its shares in Income Insurance, it said in a statement on Friday.

The company added in the statement that there is no assurance that any transaction will materialize or that any definitive or binding agreement will be reached.

“Income Insurance will make further announcements if and when there are any material developments which warrant disclosure, in compliance with applicable laws and regulations,” it said.

Allianz did not immediately respond to a request seeking comment.

Established in 1970, Income Insurance offers life, health and general insurance, according to its website.

(Reporting by Yantoultra Ngui; editing by Tomasz Janowski and Jason Neely)

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