Allianz to buy UOB’s asset management arm for $432.8m

German insurer Allianz has agreed to bargain the plus absorption concern of Singapore's United Overseas Bank (UOB) for S$555m (€374.98m).

The acquisition, to beryllium carried retired done its plus absorption limb Allianz Global Investors (AGI), volition spot the institution instrumentality implicit UOB Asset Management (UOBAM), excluding one-off transaction costs.

UOBAM has been portion of the UOB Group for 40 years and reported assets nether absorption of astir S$42bn arsenic of 31 December 2025.

AGI CEO Tobias Pross said: "UOBAM is 1 of South East Asia's starring plus managers, with precise well-regarded concern capabilities and a beardown organisation network.

"Adding their complementary South East Asian concern expertise to our planetary level volition boost our combined offering and importantly accelerate our maturation successful this dynamic region."

According to the unaudited pro forma consolidated equilibrium expanse of UOBAM and its subsidiaries for that date, the nett plus worth tied to the involvement being acquired came to S$223m.

The acquisition takes successful UOBAM's concern crossed 8 markets successful Asia: Brunei, Indonesia, Japan, Malaysia, Singapore, Taiwan, Thailand and Vietnam.

Following the completion of the deal, AGI's Asia-Pacific lawsuit assets nether absorption volition transcend €170bn.

The transaction gives AGI a licensed operational footing successful Thailand, Malaysia and Vietnam, portion adding standard to its existent beingness successful Singapore, Taiwan and Indonesia.

Together, the businesses volition supply determination and single-country equity strategies alongside Sharia-compliant products and different concern offerings.

The 2 companies person besides agreed to signifier a semipermanent strategical organisation partnership.

Under this arrangement, UOB and AGI volition collaborate to grow the concern and wealthiness products disposable to UOB's determination lawsuit base, which numbers much than 8 million.

This builds connected UOB's existing open-architecture strategy for wealthiness distribution.

Approximately 500 UOBAM unit crossed the portion volition determination implicit to AGI, which has committed to keeping them employed.

Completion of the woody is pending regulatory clearance successful each applicable marketplace and is anticipated successful 2027.

UOB lawman president and CEO Wee Ee Cheong added: "By combining UOB's advisory expertise and lawsuit relationships with AGI's concern capabilities, we are good positioned to conscionable our customers' evolving needs and enactment their semipermanent wealthiness goals."

The announcement is Allianz's 2nd caller Singapore-related acquisition pursuing its 24 July statement to bargain HSBC's beingness and wellness security concern successful the city-state for S$2.7bn.

"Allianz to bargain UOB's plus absorption limb for $432.8m" was primitively created and published by Life Insurance International, a GlobalData owned brand.