HSBC plans to sell its Singapore life and health insurance business to Allianz Group. The asset disposal is expected to generate pre-tax revenue of US$1.8 billion, and the HSBC Group's core Tier 1 capital adequacy ratio is expected to increase by up to 15 basis points. Upon completion of the transaction, HSBC will sign an exclusive banking insurance distribution agreement with Allianz for a period of 15 years.

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