01:49 AM EDT, 08/05/2026 (MT Newswires) -- Allianz's (ALV.F) asset management business agreed to buy Singapore-based lender UOB Group's asset management arm, UOB Asset Management, for SG$555 million. The German insurer said Wednesday the transaction will strengthen Allianz Global Investors' operations in the Asia-Pacific, increasing its assets under management in the region to more than 170 billion euros. The deal includes a long-term distribution agreement between the parties that will give Allianz Global Investors access to UOB's retail client network. Completion of the transaction is expected in 2027, subject to regulatory approvals.

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