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

Published Aug 6, 03:03 PM UTC

German insurer Allianz, through its asset management arm Allianz Global Investors (AGI), has agreed to acquire UOB Asset Management (UOBAM) from Singapore's United Overseas Bank (UOB) for S$555 million (approximately $432.8 million). UOBAM, which has been part of UOB for 40 years, reported assets under management of about S$42 billion as of December 2025. The acquisition covers UOBAM's operations across eight Asian markets, including Singapore, Thailand, Malaysia, and Vietnam. Following the deal, AGI's Asia-Pacific client assets under management will exceed €170 billion. The two companies also agreed to a long-term strategic distribution partnership to expand investment and wealth products for UOB's regional customer base of over eight million. Approximately 500 UOBAM staff will transfer to AGI, which has committed to retaining them. The transaction is pending regulatory approvals and is expected to close in 2027. This marks Allianz's second recent Singapore-related acquisition, following its agreement to buy HSBC's life and health insurance business in Singapore for S$2.7 billion in July 2026.