Germany's Allianz on Thursday posted a better-than-expected 7.5% rise in second-quarter net profit and said it was on track to meet its full-year target.
Germany's Allianz said on Wednesday that it was planning to buy a majority stake in Singapore's Income Insurance for around $1.6 billion.
Allianz Global Investors (AGI), one of the investment arms of German insurer Allianz, has become the first foreign company to own a stake in China's pension insurance giant Guomin Pension.
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.