Allianz in Talks for Deal With Singapore’s Income Insurance

Allianz SE, Europe’s biggest insurer, is discussing a possible tie-up with Singapore-based Income Insurance Ltd.

The German firm is in talks about a transaction relating to the shares of Income Insurance, the Singapore company said in a statement Friday, confirming an earlier Bloomberg News report. A deal would see Allianz buying a stake in closely held Income Insurance and could also involve a partnership agreement, people with knowledge of the matter said earlier.

There’s no certainty that any transaction will materialize, Income Insurance said in the statement. A representative for Allianz declined to comment. Bloomberg News first reported ...