Singapore's Income Insurance in talks with Allianz on potential deal, no details

By Yantoultra Ngui

SINGAPORE (Reuters) -Singapore's Income Insurance Ltd said on Friday it is in talks with Allianz about a possible tie-up, saying only that any potential deal related to its shares.

The statement suggests Allianz could take a stake in the Singapore insurer or the two companies could form some sort of partnership.

There is no assurance that any transaction will materialise or that any definitive or binding agreement will be reached, Income Insurance said in its statement.

"No further details at this point as no definitive agreement has been reached," a spokesperson for Germany-based Allianz said in an emailed response to Reuters' request seeking comment on Friday.

Established in 1970, Income Insurance offers life, health and general insurance, according to its website.

"Income Insurance will make further announcements if and when there are any material developments which warrant disclosure, in compliance with applicable laws and regulations," it said in its statement.

(Reporting by Yantoultra Ngui; editing by Tomasz Janowski, Jason Neely and Susan Fenton)