Short summary A change in insurer ownership does not automatically change or cancel your existing insurance policy, so surrendering it solely because of an acquisition may not be necessary. Before surrendering, review the policy’s benefits, premiums, surrender value and whether it still meets your needs, as replacing it could mean higher costs, new exclusions or lost benefits. If you are considering whether to surrender an insurance policy in Singapore after an acquisition, a change in ownership alone is not a reason to end an existing insurance contract. Your policy remains subject to its contractual terms and the regulatory processes that apply when an insurance business changes hands. This has come into focus after HSBC agreed to sell its Singapore life and health insurance business, HSBC Life, to Germany’s Allianz for S$2.7 billion. For existing policyholders, Allianz will be taking over an established portfolio of policies rather than starting a new insurance operation from scratch....