[Consolidated] Income Insurance, Allianz in talks on tie-up, seeking regulatory approval

[Travis_Touchdown]

JSKM... wear sho mani hats...

 

[Shion]

i hope MAS conduct a thorough investigation over this issue

and i hope MAS block this deal

 

[LocalRider]

So next time there won’t be a TKL equivalent from NTUC run for president liao.

I wonder when this elected presidency was designed by LKY, what was his original intent? Anyway most Singaporeans won’t qualify with the high bar in future.

 

[cute_togepi]

when will MAS conduct a thorough investigation on this ?

At most if he guilty then he tank the sh!t, meanwhile its biz as usual for the important people in NTUC like NCM. I don't believe NCM has no knowledge of this.

 

[Visor9999]

https://www.channelnewsasia.com/sin...-ong-morgan-stanley-conflict-interest-4506916

What’s does ntuc income have to do with ntuc supermarket popcorn

 

[samferguson]

Getting bolder and bolder by the day ever since the old man died. Sad.

 

[Visor9999]

Pappies came up with the 'recuse' excuse to circumvent conflict of interests. Now everyone want to follow.

They cashing out on state assets, parliament should debate about this asap

 

[halocast]

This is ... hmm..

 

[2Blogic]

jialat, i have some money with them
need to withdraw

 

[andyhtc]

Income insurance can be sold.

next will be SIA, SPH (if anyone wants to buy, lol), CPF, Keppel etc.

but i hope the entire cabinet is sold la, maybe half chinese and half indians...

Imagine HDB is privatised.

 

[Laneige]

GERMAN financial services giant Allianz is making an offer to acquire 51 per cent of Singapore-based insurer Income Insurance for S$40.58 per share. The deal amounts to some 1.5 billion euros (S$2.2 billion), Allianz announced on Wednesday (Jul 17).

NTUC Enterprise Co-operative Limited currently owns around 72.8 per cent of the insurer, represented by about 78 million shares out of the total 107.2 million shares as at Dec 31, 2023, based on Income Insurance’s annual report. The balance is held mainly by retail investors.

The cooperative will continue to “retain a substantial stake in Income Insurance” after the deal is completed, the announcement said.

The deal comes as Allianz seeks to expand and strengthen its presence in Singapore. Through its continued partnership with NTUC Enterprise Co-operative, it aims to focus on life and health, and property and casualty insurance in Singapore.

The insurer said it intends for Income Insurance to continue participating in national insurance programmes. It will also ensure a “seamless transition” for policyholders of Income Insurance, and honour the existing policies underwritten by Income Insurance.

Allianz is one of the world’s largest global financial services groups and it achieved an operating profit of 14.7 billion euros in 2023. It has a presence in Asia across nine markets and serving nine million customers through a network of 80,000 distributors and 35 distribution partners.

https://www.businesstimes.com.sg/co...gUCoMshxSDft5fWDAQ_aem_IYqshdh9lf4asYDNJByTMg

Intend is intend mah

later change of Mgmt or whatever just say no longer align with co direction etc or whatever, say wana reshuffle means reshuffle right ????
Can say no by then?

 

[Tatuho]

i hope MAS conduct a thorough investigation over this issue

and i hope MAS block this deal

Mas belong to who, ntuc belong to who. Ownself check onself. U think will stop? Dun be do naive.

 

[boredom2012]

Where is Brother Ng, why is he sooooooo quiet?

Lawrence Wong more quiet. Already show what is their decision

 

[Evil Slayer]

What is wrong with making more money?

The only ones who benefits from this are the shareholders. And these big shareholders are the ones making the decision, so we all know how it will end up

Not sure how much power the govt has to stop this sales. Not even sure if they want to stop it since it’s probable at least quite a few of the MPs etc are shareholders too.

https://www.ntuc.org.sg/uportal/about-us/ntuc-central-committee


Just see how many PAP members inside there lor.....

 

[blu3bird]

another 10 years, SAF also can be pte ltd and sold off

 

[doppypoppy]

FTX losses have to be paid by someone, bo bian

 

[lalalalalala]

They cashing out on state assets, parliament should debate about this asap

lol pls la, this one not lky house

 

[radish]

some elites really treat peasants as fools.

 

[lowsesbbfa]

when will MAS conduct a thorough investigation on this ?

It's 'will they', not 'when will'...

 

[Shion]

It's 'will they', not 'when will'...

thanks for correction