Allianz says it remains convinced it is the right partner to support Income Insurance's continued growth.
Allianz says it remains convinced it is the right partner to support Income Insurance 's continued growth.
"The extensive discussions which Allianz and Income Insurance have had over the last months have further highlighted the shared values between the two groups." NTUC Enterprise said in a separate media release on Monday that it acknowledges Allianz's decision to withdraw its offer in view of the legislative changes that affected the deal.
"While Income Insurance’s capital adequacy ratio is currently at a healthy level, NTUC Enterprise recognises the need to be prepared for a more turbulent and volatile world given the possibility of future economic crises and pandemics." Others who spoke up against the deal include former NTUC Income CEO Tan Kin Lian and ambassador-at-large Tommy Koh.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Allianz withdraws $2.2b offer for Singapore's Income InsuranceSINGAPORE — Allianz has withdrawn its offer to acquire at least 51 per cent of Singapore's Income Insurance for about US$1.63 billion (S$2.2 billion), the German company said in a statement on Monday (Dec 16). Reuters reported on Dec 13 that the German insurer has scrapped the proposed acquisition.
Read more »
Allianz scraps proposed acquisition of Income Insurance, source saysAllianz SE has scrapped a proposed $1.5 billion euro (S$2.2 billion) acquisition of a 51 per cent stake in Singaporean firm Income Insurance Ltd because of public opposition to the deal, a source familiar with the matter said.
Read more »
Singapore's Lower and Median Earners See Real Income Growth in 2024Median and lower-wage earners in Singapore experienced real income growth in 2024 after adjusting for inflation, according to early findings from the Ministry of Manpower. The income gap between these groups also narrowed further.
Read more »
Singapore's ComLink+ Scheme Aims to Boost Social Mobility Among Low-Income FamiliesSingapore's ComLink+ scheme was launched in 2023 to support low-income families through financial incentives and assistance in education, employment, housing, and debt relief. A recent report reveals the progress and challenges faced by participating families.
Read more »
Over 80% of companies hiked salaries for lower-income earning workers last year: MOM Singapore News -%
Read more »
Singapore's Labour Force Shows Rebounding Income Growth and Declining Working HoursSingapore's Ministry of Manpower (MOM) reports on the resident labour force showing positive trends in income growth and a continued decline in working hours. However, concerns arise over the ageing population and its impact on the workforce composition.
Read more »