NTUC Income, established over 50 years ago, saw a surplus of $2 billion in 2022. It is a social enterprise that aims to address social challenges in Singapore and should not merge with Allianz.
The success of Income can be seen from the fact that in 2022, it had a surplus of $2 billion.The story of NTUC Income began more than 50 years ago and we do not believe it should end as a merger with German insurer Allianz . NTUC Income is a social enterprise and should continue to perform that role. This is an opportunity to draw upon Income’s enduring mission to tackle the evolving social challenges of a new Singapore , meeting the needs of our time.
In 1970, the National Trades Union Congress , under the leadership of C.V. Devan Nair, established NTUC Income as a cooperative under it. Mr Nair had spoken of the need for NTUC to become a social institution, in order to serve the workers in various ways. The then Finance Minister, Dr Goh Keng Swee, supported this mission. He urged NTUC to set up social enterprises, in areas such as life insurance and essential consumer goods, to meet the needs of the working population.
NTUC Income Social Enterprise Surplus Allianz Singapore
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-Income deal: Shanmugam clarifies he only passed on ex-NTUC Income chief's viewsSINGAPORE — The ultimate decision to amend the Insurance Act — which would prevent the current form of the Allianz-Income deal from going through — was made by Prime Minister Lawrence Wong himself, together with the Cabinet. Law and Home Affairs Minister K.
Read more »
Not certain the Income deal will take place, discussions ongoing: AllianzAllianz says discussions with Income and NTUC Enterprise are ongoing.
Read more »
No guarantee Income deal will take place, discussions ongoing: AllianzAllianz says discussions with Income and NTUC Enterprise are ongoing.
Read more »
Upskill anytime, anywhere with NTUC LearningHub and LinkedIn LearningThe new partnership offers users flexibility, customisation and convenience.
Read more »
Vietnam jails six over karaoke bar blaze that killed 32 in 2022Bar owner Le Anh Xuan was given eight years in jail.
Read more »
No foul play suspected in death of knife-wielding man shot by police officer in 2022Police officers had fired three Taser shots at Ng Eng Kui, 64, but failed to incapacitate him.
Read more »