The labour movement also acknowledged the public’s concerns over the sale of the insurer.
SINGAPORE - Retaining a majority shareholding in Income Insurance and keeping the insurance provider locally owned would have been ideal.
“In the end, Allianz’s credentials proved to be strongest, with the interests on both sides aligned,” NTUC said in the statement by its president K. Thanaletchimi and secretary-general Ng Chee Meng. It added that NE will continue to retain a substantial stake in Income, and that Allianz has also committed to honouring Income’s existing policies, continuing its charity commitments and participating in national insurance programmes.
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