Allianz-Income deal frazzle shocks insiders; coming up with new proposal no easy task

Quick Summary:

Allianz and NTUC Enterprise were informed of the rejection shortly before the government decision was made public.

For Allianz, as an industry source puts it, the insurer will have to figure out what it is going to do without Income’s surplus that would have sweetened the deal.

In 2022, when Income switched from a co-operative to a corporation, MCCY had allowed it to keep around $2 billion in surplus as the insurer continued running its business.

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Article Details

Category: EconomyBusiness

Markets: Singapore

Topics: Ntuc Allianz Income Offer Proposed Deal Business Plan Enterprise Decision Insurer

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-15 @ 11:30:00 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 913 words

Reading Time: 6 minutes read

Sentences: 40 lines

Sentence Length: 23 words per sentence (average)

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Copyright Owner: © The Straits Times

News ID: 23067592

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