Allianz

Allianz to cut up to 1,800 jobs due to AI advances

The jobs are set to be eliminated over the next 12 to 18 months

Income's total assets grew 2.5 per cent on the year to S$43.4 billion for the financial year ended Dec 31, 2024. Its net asset value per share for the period was S$31.97.

Income Insurance to explore other share liquidity options after scuppered Allianz deal: departing chairman Ronald Ong

The board has proposed that lead independent director Joy Tan to take over as chairman, subject to her re-election and regulatory approvals

Allianz withdrew its pre-conditional voluntary general offer on Dec 16, 2024, after Parliament passed the Insurance (Amendment) Bill under a Certificate of Urgency on Oct 16, 2024.

MAS turns down ex-NTUC Income CEO’s request to meet chairman Gan Kim Yong over Allianz matter

It says the proposal by the German insurer to buy a controlling stake in Income has already been debated in Parliament

German insurer Allianz offered to buy a majority stake in Income Insurance for S$2.2 billion last July.

Income-Allianz deal timeline: A recap of the scuppered S$2.2 billion sale

[SINGAPORE] The proposed S$2.2 billion deal involving the sale of Singapore’s Income Insurance to German insurer Allianz – which the government eventually called off – was a major talking point during...

DPM Gan addressed the issue – which has become a hot topic this general election – on the sidelines of a walkabout in Punggol GRC.
SINGAPORE GE2025

GE2025: PM Wong takes aim at WP’s ‘negative politics’, says DPM Gan has ‘done so much’ for Singapore

When MAS saw Allianz-Income deal, focus was ownership, not capital extraction, adds DPM Gan

Labour chief Ng Chee Meng apologised over the Allianz-Income deal at a PAP rally on Apr 27.
SINGAPORE GE2025

GE2025: Allianz-Income deal was done in good faith, says labour chief Ng Chee Meng

[SINGAPORE] The Allianz-Income deal was done in good faith and in compliance with regulations from the law and the Monetary Authority of Singapore, said labour chief Ng Chee Meng on Sunday (Apr 27) n...

The German insurer, which owns asset manager Pacific Investment Management Co, saw operating profit climb 11 per cent to 4.17 billion euros (S$5.84 billion), lifted by its property and casualty business.

Allianz profit beats as Pimco parent starts new buyback programme

Allianz’s earnings for the full year rose 8.7% to 16 billion euros

The government’s intervention in the proposed acquisition of Income Insurance highlights the importance of preserving its social mission, industry watchers say.

Allianz pull-out ‘provides clarity’ on Income’s special position

The local insurer occupies a unique role in Singapore with its social mission

Income Insurance has a special place in Singaporeans' hearts. This was evident in the outcry and debate that ensued following news of Allianz's offer for Income and its proposed capital reduction plan.
COMMENTARY

Silver lining in the scrapping of Allianz’s offer for Income Insurance

Given Income’s relationship with NTUC Enterprise, there is a greater onus on any potential acquirer to account for how the insurer’s capital is deployed

Income Insurance, which has around 1.7 million customers and offers life, health and property insurance, was founded in the 1970s to offer insurance to poorer parts of the population.

Allianz scraps proposed acquisition of Singapore’s Income Insurance: source

Allianz has scrapped a proposed 1.5 billion euro (S$2.1 billion) acquisition of a 51 per cent stake in Singaporean firm Income Insurance because of public opposition to the deal, a source familiar wit...