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Singapore blocks Income Insurance’s deal with Allianz
Singapore Lawmakers Amend Bill to Stop Allianz’s Insurance Deal
Singapore lawmakers passed an amendment to a bill that will effectively block Allianz SE’s proposed S$2.2 billion ($1.7 billion) acquisition of a majority stake in a local insurance firm.
Singapore to block Allianz deal for Income but open to new offer, PM says
Singapore will block a bid by German insurer Allianz to buy a majority stake in Singapore's Income Insurance but remains open to a new deal if its concerns can be addressed, Prime Minister Lawrence Wong said in a Facebook post on Monday.
MPs in Singapore raise questions over communication, business uncertainty in move to block Allianz-Income deal
SINGAPORE: The information-sharing process between different agencies was among the key issues raised as MPs debated the move to halt German insurer Allianz’s planned offer for Singapore’s Income Insurance.
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Singapore blocks Allianz-Income deal with Insurance Act amendment; Olympians and Paralympians honoured in Parliament: Singapore live news
Yahoo Singapore is featuring a curated selection of some of the biggest, most important, and fascinating news that's making waves online.
Income-Allianz deal: MPs clash over Insurance Act amendment in 4-hour debate
The Insurance Act was amended after Parliament passed a Bill on Wednesday (Oct 16). The new amendment requires the Monetary Authority of Singapore (MAS) to seek the approval of the Ministry of Culture,
Singapore blocks Income-Allianz deal but leaves door open if concerns over public interest are fully addressed
The Ministry of Culture, Community and Youth says it is not confident that the proposed transaction would not affect Income, or the co-op movement as a whole to carry out its social mission.
Parliament passes Bill enabling Govt to block Allianz-Income deal
MAS can consider MCCY's views for deals involving an insurer that is either a co-op or linked to one. Read more at straitstimes.com.
Singapore to Halt $1.69 Billion Allianz Deal for Majority Stake in Income Insurance
The Singapore government plans to put a halt to a proposed deal by Germany’s Allianz to buy a majority stake in Singapore insurance company Income Insurance.
Singapore Halts Allianz Bid To Buy Majority Stake In Local Insurer
Singapore on Monday moved to stop a US$1.7 billion deal that would have allowed German insurance giant Allianz to buy a majority stake in a local insurer.
MPs raise questions over communication, business uncertainty in move to block Allianz-Income deal
These issues and more were raised in a lengthy Parliament debate lasting four hours. Read more at straitstimes.com.
Singapore blocks Income’s deal with Allianz, as PM Wong cites ‘structure, terms’ concerns
Prime Minister Lawrence Wong says the government remains open to a new deal if the concerns are fully addressed.
The Edge Singapore
1h
Briefs: Allianz to consider revisions to Income deal; FIH closes 4.5% down in first trading day; Thailand cuts rates
Allianz to consider revisions to Income deal; FIH closes 4.5% down in first trading day; Parkway Life REIT's results; ...
2d
on MSN
Singapore hits brakes on $1.7 billion Allianz deal for one-time insurance cooperative after it sparks public outcry
Singapore’s government made a rare intervention in a merger deal, stepping in to block a controversial $1.7 billion deal by ...
Channel NewsAsia Singapore
2h
Income-Allianz saga: Union leaders concerned about impact on NTUC’s standing, ties with government
The NTUC-PAP relationship remains strong despite the difference in views over the Allianz deal, NTUC secretary-general Ng ...
The Independent Singapore
4h
Ng Chee Meng confirms NTUC respects Govt’s decision to halt Allianz deal
He added that union leaders who backed the deal, were naturally worried about the potential consequences of the decision.
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