Singapore blocks Income’s deal with Allianz
Singapore’s amendment to Insurance Act blocks Allianz $1.7bn deal
The government declared the transaction with Income Insurance not in the public interest, prompting the legislative change.
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.
Singapore blocks Allianz-Income deal with Insurance Act amendment; Olympians and Paralympians honoured in Parliament: Singapore live news
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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.
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. Most Read fr
CNA Explains: What you need to know about the Income-Allianz deal being blocked by Singapore
The Singapore government intervened to stop a proposed deal between Income Insurance and German-based insurance giant Allianz, with three Cabinet ministers explaining the rationale.
Singapore Parliament passes Bill enabling government to block Allianz-Income deal
SINGAPORE: The minister in charge of Singapore’s financial regulator will have powers to block deals involving insurers that are run or substantially owned by cooperatives after Parliament passed new laws on Wednesday (Oct 16).
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 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.
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.
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 ...
The Edge Singapore5h
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; ...
Channel NewsAsia Singapore6h
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 Singapore8h
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.