Chee Hong Tat on safeguarding customers’ interests in planned acquisition of Income Insurance by Allianz

The Monetary Authority of Singapore had reviewed and was satisfied with the relevant processes Income’s board had put in place to address conflicts of interest in the appointment of its financial adviser on its proposed deal with Allianz Insurance and the decision to enter into the deal, said Second Minister for Finance Chee Hong Tat.

The Monetary Authority of Singapore had reviewed and was satisfied with the relevant processes Income’s board had put in place to address conflicts of interest in the appointment of its financial adviser on its proposed deal with Allianz Insurance and the decision to enter into the deal, said Second Minister for Finance Chee Hong Tat.

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Diplomat Tommy Koh asserts Income Insurance should not be sold to German company Allianz'It was founded to serve a social purpose and a social need... I wish to argue that INCOME and Fairprice should never be sold,' he exclaimed
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American company says Allianz acquisition of Income Insurance unlikely to impact Singapore marketDespite the optimistic forecast from the US credit ratings agency, the acquisition has sparked considerable debate among prominent Singaporeans.
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