Allianz has pledged to honour Income's existing policies and continue its involvement in national insurance programs and charitable activities
SINGAPORE: National Trades Union Congress secretary-general Ng Chee Meng and president K Thanaletchimi have revealed in a joint statement that the labour movement has received assurances from Income that premiums for two of its low-cost insurance schemes will remain affordable despite the proposed majority stake buyout by German conglomerate Allianz.
This includes a significant pledge of S$100 million over the next decade to support social mobility for lower-income individuals and enhance senior citizens’ well-being.Addressing concerns about the deal with Allianz, Mr Ng expressed understanding and appreciation for these sentiments. He highlighted that NTUC Enterprise has consistently invested in Income and will continue to do so, though external support is necessary.
They assured that Income’s enterprises will persist in offering affordable, high-quality essential goods and services to Singaporeans while providing customers with diverse choices in competitive markets.
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