Germany Insurance & Asset Management Giant Allianz in Talks with Singapore Income Insurance Group in Potential Share Transaction, Income Insurance with $31 Billion Assets was Previously Known as NTUC Income Insurance Co-operative, Allianz Market Value at $108 Billion & Owns Leading Global Asset Managers PIMCO & Allianz Global Investors
19th June 2024 | Hong Kong
Germany insurance & asset management giant Allianz is currently in talks with Singapore Income Insurance group in a potential share transaction. Income Insurance has around $31 billion assets, and was previously known as NTUC Income Insurance Co-operative. Allianz current market value is around $108 billion (19/6/24), and owns leading global asset managers PIMCO & Allianz Global Investors. Income Insurance (14/6/24): “Income Insurance Limited (“Income Insurance”) wishes to announce that it is currently in discussion with Allianz on a transaction relating to the shares of Income Insurance (the “Shares”). Income Insurance wishes to emphasise that there is no assurance that any transaction will materialise or that any definitive or binding agreement will be reached. Income Insurance will make further announcements if and when there are any material developments which warrant disclosure, in compliance with applicable laws and regulations. Shareholders of Income Insurance (“Shareholders”) are advised to exercise caution when dealing in the Shares and to refrain from taking any action in respect of the Shares which may be prejudicial to their interests. Shareholders are advised to read this Announcement and any further announcements by Income Insurance carefully. In the event that Shareholders wish to deal in the Shares, they should seek their own professional advice. The directors of Income Insurance (including any director who may have delegated detailed supervision of the preparation of this Announcement) have taken all reasonable care to ensure that the facts stated and opinions expressed in this Announcement are fair and accurate and that there are no other material facts not contained in this Announcement, the omission of which would make any statement in this Announcement misleading. The directors of Income Insurance jointly and severally accept responsibility accordingly.”
“ Germany Insurance & Asset Management Giant Allianz in Talks with Singapore Income Insurance Group in Potential Share Transaction, Income Insurance with $31 Billion Assets was Previously Known as NTUC Income Insurance Co-operative, Allianz Market Value at $108 Billion & Owns Leading Global Asset Managers PIMCO & Allianz Global Investors “
The Allianz Group is one of the world’s leading insurers and asset managers with around 125 million* private and corporate customers in nearly 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing around 746 billion euros** on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage about 1.8 trillion euros** of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we are among the leaders in the insurance industry in the Dow Jones Sustainability Index. In 2023, over 157,000 employees achieved total business volume of 161.7 billion euros and an operating profit of 14.7 billion euros for the group.
Income Insurance Limited (Income Insurance) is one of the leading composite insurers in Singapore, offering life, health and general insurance. Established in Singapore to plug a social need for insurance in 1970, Income Insurance continues to put people first by serving the protection, savings and investment needs of individuals, families and businesses today. Its lifestyle-centric and data-driven approach to insurance and financial planning puts the company at the forefront of innovative solutions that empowers the people it serves with better financial well-being. Additionally, Income Insurance is committed to being a responsible business that champions the environment and builds stronger communities by supporting financial inclusion, education for youth-in-need and seniors’ well-being.
Germany Insurance & Asset Management Giant Allianz in Talks with Singapore Income Insurance Group in Potential Share Transaction, Income Insurance with $31 Billion Assets was Previously Known as NTUC Income Insurance Co-operative, Allianz Market Value at $108 Billion & Owns Leading Global Asset Managers PIMCO & Allianz Global Investors
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