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Proposed Insurance Co-op’s Sale to Allianz Stirs Singapore Unease
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Business/Economy

Proposed Insurance Co-op’s Sale to Allianz Stirs Singapore Unease

Minister says multibillion-dollar German giant’s US scandal is irrelevant to proposed Singapore deal

Aug 08, 2024
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Proposed Insurance Co-op’s Sale to Allianz Stirs Singapore Unease
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By: Toh Han Shih

The plan of the German insurer and asset manager Allianz Group to buy a majority stake in Singapore’s Income Insurance co-op has aroused opposition among Singaporeans including members of the city-state’s establishment and generated unusual debate in Parliament, signifying the sensitivity of selling off a home-grown entity entrusted with…

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