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Income will keep premiums affordable for policyholders: Ng Chee Meng

03:40 Min

National Trades Union Congress Secretary-General Ng Chee Meng says its social mission will not change. He pledges to hold Income Insurance to its commitment of keeping two of its low-cost insurance schemes affordable. NTUC says Income Insurance's market share has declined in the past 10 years and German insurer Allianz's offer would help secure additional capital. It adds that NTUC Enterprise will retain a substantial stake in Income, and Allianz will commit to honouring Income's existing insurance programmes and charity commitments.

National Trades Union Congress Secretary-General Ng Chee Meng says its social mission will not change. He pledges to hold Income Insurance to its commitment of keeping two of its low-cost insurance schemes affordable. NTUC says Income Insurance's market share has declined in the past 10 years and German insurer Allianz's offer would help secure additional capital. It adds that NTUC Enterprise will retain a substantial stake in Income, and Allianz will commit to honouring Income's existing insurance programmes and charity commitments.

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