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Allianz offer for Income Insurance sparks concerns among some Singaporeans
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Allianz has given assurances that it intends for Income to continue participation in national insurance programmes, including the IP plans.
PHOTO: ST FILE
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SINGAPORE - Allianz’s plans to buy a majority stake in Income Insurance have sparked concerns among some Singaporeans over their health insurance plans tied to Income, despite the German insurer’s assurances that there will be no change to national insurance programmes.
They also fear that Income’s original social values and mission to provide coverage for lower-income groups will no longer apply once Germany-listed Allianz takes a controlling stake, spelling an end to affordable insurance coverage.
