German insurer Allianz to consider revising multi-billion Income offer after current deal blocked by Singapore govt

Income and its parent NTUC Enterprise also said that they will work closely with relevant stakeholders to decide on the next course of action. - ST PHOTO: SHINTARO TAY

SINGAPORE (The Straits Times/ANN): German insurer Allianz said late on Monday that it will consider revisions to the proposed transaction structure to acquire a majority stake in Singapore’s Income Insurance.

This comes after the Singapore Government blocked the deal on concerns over the deal structure and the ability of the local insurer to continue its social mission.