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BREAKING: Allianz Is Said to Make Offer for Singapore’s Income Insurance

Chase

Chase

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Allianz Is Said to Make Offer for Singapore’s Income Insurance​

https://www.bloomberg.com/news/arti...o-make-offer-for-singapore-s-income-insurance

Allianz SE is considering making an offer to buy up to 51% of Singapore-based Income Insurance Ltd., people familiar with the matter said.

A deal involving Europe’s biggest insurer could be announced as soon as Wednesday, the people said, asking not to be identified as the information isn’t public.
 
The EU is in economic decline
So Allianz SE is not the same as before.
Not a good idea for Sinkies to be insured by Allianz.
 
Byebye Penis said:
FRANKFURT, July 17 (Reuters) -Germany's Allianz ALVG.DE said on Wednesday that it was planning to buy a majority stake in Singapore's Income Insurance for around US$1.6 billion.

Allianz said it would offer 40.58 Singapore dollars per share for a transaction value of 2.2 billion Singapore dollars (US$1.64 billion).

https://uk.finance.yahoo.com/news/allianz-plans-buy-majority-stake-053251021.html
Click to expand...
S$2.2 billion for a majority stake NTUC sounds quite cheap. NTUC Income must be very heavily indebted.
In perspective, S$2.2 billion is like 3-months of DBS profits.

OCBC just paid Great Eastern at S$1.4 billion for 11.56% of Great Eastern shares that it doesn't own, valuing Great Eastern at over S$12 billion.
 

Allianz to become a leader in Singapore insurance market with planned acquisition of majority stake in Income Insurance​

Allianz SE | Munich | Jul 17, 2024
  • Allianz to acquire at least 51 percent of the shares in leading insurer Income Insurance
  • Acquisition in fast-growing Singapore insurance market would catapult Allianz from the ninth to the 4th largest composite insurer in Asia
  • Transaction subject to regulatory approval
Today Allianz – through its wholly owned subsidiary Allianz Europe B.V. – announced a pre-conditional voluntary cash general offer to acquire at least 51 percent of the shares in leading Singapore insurer Income Insurance, subject to regulatory approval.

Income Insurance is deeply rooted in its home market, is a trusted household name and serves approx. 2 million policyholders with a full range of Property-Casualty, Health and Life products distributed via agents and financial advisors as well as through bancassurance and direct channels.

Allianz intends to offer SGD 40.58 per share for a total transaction value of approx. SGD 2.2 billion (approx. EUR 1.5 billion) for 51 percent of the shares in Income Insurance. The transaction is expected to generate a double-digit Return on Investment for Allianz in the mid-term. Closing is expected in the fourth quarter of 2024 or in the first quarter of 2025.



https://www.allianz.com/en/press/ne...on-of-majority-stake-in-income-insurance.html
 
Patriotmissile said:
Alllianz is the most fucked up german financial co.
Click to expand...
Along the way , we will be selling off everything… our power station .. taken over by Malaysian conglomerates..YTL .. n soon our airport with 5 terminals will also be on the market .. maybe one or two terminals will be offered first.
 
blissquek said:
Along the way , we will be selling off everything… our power station .. taken over by Malaysian conglomerates..YTL .. n soon our airport with 5 terminals will also be on the market .. maybe one or two terminals will be offered first.
Click to expand...
In my industry, Income insurance is the provider of 2 of 3 types of Class B2/C Plans
https://www.moh.gov.sg/healthcare-s...ld-life/comparison-of-integrated-shield-plans
1. MediShield Life
2. Income IncomeShield Plan C*
3. Income Enhanced IncomeShield C*
 
blissquek said:
Along the way , we will be selling off everything… our power station .. taken over by Malaysian conglomerates..YTL .. n soon our airport with 5 terminals will also be on the market .. maybe one or two terminals will be offered first.
Click to expand...


n 2002, the Macquarie Bank bought a 99-year lease on the airport for $5.6 billion. The company was known as Macquarie Airports as a combination of trusts managed by Macquarie Group until it was spun off in 2009 to form MAp Airports.
 
blissquek said:
n 2002, the Macquarie Bank bought a 99-year lease on the airport for $5.6 billion. The company was known as Macquarie Airports as a combination of trusts managed by Macquarie Group until it was spun off in 2009 to form MAp Airports.
Click to expand...
If Aussie can sell . No reason why Singapore cannot sell ..!!!
 
Can ask Allianz to tear down that shitty Sinkie stadium and build a proper stadium.

Singapore_Singapore-Sports-Hub-with-National-Stadium-01.jpg

Allianz-Arena-Munich-Germany.jpg
 
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