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In July 2024, the NTUC Enterprise co-operative gave an irrevocable undertaking to sell a majority 51% stake of Income Insurance Ltd to German insurer Allianz. [13]NTUC Enterprise Chairman Lim Boon Heng stated that "is a capital-intensive business and to grow, there is a need to tap the capital markets" and that the sale was necessary because the "strength of Allianz’s financial position will ...
He was appointed, as the Group Chief Executive at NTUC Enterprise on 1 October 2013. [1] Previously Tan was Chief Executive of NTUC Income Insurance Co-operative Limited in Singapore from February 2007 to September 2013. He has served as a member of the organization's Board of Directors since 2003. [2]
Tan ran NTUC Income with the aim of providing the best value to the policyholders. This meant lower fees for insurance agents, encouragement of direct selling practices which bypassed the agents altogether, [6] and low operating expenses—throughout his 30-year term as CEO, Tan flew in economy class, even on long haul flights. This management ...
The National Trades Union Congress (NTUC), also known as the Singapore National Trades Union Congress (SNTUC) internationally, is the sole national trade union centre in Singapore. NTUC leads the labour movement of Singapore , comprising 59 affiliated trade unions, 5 affiliated trade associations, 6 social enterprises, 6 related organisations ...
The NTUC Co-operative Commonwealth for Transport Limited ("COMFORT" or "NTUC Comfort") was hence formed by the NTUC as a social enterprise together with the affiliated NTUC Income and NTUC Welcome. [5] Comfort started operations in 1971 started with a fleet of 1,000 taxis, with the first taxis entering service at the end of January that year ...
In 2008, Speakers' Corner was the scene for meetings held over several weeks by Tan Kin Lian, former chief executive of insurance company NTUC Income, to advise people of their legal recourse after structured products they had purchased became virtually valueless upon the collapse of Lehman Brothers. [66]
On September 18, 2024,Chee argued for prioritizing citizens' welfare over corporate profits. He critiques the sale of NTUC income [96] and highlights the stark disparities between ministerial salaries and the struggles of many Singaporeans. Through personal reflections, Chee calls for a compassionate and equitable society, urging citizens to ...
In 2016, as part of a marketing campaign for NTUC Income, an insurance agency in Singapore, Lim announced she is retiring via her Instagram account. [16] The general public believed that she is retiring and the campaign drew backlash when she clarified during a press conference it was part of a marketing campaign and she is not retiring. [17]