Allianz confirms withdrawal of offer for Income Insurance
ALLIANZ said it has withdrawn its pre-conditional offer to buy at least 51 per cent of the shares in Income Insurance.
“We respect the Singapore government’s decision,” Renate Wagner, the Allianz board member responsible for Asia-Pacific, said in a statement on Monday (Dec 16).
Singapore’s government announced at a Parliament sitting on Oct 14 reasons why the transaction could not proceed on its current terms.
Allianz said it remains committed to Singapore in the long term, given its high conviction in the potential of the city-state’s insurance market.
Copyright SPH Media. All rights reserved.
Originally published by businesstimes.com.sg. Syndicated material does not necessarily reflect the views of Grazia British.
More Fashion
LEESA ROWLAND From Hollywood to the Unknown: The Producer, Writer, Actress and Model Creating Her Own Next Chapter
Leesa Rowland has never been defined by just one role. Actress. Model. Writer. Producer. Author. Creative visionary. Philanthropist. Each title represents a different part of a career…
The Rise of Trevor Dutch: Strength, Style and Substance
From New York City to Europe’s Fashion Capitals, Trevor Dutch Is Bringing Strength, Sophistication, and Individuality to Every Frame In a city that never slows down, Trevor Dutch has…
Commentary: This year's Met Gala proved one thing: The real devil who wears Prada is Jeff Bezos
Apparently not content with bankrupting Sears, Toys R Us, Radio Shack and countless other businesses; buying and then maiming the Washington Post; and leading the Tech Bro right turn to…
Bald eagle 'massaging' its mate? AI deepfakes collide with the laws of the wild
Shadow gingerly places one taloned foot, then the other, on Jackie as she hunkers down on the nest. With Big Bear Lake glittering in the distance, he raises each foot in a kneading motion…