Income Insurance serves about 1.7 million customers in Singapore, and is designated by the regulator as one of the four important insurers of the nation. It was established in 1970, and offers services in life, health, travel and home insurance, and savings and investments.
Income Insurance says it is in discussion with Allianz on a transaction relating to the shares of the company, the latest development in the recent deals involving the Singapore insurance sector.
The June 14 announcement follows a Bloomberg report from late-May stating Income Insurance is exploring options, including a possible tie up with a partner or selling a stake.
