29:
1055:
199:
In April 2010, NTUC Income launched the Income Family Micro-Insurance and
Savings Scheme (IFMISS), a free insurance scheme for low-income households with young children. In August 2013, NTUC Income became the first insurer in Singapore to provide insurance coverage specially designed for children
206:
On 6 January 2022, NTUC Income announced it would be restructured from a cooperative to a company and rebranded as Income
Insurance Ltd, amid stiff competition in the insurance industry, with no changes to staff and existing policyholders' coverage. NTUC Enterprise would remain the majority
186:
The idea of co-operatives, also known as social enterprises, was first conceived at NTUC's
Modernisation Seminar in 1969, where delegates from NTUC-affiliated unions gathered to discuss the challenges Singaporean workers were facing. Then, Singapore was a developing nation with a population
200:
with autism. The plan provides coverage for medical expenses from accidents and infectious diseases. In
December 2014, NTUC Income expanded its insurance coverage for the special-needs community when it unveiled SpecialCare (Down Syndrome).
195:
supported this and urged NTUC to set up social enterprises in areas such as life insurance and essential consumer goods to meet the needs of the working population. NTUC Income was established in 1970.
260:
1077:
493:
1092:
346:
210:
In July 2024, it was announced that NTUC Enterprise co-operative gave an irrevocable undertaking to sell a majority 51% stake of Income
Insurance Ltd to German insurer
373:
320:
398:
203:
In 2021, NTUC Income also expanded to
Indonesia, Malaysia, and Vietnam with partnerships in those countries, operating by an insurance-as-a-service model.
1082:
191:, articulated the need for the labour movement to turn into a social institution to serve Singaporean workers in various ways. Then-Finance Minister
450:
486:
982:
829:
691:
178:
Currently, it has seven branches and lite branches respectively across
Singapore, as well as operations in Indonesia, Malaysia, and Vietnam.
646:
1058:
631:
291:
305:
701:
479:
992:
246:
1046:
862:
636:
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175:(NTUC), it was restructured as a public non-listed company limited by shares in 2022 as part of a corporatization exercise.
172:
1012:
857:
546:
1087:
882:
541:
892:
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937:
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1002:
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661:
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997:
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799:
676:
671:
596:
551:
774:
374:"NTUC Income co-op to become corporate entity amid 'intensifying headwinds' in insurance sector"
907:
887:
616:
571:
321:"NTUC Income to expand digital offerings to Indonesia, Vietnam, Malaysia through partnerships"
844:
471:
187:
comprising mostly blue-collar and low income workers. One of the founding leaders of NTUC,
621:
347:"NTUC Income co-op to convert to a company amid stiffer competition in insurance industry"
231:
28:
932:
399:"NTUC Income Corporatises to Further Strengthen Its Competitiveness for Long-term Growth"
922:
819:
794:
764:
749:
591:
1071:
1017:
977:
927:
912:
867:
789:
724:
566:
556:
192:
942:
651:
581:
451:"Allianz offers to buy at least 51% of Income Insurance at $ 40.58 a share in cash"
987:
897:
809:
507:
168:
824:
814:
784:
744:
709:
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207:
shareholder. The corporatisation exercise was completed on 1 September 2022.
188:
1007:
852:
576:
503:
424:
164:
83:
79:
49:
113:
Life, health, and general insurance, savings and investment-linked products
1027:
972:
917:
779:
759:
601:
523:
87:
1032:
1022:
754:
719:
611:
292:"Income launches insurance plan for children, young adults with autism"
211:
91:
167:, offering life, health and general insurance. Initially founded as a
967:
769:
586:
39:
734:
714:
561:
536:
531:
306:"Income starts insurance policy for Down Syndrome children, youth"
119:
686:
681:
475:
739:
125:
137:
278:"Income's free insurance scheme to cover more families"
955:
843:
700:
522:
515:
132:
117:
109:
97:
73:
55:
45:
35:
1078:Financial services companies established in 1970
247:"Unions to map out new strategy to check slide"
487:
8:
21:
1054:
519:
494:
480:
472:
27:
20:
1093:Singaporean companies established in 1970
345:Ang, Prisca; Tan, Sue-Ann (2024-07-17).
249:. The Straits Times. November 15, 1969.
223:
983:General Insurance Corporation of India
830:Varma Mutual Pension Insurance Company
692:Western & Southern Financial Group
425:"We are now Income Insurance Limited"
7:
647:Ohio National Life Insurance Company
1059:List of largest insurance companies
632:Nationwide Mutual Insurance Company
280:. Channel NewsAsia. March 19, 2014.
261:"The NTUC Social Enterprise Story"
163:, is a composite insurer based in
14:
993:Instituto de Resseguros do Brasil
1083:Insurance companies of Singapore
1053:
372:Tang, See Kit (6 January 2022).
308:. TODAYonline. December 5, 2014.
863:China Pacific Insurance Company
637:New York Life Insurance Company
319:Ang, Jolene (28 October 2021).
294:. TODAYonline. August 15, 2013.
173:National Trades Union Congress
1:
159:and previously also known as
16:Singaporean insurance company
1013:Reinsurance Group of America
858:China Life Insurance Company
547:American International Group
234:. Income. December 31, 2021.
232:"2021 Financial Statements"
61:; 54 years ago
1109:
883:Life Insurance Corporation
449:Tan, Angela (2024-07-17).
266:. NTUC. February 15, 2015.
1041:
893:MS&AD Insurance Group
542:American Family Insurance
26:
429:Income Insurance Limited
153:Income Insurance Limited
1049:ranking by Total Assets
657:Progressive Corporation
938:Taikang Life Insurance
835:Zurich Insurance Group
730:Assicurazioni Generali
103:Ronald Ong (Chairman)
878:Kyobo Life Insurance
662:Prudential Financial
155:, commonly known as
805:RSA Insurance Group
642:Northwestern Mutual
627:National Life Group
23:
1088:Singaporean brands
998:Korean Reinsurance
963:Arch Capital Group
873:Great Eastern Life
800:Royal London Group
677:UnitedHealth Group
672:Sun Life Financial
597:Markel Corporation
552:Berkshire Hathaway
171:in 1970 under the
1065:
1064:
1051:
1003:Lloyd's of London
951:
950:
908:Ping An Insurance
888:Meiji Yasuda Life
617:Mutual of America
572:CUNA Mutual Group
455:The Straits Times
351:The Straits Times
325:The Straits Times
150:
149:
1100:
1057:
1056:
1043:
933:T&D Holdings
903:Income Insurance
520:
496:
489:
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473:
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405:. 6 January 2022
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105:Andrew Yeo (CEO)
69:
67:
62:
31:
24:
22:Income Insurance
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1061:
1052:
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947:
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775:Mutua Madrileña
696:
622:Mutual of Omaha
511:
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923:SOMPO Holdings
920:
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797:
795:Prudential plc
792:
787:
782:
777:
772:
767:
762:
757:
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750:CNP Assurances
747:
742:
737:
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717:
712:
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695:
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689:
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654:
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629:
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619:
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592:Liberty Mutual
589:
584:
579:
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57:
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15:
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1045:Methodology:
1040:
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1021:
1019:
1018:RenaissanceRe
1016:
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986:
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978:Everest Group
976:
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944:
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936:
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929:
928:Sumitomo Life
926:
924:
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916:
914:
913:QBE Insurance
911:
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868:Dai-ichi Life
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790:Phoenix Group
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567:CNA Financial
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193:Goh Keng Swee
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34:
30:
25:
19:
1044:
943:Tokio Marine
902:
652:Pacific Life
582:The Hartford
459:. Retrieved
454:
444:
432:. Retrieved
428:
419:
407:. Retrieved
402:
393:
381:. Retrieved
377:
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355:. Retrieved
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328:. Retrieved
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209:
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185:
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160:
156:
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151:
128:47.2 billion
120:Total assets
36:Company type
18:
988:Hannover Re
956:Reinsurance
898:Nippon Life
810:Sampo Group
765:LähiTapiola
508:reinsurance
457:. SPH Media
403:NTUC Income
353:. SPH Media
169:cooperative
161:NTUC Income
75:Area served
1072:Categories
825:Swiss Life
815:Storebrand
785:Old Mutual
710:Aegon N.V.
667:State Farm
607:MassMutual
461:2024-07-26
434:6 November
409:6 November
218:References
189:Devan Nair
99:Key people
1008:Munich Re
853:AIA Group
577:FM Global
516:Insurance
510:companies
504:insurance
383:6 January
330:6 January
165:Singapore
84:Indonesia
80:Singapore
50:Insurance
1028:Swiss Re
973:China Re
918:Singlife
780:NN Group
760:Groupama
602:Manulife
524:Americas
110:Products
88:Malaysia
46:Industry
1033:TransRe
1023:SCOR SE
755:Folksam
745:Bâloise
720:Allianz
612:MetLife
357:26 July
212:Allianz
182:History
140:.income
133:Website
92:Vietnam
64: (
56:Founded
968:Axa XL
770:Mapfre
587:Humana
502:Major
157:Income
40:Public
735:Aviva
715:Ageas
562:Cigna
557:Chubb
537:Ambac
532:Aflac
264:(PDF)
1047:SWFI
845:APAC
820:Suva
702:EMEA
687:USAA
682:Unum
506:and
436:2022
411:2022
385:2022
359:2024
332:2022
142:.com
66:1970
59:1970
740:Axa
725:Aon
378:CNA
144:.sg
138:www
126:S$
1074::
453:.
427:.
401:.
376:.
349:.
323:.
214:.
90:,
86:,
82:,
495:e
488:t
481:v
464:.
438:.
413:.
387:.
361:.
334:.
236:}
68:)
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
