In the wake of the recent government block on the proposed Income-Allianz deal, the National Trades Union Congress (NTUC) has expressed unwavering support for the transaction, citing its alignment with the organization’s social mission and commitment to serving the interests of workers and policyholders. Even with the obstacle, NTUC still stands firm in its position and has reiterated its commitment to putting the well-being of its members first.
According to CNA, the NTUC supports the agreement because they believe that partnering with Allianz will provide strategic benefits and operational improvements for Income Insurance, helping the company achieve its goal of offering affordable insurance options to the public.
Desmond Tan, the deputy secretary-general of NTUC, highlighted the agreement’s significance in enhancing Income’s abilities and broadening its outreach to improve customer service for policyholders.
Tan reaffirmed the Income’s crucial importance in supporting its social mission, which involves providing inexpensive insurance plans and keeping premiums affordable for those with lower incomes.
Although the government paused the potential collaboration, NTUC is confident about future partnerships that align with its values and goals. The union is prepared to investigate other options that satisfy the authorities’ concerns while remaining dedicated to serving the community.
NTUC’s commitment to productive communication and teamwork with government officials after the parliamentary discussions highlights the organization’s dedication to finding solutions that benefit all stakeholders.
While NTUC, government officials, and other stakeholders continue their talks, the union remains firm in its backing of Income Insurance and its goal to offer vital insurance services that help the wider society.
In light of the difficulties brought about by recent events, NTUC remains resolute in its dedication to advocating for the well-being of its members and promoting its social projects in accordance with the changing demands of society.
In a Facebook post, NTUC secretary-general Ng Chee Meng also echoed that NTUC respects and accepts the Government’s decision that the transaction cannot proceed in its current form.
He added that NTUC’s focus on the well-being of workers remains unwavering, and it will continue to put workers first in all that they do.
