Hazel Poa questions Insurance Act amendment and misleading claims on Income Insurance sale скачать в хорошем качестве

Hazel Poa questions Insurance Act amendment and misleading claims on Income Insurance sale

In her parliamentary speech, Progress Singapore Party Non-Constituency Member of Parliament Hazel Poa expressed her support for the government's decision to stop the sale of Income Insurance to Allianz. However, she raised concerns about the rushed amendment to the Insurance Act to block the deal, warning that such actions could unsettle investors. Ms Poa questioned why existing laws weren't used to stop the transaction, as the Monetary Authority of Singapore (MAS) already has the discretion to reject applications for substantial shareholdings. She also highlighted what she perceived as misleading communication from NTUC and Income Insurance about capital resilience, calling for greater transparency. Despite reservations, Ms Poa stated that the PSP would support the bill to ensure the deal does not proceed in its current form.