Weekly Digest: Singapore blocks Income Insurance-Allianz deal; PGGM hands Japan property mandate to abrdn
Singapore government halts $1.7 billion insurance sector merger deal; Dutch pension fund hands Japanese real estate mandate to abrdn; HK government ties up with Bloomberg to attract family offices; NSSF posts positive return for 2023; and more.
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The Singapore government will block a proposed S$2.2 billion ($1.7 billion) deal by Allianz SE to buy a majority stake in a homegrown insurance firm, three months after the transaction sparked a public backlash.
The government decided it wouldn’t be “in the public interest” for the Income Insurance Ltd. deal to proceed in its current form, Minister of Culture, Community and Youth Edwin Tong told parliament on Monday.
The city-state isn’t satisfied that Inc…
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