Singapore Blocks Allianz’s Proposed Acquisition of Income Insurance In a decisive move, the Singapore government has blocked Allianz SE’s proposed acquisition of a majority stake in Income Insurance Ltd., a deal valued at S$2.2 billion ($1.7 billion US). The decision comes after a public backlash and concerns over Income’s ability to continue fulfilling its social mission as a co-operative post-acquisition. Government Concerns Minister of Culture, Community and Youth, Edwin Tong, addressed parliament, stating that the transaction as it stands is not “in the public interest.” The acquisition would shift Income’s…
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Insurance policy for earnings taken out by Max Scherzer of the Detroit Tigers
The pitcher has covered himself for the remainder of the season after having turned down a contract extension. In spring training, Max Scherzer, pitcher for the Detroit Tigers, turned down a seven year contract for $144 million, causing many people to think that he was out of his mind, except that he has now taken out an earnings protection insurance policy in the case that he should become a free agent. This current American League Cy Young Award winner clearly has a plan in mind to protect his finances. News…
Read MoreNew subsidy for farmers has backing from lawmakers in the farm states
Lawmakers in the farm states are making efforts to form a brand new type of subsidy that would provide farmers with protection when they face a drop in revenue. This program is unprecedented and would provide farmers with billions of dollars in future support to farmers who are currently experiencing record breaking high prices for their crops. This free insurance subsidy would give farmers with the coverage they need for “shallow crop losses” that are incurred before their paid insurance policies become effective and has the support of soybean and…
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