INCOME INSURANCE LIMITED
Business Overview
TrustScore Analysis
Our preliminary analysis has revealed key insights about INCOME INSURANCE LIMITED's performance and market presence. Here‘s a summary of our findings:
Positive highlights
Has been operational for a few years
Has a employer brand presence on career platforms
Negative highlights
- May not have contact information online
- No official business profile found on major search engines
Corporate Information
65110
Life insurance
General insurance (except marine and import, export & credit insurance)
Contact Information for INCOME INSURANCE LIMITED
INCOME INSURANCE LIMITED's Business Reviews
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Public Preview of INCOME INSURANCE LIMITED
This is only a preview of the TrustScore results for INCOME INSURANCE LIMITED, showcasing a few facets of its business that we have analysed.
Institutional Stage
A brand in the institutional-stage brand represents a mature entity that is systemically important, enduring and trusted. These brands are often listed entities, legacy corporations or quasi-government agencies that influence economies, policies, and long-term market trends.
Key Characteristics
- Scale & Systemic Importance: INCOME INSURANCE LIMITED operates at a national or potentially global level, holding significant influence and creating substantial economic impact in the life insurance sector.
- Longevity & Intergenerational Focus: With a legacy spanning 3 years since incorporation on 13 October 2021, INCOME INSURANCE LIMITED prioritises long-term strategic decisions, balancing profitability with sustainability and permanence.
- Trust as Core Currency: Public and investor confidence sacrosanct and non-negotiable. Operates with high transparency & governance, compliance and sovereign audits. Authority and leadership in policy making and market trends
- Hybrid Public-Private Role: May function as a state-linked or quasi-governmental entity, blending market discipline with public interest mandates and potentially engaging in nation-building projects - infrastructure, R&D, financial stability.
- Low Volatility, High Influence: Reputation forged over a long period and self sustaining, and less dependent on brand campaigns. As a highly influential decision-maker, INCOME INSURANCE LIMITED shapes industry standards, regulations, and economic trends
Why It Matters
- Institutional brands like INCOME INSURANCE LIMITED transcend commercial success, becoming pillars of economic and social architecture. Their strength lies in permanence, trust, and systemic value built over 3 years.
- INCOME INSURANCE LIMITED focuses on governance, legacy building, and multi-stakeholder trust, often becoming synonymous with national progress and stability in the life insurance sector.
The company's address is unique, providing a credible and exclusive business location. INCOME INSURANCE LIMITED has been operational for a few years, showing some level of stability. While it shows some level of stability, it may still be in the process of establishing its reputation and credibility.
INCOME INSURANCE LIMITED is registered on popular career platforms, showcasing job opportunities and employee testimonials. This presence suggests a professional approach to employee engagement and a commitment to building a positive employer brand.
The company is not blacklisted by CaseTrust, which is a positive indicator of its credibility. The company is not on the MAS Enforcement List, which is a positive indicator of its compliance with financial regulations.
INCOME INSURANCE LIMITED may not have accessible contact information online, which dilutes engagement and credibility. The company has no official business profile on major search engines. This absence makes it difficult for potential customers to verify the company's legitimacy or get in touch, potentially raising suspicions about its credibility.
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Associated News for INCOME INSURANCE LIMITED
NTUC Income co-op to become corporate entity amid 'intensifying headwinds' in insurance sector
NTUC Income on Thursday (Jan 6) announced plans to convert itself into a corporate entity, citing the need to be more competitive amid “intensifying headwinds” in the insurance sector. Currently a co-operative under the NTUC umbrella, the insurer said converting into a company governed by the Companies Act will allow it to “achieve operational flexibility and gain access to strategic growth options to compete on an equal footing with other insurers locally and regionally”. Its existing insurance business and assets will be transferred to a new company called Income Insurance Ltd. The transfer has been approved by the Monetary Authority of Singapore, said chief executive officer Andrew Yeo at a media briefing. Income has also registered the new company with the Accounting and Corporate Regulatory Authority.
6 January 2022
Plans afoot to turn insurance co-op NTUC Income into corporate entity; move won't affect existing policies
The move will mean that the new company, which will be called Income Insurance, would be governed by the Companies Act. This means that it would have no restriction on institutional investors holding corporate shares and have more flexibility in accessing capital to expand its business. For instance, shareholders of the new company would have one vote a share, unlike ordinary co-operative shareholders who hold only one vote regardless of the number of shares held. And, unlike co-operative shares, the value of the new company's shares will not be capped at par value, which is S$10 a share. Mr Yeo added that to preserve “co-operative identity”, institutional members of the proposed new corporation must be co-operatives and trade unions.
6 January 2022
NTUC Income co-op to convert to a company amid stiffer competition in insurance industry
Income has close to 700,000 IncomeShield policyholders, and ranks fourth in new business premiums from its health insurance business. The insurer serves more than two million policyholders in total. Income will transfer its existing insurance business and assets to the new company, Income Insurance Limited, and the co-op will then be liquidated. The proposed process will not change Income's organisational structure. Mr Yeo told a media briefing that NTUC Enterprise will remain the majority shareholder of the new company, which will continue to be part of its network of organisations. Income will organise an extraordinary general meeting to seek members’ approval for the proposed transfer and liquidation of the co-op. Existing institutional and ordinary members of Income who hold co-op shares will receive an equivalent number of shares in Income Insurance Limited, on a one-for-one basis, and their co-op shares will be cancelled.
6 January 2022
INCOME INSURANCE LIMITED has been in operation for 4 years since its incorporation in 13 October 2021 based on ACRA registration date. The business is registered with ACRA (Accounting and Corporate Regulatory Authority) under UEN 202135698W.
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