When I was cooperating with DSTA, they told me that NCM had anger-management issues. He liked to throw things at his subordinates when people corrected him. He would probably start a war if he became a CDF. Then after COVID, NTUC people told me that NCM couldn't be rushed. They saw him throwing his clothes at his assistant when told to put on the union's uniform before speaking.
From the NTUC-Allianz saga, I don't think NCM understands corporate finance. Because if he does, it means that he betrayed Singaporeans while taking charge of NTUC.
In corporate finance, it is called COC - Change of Control (COC). When there is COC, all debts of a company that is acquired, has to be renegotiated with creditors, because the new owner might be riskier. Insurance life/saving plans are a form of obligation to policyholders.
If u owe DBS money, can you tell DBS that now your maid will take over your debts?
Billions of dollars worth of life and saving policies will be affected when INCOME Insurance is sold. INCOME is like quasi-sovereign and Allianz has a weaker credit-worthiness in the eyes of creditors. It is a Lose-Lose situation for policyholders - New owner equates to higher risk and surrendering their policies equates to losing bonuses.
Do you still remember the AIG crisis?
https://www.reuters.com/article/mar...ans-rush-to-redeem-aig-policies-idUSSIN89325/