NTUC Income Fact Sheet
NTUC Income was established in 1970 to provide essential affordable insurance for workers in Singapore.
Today, two million people in Singapore look to NTUC Income for trusted advice and solutions when making their most important financial decisions. Our wide network of advisers and partners provide life, health and general insurance products and services to serve the protection, savings and investment needs of customers across all segments of society.
Leading Insurer in Singapore
NTUC Income is a high performing organisation with a well balanced portfolio of products that maximises value for customers, excellent customer services, an effective multi channel distribution and a well respected brand. This makes us one of Singapore’s leading insurers.
In 2013, NTUC Income had over $31.3 billion in assets under management. Our financial strength and diversified investment portfolio is reflected by our strong credit ratings, “AA-” by Standards & Poor’s, which underpin the delivery of our commitment to customers.
We are ranked among the top insurers in the life insurance industry, including life and health insurance. We are also one of the largest general insurers. For motor insurance, we cover about one in four vehicles here.
As a homegrown insurer attuned to the needs of Singaporeans, we are committed to delivering Value and Honest Insurance to our customers.
Our belief is to strive for commercial leadership in our business to serve our social purpose. While we commit to making essential insurance affordable, accessible and sustainable to all, we will manage our business professionally and commercially with respect to pricing, underwriting, claim settlement, complaints handling and dealing with suppliers.
Leading by Example
NTUC Income believes that when it comes to protection, no one should be left behind. We introduced a range of differentiated products and services that exemplifies our social purpose. Some examples:
Equal opportunities for every child
In 2010, we launched OrangeAid, the flagship vehicle to help disadvantage children and youth in Singapore. Under OrangeAid, NTUC Income commits 1 per cent of its annual insurance operating profits to its 10 beneficiaries.
Motorists accident scene assistance
In 2011, we launched Orange Force to provide accident-scene assistance to our customers as well as protect them against inflated or fraudulent claims.
Insurance for the uninsured and underinsured
In 2012, we unveiled Value Pack to provide uninsured and underinsured Singaporeans and Permanent Residents with essential life and health insurance that would otherwise be less accessible to them.
In 2013, NTUC Income became the first insurer in Singapore to provide insurance coverage specially designed for children and young people with autism. SpecialCare (Autism) provides coverage to a segment that was previously uninsured.