Income Insurance chairman Ronald Ong had recused himself when Morgan Stanley was appointed as the financial adviser as part of its recent deal with Allianz, the insurer said.
In a statement on July 27, the insurer said that of its 12 directors, 10 are independent.
"The full board, including all the independent directors, unanimously approved the transaction document entered into by Income Insurance in relation to the offer," the insurer added.
The statement comes as questions were raised about the appointment of the financial adviser.
Denne historien er fra July 29, 2024-utgaven av The Straits Times.
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Denne historien er fra July 29, 2024-utgaven av The Straits Times.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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