Saturday, September 23, 2006

Media Release: Chief Executive Officer

NTUC Income wishes to announce that its CEO, Mr Tan Kin Lian, will be leaving the Cooperative on 1 April 2007 to pursue other interests. The Board of NTUC Income accepts his departure with regret.

Mr Tan, who joined NTUC Income on 1 April 1977 as its General Manager, would have completed 30 years of service on 1 April 2007.

During the past 30 years, Mr Tan has built a strong financial foundation for the Cooperative. From an asset base of $40 million in 1977, the Cooperative now has total assets exceeding $17 billion and annual premiums exceeding $2 billion. NTUC Income, rated "AA" by Standard & Poor's, is the highest rated insurance company from Asia.

The Board will be commencing a search for a new chief executive.

Mr Tan said, "It has been a great privilege for me to work in NTUC Income for the past 30 years. Time has passed so quickly. I enjoy working with many wonderful colleagues who shared the same passion and dedication to build a strong organisation that is dedicated to serve the interest of our 1,800,000 policyholders. I am confident that under a new leadership, my colleagues will be able to take NTUC Income through the next important stage of its development. I wish them well."

Mr Ng Kee Choe, Chairman of NTUC Income said, "Kin Lian has led the Cooperative well and built it to what it is today, the largest composite insurance company in Singapore. Members of the Board and I wish him well and every success in his future endeavours."

Karen Ng
Head (Media Relations)
NTUC Income
DID: 6877 3492
Hp : 9619 0912

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