Originally posted by alize:He was CEO for 30 years, NTUC Income wasn't worth $17 billion since day 1.
The thing is insurance industry is a poor cousin to other finance lines. Agents earn on commission year on year, sure alot of them earn more than salaried execs in insurance.
Furthermore, profit margin for NTUC's business (selling house, travel, motor, accident insurance) is low compared to commercial insurance. How much does one customer spend, and how much does the agent take compared to the company?
Whether or not he will be President, I am saying his CEO's pay was a laughing stock among insurance ppl.
Alize,
Please check your facts before you make the claim.
NTUC Income does not only sell general insurance (selling house, travel, motor,
accident insurance)
NTUC Income sells commercial insurance to companies, general insurance, health
insurance, life and annuity insurance, savings and investment policies and provide
financial plannings.
Please see the url link http://www.income.com.sg/index.asp
Mr Tan has managed to grow a $40 million asset NTUC in 1977 to a $17 billion asset NTUC when he retired from NTUC. The 2009 asset value of NTUC Income is $23.1 billions.
Will NTUC Income pay him a miserable (assuming last drawn salary) monthly income of $20k to $30k given that he grew the assets of NTUC Income by ($17 billions / $40 millions ) = 425 times ?
Originally posted by angel7030:
Hi,As a gal, i can hardly stand, some told me CMI is some Cimos isotopes in your 3rd grade chromosome 21 pair, CMI 21, so i thot you are some genetic guy, well, too bad, just a layman term.
Thanks
Well, I have no coomments to your reply. From your reply, it just shows....
Originally posted by Seowlah:Alize,
Please check your facts before you make the claim.
NTUC Income does not only sell general insurance (selling house, travel, motor,
accident insurance)
NTUC Income sells commercial insurance to companies, general insurance, health
insurance, life and annuity insurance, savings and investment policies and provide
financial plannings.
Please see the url link http://www.income.com.sg/index.asp
Mr Tan has managed to grow a $40 million asset NTUC in 1977 to a $17 billion asset NTUC when he retired from NTUC. The 2009 asset value of NTUC Income is $23.1 billions.
Will NTUC Income pay him a miserable (assuming last drawn salary) monthly income of $20k to $30k given that he grew the assets of NTUC Income by ($17 billions / $40 millions ) = 425 times ?
Wow I stand corrected. My whole company has ever served an NTUC client and we always laugh at TKL. Thanks.
Tan Kin Lian, please run! We will support you!