Income Insurance commits $528m to climate investments

The insurer is working toward a S$1b climate transition financing target.

Income Insurance has committed $527.9m (S$945m) to green and climate-related investments as it works towards its $558.7m (S$1b) climate transition financing target, according to its 2025 Sustainability Report.

The Singapore insurer said it has also reduced financed emissions from its public assets portfolio by nearly 16% and cut weighted average carbon intensity by more than 38% from its 2022 baseline.

Income Insurance is targeting a 40% reduction in emissions intensity across its public assets portfolio by 2030, as part of its ambition to reach net zero by 2050.

It is also targeting a 30% reduction in emissions intensity per gross written premium in its private motor portfolio by 2030.

The insurer said it is supporting the transition to electric vehicles through its eDrivo Car Insurance, which provides 24/7 emergency mobile rescue if an EV runs out of charge in Singapore and parts of Malaysia.

The policy also covers accidental damage to public and private EV charging stations and certain incidents during overseas road trips.

Income Insurance is also increasing its focus on protection gaps linked to Singapore’s ageing population and rising healthcare costs.

In 2025, nine in 10 seniors who applied for the insurer’s life insurance products were offered coverage. The company also expanded access to its SilverCare personal accident plan for seniors and introduced Care Secure Pro, which provides long-term care protection.

The insurer committed $2.3m (S$4.2m) to multi-year community initiatives in 2025, covering areas including caregiver support, senior wellbeing and environmental sustainability.

It also partnered the National Council of Social Services to launch the $5.6m (S$10m) Income OrangeAid Caregiver Support Accelerator Grant.

The programme aims to strengthen the capabilities of social service agencies supporting caregivers.

Other initiatives include the Child Secure Project, which provides counselling support for children affected by a parent’s critical illness.

Internally, Income Insurance said 99% of employees completed mandatory training on data governance and responsible artificial intelligence in 2025.

($1.00 = S$1.79)