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AIA Singapore Files $6.6 Million (S$8.45 Million) Lawsuit Against Qiren Organisation Insurance Agent Lin Qiren for Use of AIA Agency Offices in Singapore after Failing to Meet Pre-Agreed Sales Target of Insurance & Financial Products Which Will Require Payment for Use of AIA Agency Offices, Qiren Organisation was Authorized Representative of AIA Singapore, Contracts Were Signed in 2018 & 2021, Lin Qiren Claims AIA Penalty Formulas as Extravagant, Disputed Calculations & Impacted by COVID-19 Restrictions, Lin Qiren Counterclaims $530,000 (S$674,000+) for Commissions, Interests & Costs
4th February | Hong Kong
AIA Singapore has filed a $6.6 million (S$8.45 million) lawsuit against Qiren Organisation insurance agent Lin Qiren for use of AIA agency offices in Singapore, after Lin Qiren failed to meet pre-agreed sales target of insurance & financial products which will require payment for use of AIA agency offices. Qiren Organisation was authorized representative of AIA Singapore, and the contracts were signed in 2018 & 2021. Lin Qiren claims AIA penalty formulas as extravagant, disputed calculations & was impacted by COVID-19 restrictions. Lin Qiren counterclaims $530,000 (S$674,000+) for commissions, interests & costs.
“ AIA Singapore Files $6.6 Million (S$8.45 Million) Lawsuit Against Qiren Organisation Insurance Agent Lin Qiren for Use of AIA Agency Offices in Singapore after Failing to Meet Pre-Agreed Sales Target of Insurance & Financial Products Which Will Require Payment for Use of AIA Agency Offices, Qiren Organisation was Authorized Representative of AIA Singapore, Contracts Were Signed in 2018 & 2021, Lin Qiren Claims AIA Penalty Formulas as Extravagant, Disputed Calculations & Impacted by COVID-19 Restrictions, Lin Qiren Counterclaims $530,000 (S$674,000+) for Commissions, Interests & Costs “
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AIA Singapore Files $6.6 Million (S$8.45 Million) Lawsuit Against Qiren Organisation Insurance Agent Lin Qiren for Use of AIA Agency Offices in Singapore after Failing to Meet Pre-Agreed Sales Target of Insurance & Financial Products Which Will Require Payment for Use of AIA Agency Offices, Qiren Organisation was Authorized Representative of AIA Singapore, Contracts Were Signed in 2018 & 2021, Lin Qiren Claims AIA Penalty Formulas as Extravagant, Disputed Calculations & Impacted by COVID-19 Restrictions, Lin Qiren Counterclaims $530,000 (S$674,000+) for Commissions, Interests & Costs
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