Singlife’s acquisition of SG$11.8 billion (US$8.7 billion) of Aviva’s Singapore assets will boost its SG$800 million in assets and make it one of the largest life insurance companies in the city-state. It will gain 1.5 million customers, as well as a large pool of financial advisers. ambition is to expand beyond just the boundaries of insurance into broader financial services and to do that not only in Singapore but across Southeast Asia.
Singlife received its licence to operate in the Philippines. A digital-focused insurer, it initially focused on high net worth clients. In 2018, it acquired Zurich’s Singapore life business. As a publicly listed company of the future, that gives ownership of our firm to a much more broad-based community.