Aberdeen Standard in Singapore Life investment

Martin Gilbert

Edinburgh-based investment giant Aberdeen Standard Investments (ASI) has made a $13 million minority equity investment in Singapore Life Pte. Ltd., a digitally-focused life insurance company based in Singapore.

“The investment extends ASI’s strategic relationship with Singapore Life beyond the management of its fiduciary assets, allowing it to participate in the long-term growth of the next generation life insurance company as it expands its business across the South East Asian region,” said Aberdeen Standard.

“Singapore Life is the first fully digital insurer in Singapore.

“Its aim is to use its scalable platform and first mover advantage to become the leading digital life insurer in South East Asia.”

Martin Gilbert, co-chief executive, Aberdeen Standard Investments, said: “As the asset management and insurance industries are in the midst of a digital transformation, technology innovation will become a key differentiator.

“Singapore Life exemplifies an innovator in providing customers with better financial solutions through advanced technology – this is a truly exciting opportunity for us to expand our strategic relationship with such a fast-growing digital life insurance provider and be part of its growth journey.”

Hugh Young, Head of Asia Pacific, Aberdeen Standard Investments, said: “As a long-term investor, we see great potential in Singapore Life to continue disrupting the traditional insurance market and building market share.

“Leveraging our strong heritage in Singapore and the breadth of our investment expertise located across the South East Asian markets, we are committed to building on our relationship and exploring new opportunities to bring our asset management expertise to a broader client base in the region.”

Walter de Oude, CEO of Singapore Life said: “We are excited to have Aberdeen Standard Investments as a strategic investor.

“ASI is a leader in insurance asset management who brings not only strong investment expertise and brand credibility, but also deep insight into the challenges facing insurers and their clients globally.

“We look forward to working together as we grow our footprint in Singapore and beyond, and deliver on digital first journeys to customers via cutting edge technology.”

About the Author

Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.