Singlife

Singapore insurer Singapore Life Holdings Pte Ltd (Singlife) announced Monday that it has become a fully owned subsidiary of Japan-based Sumitomo Life Insurance Company (Sumitomo Life).

Japan-based Sumitomo Life Insurance Company has entered into an agreement with TPG Inc. to acquire TPG’s 35.48 percent stake in Singapore Life Holdings Pte. Ltd. (Singlife) for SGD 1.6 billion ($1.21 billion). Together with the acquisition of additional stake in Singlife from Aviva Group, Singlife is expected to become a subsidiary of Sumitomo Life.

Singapore-based financial services company Singlife has launched the second edition of its in-house accelerator program, Singlife Connect. The accelerator program supports and spurs the growth of promising insurtech and budding ecosystem enterprises, Singlife said in a statement on Wednesday.

Singapore homegrown financial services company Singlife has on Wednesday announced Japanese insurance company Sumitomo Life Insurance Company (Sumitomo Life) has increased its investment in the company by way of a capital injection amounting to SGD 180 million ($132.64 million).