Sumitomo Life

Japan’s Sumitomo Life acquires Singlife 35.48 percent stake for $1.21B

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.

Japan’s Sumitomo Life invests additional $133M in Singapore’s Singlife

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).