Singlife, a financial services company from Singapore, announced a significant capital injection today.
The company, known as the exclusive insurance provider for the Ministry of Defence, Ministry of Home Affairs, and Public Officers Group Insurance Scheme in Singapore, has received a robust vote of confidence in the form of a SGD $179,999,996 ($132m) investment from Sumitomo Life Insurance Company.
The fresh funds will be channelled towards accelerating Singlife’s business growth. Singlife is at the forefront of providing a broad array of insurance, employee benefits, and savings products and services. It also offers investment and advisory solutions via its innovative GROW with Singlife platform, as well as the user-friendly Singlife Account and app.
The issue comprises of 23,684,210 new shares, equating to 4.92% of the increased share capital.
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