Aberdeen Standard Investments (ASI) has made a US$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.
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 commented:
"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 added:
"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.”
Notes to editors
About Aberdeen Standard Investments
- Aberdeen Standard Investments is a leading global asset manager dedicated to creating long-term value for our clients, and is a brand of the investment businesses of Aberdeen Asset Management and Standard Life Investments. With over 1,000 investment professionals, we manage £557.1 billion, (USD 735.5bn)* of assets worldwide. We have clients in 80 countries supported by 50 relationship offices. This ensures we are close to our clients and the markets in which we invest. (*as at 30 June 2018)
- We are high-conviction, long-term investors who believe teamwork and collaboration are the key to delivering repeatable, superior investment performance.
- Aberdeen Standard Investments is the asset management business of Standard Life Aberdeen plc, one of the world’s largest investment companies.
- Standard Life Aberdeen plc is headquartered in Scotland. It has around 1.2 million shareholders and is listed on the London Stock Exchange. The Standard Life Aberdeen group was formed by the merger of Standard Life plc and Aberdeen Asset Management PLC on 14 August 2017.
Aberdeen Standard Investments is a brand of the investment businesses of Aberdeen Asset Management and Standard Life Investments.
The details contained here are for information purposes only and should not be considered as an offer, investment recommendation, or solicitation to deal in any investments or funds and does not constitute investment research, investment recommendation or investment advice in any jurisdiction.This communication is available for distribution by the following Aberdeen Asset Management affiliate:
Hong Kong by Aberdeen Standard Investments (Hong Kong) Limited. This document has not been reviewed by the Securities and Futures Commission.
Singapore by Aberdeen Standard Investments (Asia) Limited, Registration Number 199105448E.
In United Kingdom issued by Aberdeen Asset Managers Limited. Authorised and regulated by the Financial Conduct Authority in the United Kingdom. Registered Office: 10 Queen’s Terrace, Aberdeen AB10 1XL. Registered in Scotland No. 108419.
Standard Life Investments companies: Standard Life Investments Limited is registered in Scotland (SC123321) at 1 George Street, Edinburgh EH2 2LL. Standard Life Investments Limited is authorised and regulated in the UK by the Financial Conduct Authority.