Under the deal, Sumitomo Life will buy asset manager TPG’s 35% stake in Singlife for S$1.6bil. — The Straits Times
SINGAPORE: In one of the largest insurance deals in the region, Japanese insurer Sumitomo Life Insurance is offering to fully acquire local insurer Singapore Life Holdings (Singlife), valuing it at S$4.6bil (US$3.46bil).
Under the deal, Sumitomo Life will buy asset manager TPG’s 35% stake in Singlife for S$1.6bil. It will also offer to acquire the shares of minority investors.
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