Spencer’s investment company IPGL has acquired a 33.8 per cent stake in the startup from Chong Sing Holdings, a Hong Kong-based financial group, bringing his total stake to 63.2 per cent. The deal sees the Singaporean life insurance firm, which began operating last year, valued at $156m. In a joint statement confirming the deal, Spencer said he was “extremely impressed” by what Singapore Life chief executive Walter de Oude had achieved in a short space of time. “This is exactly the type of disruptive business we like to invest in, one that is making full use of technology to deliver key financial services to customers,” he said.

http://www.cityam.com/270261/michael-spencer-buys-52m-controlling-stake-singaporean-life