Credit China FinTech and IPGL led the round and Singapore Life has applied to the Monetary Authority of Singapore (MAS) for a direct life insurance license, and intends to offer universal life products, standalone term insurance with associated riders, investment linked plans and wrappers, as well as endowment assurance.
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Life insurance startup Singapore Life raises S$70 mil in funding
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Singapore Life has applied to the Monetary Authority of Singapore (MAS) for a direct life insurance license, and intends to offer universal life products, standalone term insurance with associated riders, investment linked plans and wrappers, as well as endowment assurance. Based on a filing to the Hong Kong Stock Exchange on Wednesday by Credit China FinTech, Impact Capital has agreed to subscribe for new shares of Singapore Life at US$21.3 million together with Ever Step, a direct wholly-owned subsidiary of Credit China FinTech.
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