Singapore Life summons up $90m from Sumitomo

Jul 2, 2019 • Jack Hammond

Sumitomo Life Insurance acquired a stake sized at about 25%, in a deal that increased the online life insurance providers' total funding to $153m.

Singapore-based digital life insurance startup Singapore Life has received a $90m investment from insurance provider Sumitomo Life, The Business Times reported yesterday.

Sumitomo Life purchased approximately 25% of the company through the deal, which increased Singapore Life’s valuation to $358m, Singapore Life CEO Walter de Oude told the publication.

Founded in 2014, Singapore Life operates an online platform through which users can buy life insurance policies. It has also bought the business portfolio of Zurich Life Singapore.

The company has now…

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