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British tycoon buys controlling stake in fintech Singapore Life

This brings Michael Spencer's holdings in the online-only insurer to 63.2%; this investment values Singapore Life at US$156m

Published Fri, Dec 7, 2018 · 09:50 PM

Singapore fintech

Singapore

FINTECH outfit Singapore Life has found a controlling shareholder in British tycoon Michael Spencer, who invested a further US$52.8 million into the Singapore-based, online-only insurer late this week, Singapore Life told The Business Times on Friday.

Mr Spencer, through his private investment vehicle IPGL, bought another 33.8 per cent stake in the insurtech firm from Chong Sing Holdings, a Hong Kong-based financial group.

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