SINGAPORE (July 1): Homegrown insurer Singapore Life has secured a US$90 million ($121.8 million) investment from Sumitomo Life Insurance Company, one of the largest life insurers in Japan.

Under the agreement, Sumitomo Life is acquiring 25% stake in Singapore Life.

Singapore Life says the investment will help accelerate its mobile-first ambitions and support its expansion plans in offering connected, insurance-led financial services for users.

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