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Zurich Insurance to sell Singapore life assurance business

Reuters Published on Tue, Jan 09, 2018 / 8:27 AM GMT+8

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(Jan 9): Zurich Insurance is selling its Singapore life assurance business, with policies providing US$4.5 billion ($6.0 billion) of coverage, to Singapore Life as part of the Swiss group’s overhaul under Chief Executive Mario Greco.

Singapore Life said it will become responsible for all the life, critical illness and disability policies of Zurich Life Singapore customers in the Asian country, with the transfer expected to be completed in the first half of 2018.

Terms of the deal were not disclosed.

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