Aflac Makes $20 Mln Minority Equity Investment In Singapore Life Pte

(RTTNews) - Aflac Inc. (AFL) announced that it has made a $20 million minority equity investment in Singapore Life Pte. Ltd., a digitally-focused life insurance company based in Singapore.

In addition, the company said that its operating subsidiary American Family Life Assurance Company of Columbus plans to enter into a reinsurance agreement on certain protection products with Singapore Life.

CEO of Singapore Life Walter de Oude said, "We are excited to have Aflac as both an investor in Singapore Life and a partner, given the strength of Aflac's brand, the credibility that it brings, and their leadership in the areas of cancer insurance and other supplemental medical policies. We look forward to working with Aflac as we continue to grow Singapore Life's range of financial services that our customers are seeking."