Tag: Singapore

25May mmBy Mike TrudellNo Comments
Asia, Market, Singapore

Singapore life insurance sales rise 10% amid Coronavirus scare

While Coronavirus has destroyed many lives and economies, Singapore's life insurance industry saw new business, in terms of total weighted premiums, grow 10 per cent to $965.8 million for the first quarter from January to March 2020.A year ago, total weighted premiums amounted to $877.8 million.“This comes as more consumers took action to secure their financial future in view of Covid-19's drastic impact on the global and local markets”, said the Life Insurance Association (LIA), Singapore."However, with circuit-breaker measures, climbing unemployment and an impending recession, the life insurance industry may see the knock-on effect in the coming quarters," LIA president Khor Hock Seng said.Sales of annual-premium policies grew 3 per cent year on year, resulting in $672.4 million in total...
Read More
Vickers Venture Partners tapping South Korean institutional investors
19May By Desk TeamNo Comments
Singapore

Vickers Venture Partners tapping South Korean institutional investors

Singapore-based venture capital firm Vickers Venture Partners, a Singapore is tapping South Korean institutional investors in the second round of fundraising to attract up to $500 million for its sixth fund.The company has recently submitted an investment proposal to Korea Growth Investment Corp., a fund of funds manager investing in startups and small businesses. The VC firm is aggressively marketing the fund to domestic institutions investing in overseas venture capital funds.Vickers has hit its first close of the new fund at $300 million, or 60% of its target amount. Korea Venture Investment Corporation, another fund of funds manager, committed $16 million in the first round of fundraising.“There are a number of deep-tech startups in South Korea where we can invest,” a Vickers source sa...
Read More
15May By Desk TeamNo Comments
Asia, Singapore

Singapore-based startup plans to make mental health approachable

Intellect, a Singapore-based startup, has decided to make the idea of mental health more approachable with an app that offers self-guided exercises based on cognitive behavioral therapy techniques. The company develops consumer and enterprise versions of the app (for employers to offer as a benefit) and now has users in several countries, including Singapore, Indonesia, India and China. Since its beta launch earlier this year, co-founder and CEO Theodoric Chew says Intellect has signed up about 10,000 users, as well as 10 companies ranging in size from startups to large corporations. The startup plans to launch Mandarin and Bahasa Indonesian versions, and is currently working with researchers to develop localized versions of its exercises, which include guided journaling, behavioral exerci...
Read More