Do you know, the top 1% control more than 30% of all wealth now? Today’s case study is SINGLIFE who is Singapore’s newest homegrown insurer.
In June2017, Singlife launches products to the markets In april2017, they raised $50m in Series A funding. In Jan2018, Singlife bough Zurich Life’s portfolio in Singapore In Start Dec2018, Michael Spencer buys 33.8% for US$52.7m In End Dec2018, Aflac buys minority stake valuing Singlife at more than US$200m Customer base is about 9,500 In July 2019, Sumitomo buys 25% stake valuing Singlife at US$358m
In Mar2020, Singlife created a SINGLIFE ACCOUNT and gotten 100,000 downloads HOW TO OPEN SINGLIFE ACCOUNT: https://www.theastuteparent.com/2020/…
Sign up SINGLIFE account today to begin earning up to 2.5% p.a.* returns with your savings: https://app.singlife.com/02EsMxoudab In Sep2020, #Singlife will merge with AVIVA in an acquisition by Singlife’s shareholders.
3 key lessons 1) Transformative businesses are the fastest way to grow wealth 2) Be Patient (years) if you want to start a business 3) Wealth must be shared to grow exponentially.