Aberdeen Standard Investments (ASI) has made a $13m minority investment in up-and-coming Asian digital life insurer Singapore Life.
The investment takes the group's strategic relationship with Singapore Life beyond purely managing its fiduciary assets, giving it a pivotal role in its long-term growth.
The digitally-focused life insurance company based in Singapore, aims to use its scalable platform and first mover advantage to become the South East Asian region's leading digital life insurer.
Martin Gilbert, co-chief executive of Aberdeen Standard Investments said: "As the asset management and insurance industries are in the midst of a digital transformation, technology innovation will become a key differentiator.
"Singapore Life exemplifies an innovator in providing customers with better financial solutions through advanced technology - this is a truly exciting opportunity for us to expand our strategic relationship with such a fast-growing digital life insurance provider and be part of its growth journey."
"Leveraging our strong heritage in Singapore and the breadth of our investment expertise located across the South East Asian markets, we are committed to building on our relationship and exploring new opportunities to bring our asset management expertise to a broader client base in the region."
Meanwhile, Walter de Oude, CEO of Singapore Life said the group was excited to have ASI as a strategic investor.
He said: "ASI is a leader in insurance asset management who brings not only strong investment expertise and brand credibility, but also deep insight into the challenges facing insurers and their clients globally.
"We look forward to working together as we grow our footprint in Singapore and beyond, and deliver on digital first journeys to customers via cutting edge technology."