Aberdeen Standard Investments has taken a $13m stake in Singapore-based life insurer Singapore Life.
The investment extends Aberdeen Standard Investment's (ASI) strategic relationship with Singapore Life beyond the management of its investment assets.
This will allow (ASI) to participate in the long-term growth of the next generation life insurance company as it expands its business further across South East Asia.
The Aberdeen Standard Investments' (ASI) subscription of $13m as a minority equity partner follows the recent Aflac Investment of $20m, and brings the total capital raised to date to $97m.
Singapore Life is the first fully digital insurer in Singapore and says it aims to use its scalable platform and first mover advantage to become the leading digital insurer in South East Asia.
Martin Gilbert, co-chief executive, 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."
ASI manages £557.1bn of assets worldwide. The firm has clients in 80 countries supported by 50 relationship offices.