NASDAQ-listed wealth and health firm, AGBA Group Holding Limited to acquire Sony Life Financial Advisers Pte Ltd in Singapore

2 months ago 73
  • AGBA Group signs agreement today to acquire Sony Life Financial Advisers Pte Ltd in Singapore
  • Acquisition is a key milestone for AGBA’s business and expansion beyond the Greater Bay Area into Southeast Asia

/EIN News/ -- Hong Kong and Singapore, April 05, 2023 (GLOBE NEWSWIRE) -- NASDAQ-listed AGBA Group Holding Limited “AGBA” today announced that it has entered into a sale and purchase agreement, dated 5 April 2023, to acquire Sony Life Financial Advisers Pte Ltd, a duly licensed financial adviser and insurance broker in Singapore. AGBA, together with its subsidiary, the “AGBA Group,” is a leading one-stop financial supermarket headquartered in Hong Kong.

Trusted by over 400,000 individual and corporate customers, the AGBA Group offers the broadest set of financial services and healthcare products in the Greater Bay Area in China. The AGBA Group has a unique collection of complementary businesses that blends market-leading businesses with emerging businesses models. It serves a large captive customer base, while at the same time unlocking growth through the introduction of innovative new wealth and health products and services through a variety of B2B and B2C distribution channels.

The latest acquisition marks a key milestone for AGBA; it is lucrative to its insurance and fintech businesses and expands access to key markets in Asia. While AGBA’s primary focus is in the Greater Bay Area in China, Singapore was selected for expansion due to the island nation’s position and reputation as a global center for innovation, business and finance. Ranked 10th place for average income by country, Singapore has is known to have one of the highest saving rates in the world.

Singapore is also home to one of the largest and fastest growing family office and wealth management centers in the world.  AGBA believes its advanced technology and infrastructure in wealth management will offer the industry compelling solution sets in the long run.

Yoshiki Moriyama Managing Director and CEO, Sony Life Financial Advisers Pte Ltd said “We are confident AGBA has the capabilities, resources and commitment to take SLFA to new heights. We will work together with AGBA to obtain regulatory and other approvals. As we do so, SLFA wi...

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