Tokio Marine Life Insurance Singapore unveils new financial advisory subsidiary

Tokio Marine Life Insurance Singapore unveils new financial advisory subsidiary | Insurance Business Asia

Insurance News

Tokio Marine Life Insurance Singapore unveils new financial advisory subsidiary

New business expected to enhance service offerings

Insurance News

By
Roxanne Libatique

Tokio Marine Life Insurance Singapore Ltd (TMLS) has announced the establishment of its financial advisory subsidiary, Tokio Marine Financial Advisers (Singapore) Private Limited (TMFAS), as of April.

This expansion aims to deliver a comprehensive range of financial planning and wealth management services to clients.

TMFAS, a subsidiary of Tokio Marine Life Insurance Singapore Ltd, provides financial advisory services.

It focuses on building strong client relationships and delivering customised financial solutions for insurance, wealth creation, and retirement planning. It is licensed and regulated by the Monetary Authority of Singapore (MAS).

The introduction of TMFAS enables TMLS to enhance its service offerings, providing a more cohesive and integrated approach to financial services.

Clients now have access to a broader array of financial planning and wealth management options, supported by the credibility of a well-established insurer.

Jun Tokura, deputy CEO of TMLS, said the newly established subsidiary combines the best that TMLS and its partners have to offer.

“We are grateful for our dedicated advisors, who continue to deliver a high quality of service following the transition. TMLS also extends our heartfelt gratitude to our clients for their trust and support,” he said.

“We are proud to respond to clients’ concerns and to serve their financial needs holistically at TMFAS,” said Cheong Kum Foo, CEO of TMFAS. “We will continue to seek opportunities to expand our product and solution offerings and enhance our advisory capabilities to better support our clients on their financial planning and wealth management journey.”

TMLS is part of the Tokio Marine Holdings, Inc, which was established as Japan’s first insurance company over 140 years ago.

Tokio Marine targets international insurance acquisitions

Tokio Marine has grown into one of the world’s largest insurance groups, with operations in 46 countries and regions and a workforce exceeding 40,000 employees. In March, the group confirmed its plans to expand, with a budget of up to US$10 billion for overseas acquisitions.

“Something we could do relatively easily would be in the US$10 billion range,” he said. “North America is the biggest insurance market in the world, there are going to be opportunities there, there are opportunities in Asia and Europe, Canada, and Australia. We have aspirations to grow our business in all of those locations.”