SINGAPORE, 9 October 2023 – Singlife, a leading homegrown financial services company, has appointed Ortec Finance, a globally recognised provider of investment decision technology and solutions, as its strategic asset allocation consultant. This collaboration marks a significant step for Singlife in enhancing its investment capabilities and optimising its long-term investment strategies.
Ortec Finance is a leading provider of investment decision technology and solutions, with decades of experience in delivering innovative solutions to financial institutions worldwide. Recognised as one of the world's most innovative FinTech companies in 2023, Ortec Finance is slated to open a Singapore office in 2024 to support its growing client base in Asia.
Through this partnership, Singlife aims to achieve the following objectives:
- Refining Asset Allocation Strategies: Singlife will work with Ortec Finance to develop and implement a more sophisticated asset allocation strategy that takes into account the company's specific risk tolerance, time horizon, and investment objectives. This will help Singlife to optimise its risk and capital management, while meeting its long-term return objectives.
- Cutting-Edge Technology Implementation: Singlife will use Ortec Finance's GLASS solution to automate and streamline its investment decision-making process for Asset Liability Management (ALM) and Strategic Risk Management. This will allow Singlife to make faster, more efficient, and more informed investment decisions. Through its scenario-based portfolio optimisation method that models the dynamic relationships between assets, GLASS will provide Singlife with greater insights into the factors driving risk and return dynamics within their portfolios. Singlife will be able to analyse alternative efficient portfolios across a range of forward-looking metrics, including the impact on Risk Based Capital, providing a solid framework for investment decision making under uncertainty.
- Innovation and Industry Leadership: Singlife and Ortec Finance will work together to develop and implement innovative investment solutions that meet the needs of customers. There will be exchanges of knowledge and expertise with other financial institutions, helping to drive innovation throughout the industry.
Kim Rosenkilde, Group Chief Investment Officer, Singlife said: "We are excited to partner with Ortec Finance to enhance our investment capabilities and optimise our long-term investment strategies. Ortec Finance's global reputation for delivering advanced investment solutions and their deep understanding of the insurance industry makes them the ideal partner to support Singlife's long-term investment goals. Together, we can continuously drive innovation in the industry and deliver exceptional outcomes for all our stakeholders.”
Stefano Seung Jin Lee, Managing Director APAC, Ortec Finance, added: “We are delighted to be appointed as Singlife's strategic asset allocation consultant. Singlife is a leading financial institution in Singapore with a strong focus on innovation. We are excited to partner with Singlife to help them achieve their long-term investment goals. With our Strategic Asset Allocation consulting and GLASS solution expertise, we are confident that we can help Singlife to enhance their investment capabilities and deliver exceptional outcomes for their customers.”
This partnership is a major milestone for Singlife and marks a significant step forward in its journey as a leading homegrown financial services company. With Ortec Finance's expertise and support, Singlife is well-positioned to model and map uncertainties to enhance its investment capabilities.
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About Ortec Finance
Ortec Finance is the leading provider of technology and solutions for risk and return management. It is Ortec Finance’s purpose to enable people to manage the complexity of investment decisions.
This is accomplished via the delivery of leading technologies and solutions for investment decision-making to financial institutions around the world. Ortec Finance’s strength lies in an effective combination of advanced models, innovative technology, and in-depth market knowledge. This combination of skills and expertise supports investment professionals in achieving a better risk-return ratio and thus better results.
Headquartered in Rotterdam, The Netherlands, Ortec Finance has offices in Amsterdam, London, Toronto, Zurich, New York, and Melbourne. Ortec Finance helps 600+ clients manage their $15 trillion assets under management.
Singlife is a leading homegrown financial services company offering consumers a better way to financial freedom. Through innovative, technology-enabled solutions and a wide range of products and services, Singlife provides consumers control over their financial wellbeing at every stage of their lives.
In addition to a comprehensive suite of insurance plans, employee benefits, partnerships with financial adviser channels and bancassurance, Singlife offers investment and advisory solutions through its GROW with Singlife platform. It also offers the Singlife Account, a mobile-first insurance savings plan.
Singlife is the exclusive insurance provider for the Ministry of Defence, Ministry of Home Affairs and Public Officers Group Insurance Scheme. Singlife is also an official signatory of the United Nations Principles for Sustainable Insurance and the United Nations-supported Principles for Responsible Investment, affirming its commitment to finding a better way to sustainability.
First announced in September 2020 and valued at S$3.2 billion, the merger of Aviva Singapore and Singlife was the largest insurance deal in Singapore then and created one of the largest homegrown financial services companies in the republic.