Manulife Singapore issues record-breaking $408m single life insurance policy

The landmark issuance follows surge in HNW demand.

Manulife Singapore has issued a single life insurance policy worth $408m (US$300m), reflecting growing demand for high-net-worth wealth preservation and legacy planning solutions, according to a press statement.

In the past 12 months, Manulife Singapore issued 25 individual policies exceeding $68m (US$50m) each.

Benoit Meslet, CEO of Manulife Singapore, said the issuance shows clients’ trust in the company and its ability to manage large-scale policies.

Manulife Singapore has expanded its high-net-worth offerings over the years, introducing Universal Life in 2010, Variable Universal Life in 2017, and Indexed Universal Life in 2019.

Recent products include Signature Indexed Income, Signature Indexed Universal Life Select (III), and Signature Legacy Harvest, a USD participating whole life plan designed for wealth preservation, accumulation, and structured wealth transfer across generations.

The company has operated in Singapore for over 125 years and manages $1.57t (C$1.7t) in global assets.