AEV divests in Singlife with P127- million share sale

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March 12, 2026 | 12:00am

MANILA, Philippines —  The Aboitiz Group is ending its six-year involvement in Singapore Life (Philippines) Inc. by selling its remaining stake in the digital life insurer for P127.2 million.

In a stock exchange filing, AEV said it executed a deed of assignment with Singapore Life Holdings Pte. Ltd. covering the sale and assignment of all its shares in SingLife Philippines.

The transaction involved the sale of 2.4 million AEV-owned shares, equivalent to a 5.33 percent stake in SingLife Philippines, at P53 apiece.

AEV said the valuation for the deal was agreed by the parties based on a “willing-buyer, willing-seller basis.”

The completion of the transaction, which includes customary closing conditions such as the issuance of a certificate authorizing registration from the Bureau of Internal Revenue, among others, marks the complete divestment of AEV from SingLife Philippines.

“The transaction aligns with AEV’s strategic portfolio optimization initiatives and allows the company to redeploy capital toward core businesses and higher-priority growth opportunities,” the conglomerate said.

SingLife Philippines is a fully digital life insurance company offering accessible life, health and protection insurance products through its app platform.

In December 2019, AEV announced a partnership with Singapore Life Private Ltd. to establish a new digital life insurance company in the country, making insurance and financial products more accessible to Filipinos nationwide.

The joint venture, Singlife Philippines, was originally 65 percent owned by Singlife, with partners Di-Firm owning 20 percent and AEV with 15 percent.

With strategic investments across power, banking and financial services, food and beverage, infrastructure and real estate, AEV continues to advance the group’s vision of becoming the country’s first techglomerate – an organization that integrates data, innovation and sustainability to drive long-term growth and value.