British billionaire investor and former treasurer of Britain’s Conservative Party, Michael Spencer. Photo: Bloomberg

London billionaire Michael Spencer boosts stake in Singapore Life to 63pc

  • Michael Spencer has boosted his stake in the firm to 63 per cent from 29 per cent through his private company IPGL
  • Spencer paid US$52.7 million to Chong Sing Holdings to acquire the additional 33.8 per cent stake
  • An eventual IPO is “certainly” part of the aspirations for Singapore Life, says Singapore Life CEO Walter de Oude
Topic |   InsuTech

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British billionaire investor and former treasurer of Britain’s Conservative Party, Michael Spencer. Photo: Bloomberg
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Georgina Lee

Georgina Lee

Georgina Lee has been a financial journalist for more than 15 years, having worked for newswires and trade magazines before she joined the Post. She has also previously written research articles on key structured credit themes for a credit rating agency.