News
Manulife S'pore sells record S$380 million life insurance policy to single client
In the past 12 months, it has issued 25 individual policies, each valued at over US$50 million (S$63 million).
February 24, 2026, 12:12 PM
Manulife Singapore has issued a single life insurance policy worth US$300 million (S$380 million) to a client, setting a new benchmark for the global industry and surpassing what Guinness World Records previously certified as the most valuable policy ever issued.
The previous record was a US$250 million (S$317 million) policy issued by HSBC Life in Hong Kong in 2024, according to Bloomberg.
Singapore’s growing ultra-wealth landscape
Manulife Singapore said in a press release that the transaction highlights "the growing sophistication of high-net-worth (HNW) planning needs", as families with cross-border assets seek solutions that can safeguard capital and facilitate intergenerational transfers.
Singapore’s political and economic stability and "robust regulatory regime" have made it an increasingly attractive base for HNW wealth management.
The city-state has seen a surge in ultra-rich residents in recent years.
According to the 2025 UBS Billionaire Ambitions report, Singapore is home to 55 billionaires with a combined wealth of about US$259 billion (S$328 billion) — a 66 per cent increase from the previous year.
Nearly seven in 10 of these fortunes are self-made.
Rising demand for large-scale coverage
Manulife Singapore also said that in the past 12 months alone, it has issued 25 individual policies, each valued at over US$50 million (S$63 million).
"This sustained momentum underscores the growing demand for comprehensive protection, wealth accumulation, and legacy planning solutions among HNW clients."
Manulife Singapore has been active in developing insurance offerings targeted at HNW clients.
It introduced Universal Life products in 2010, followed by Variable Universal Life in 2017 and Indexed Universal Life in 2019.
More recently, the company rolled out several new products aimed at HNW families, including a USD participating whole life plan focusing on wealth preservation, accumulation and legacy planning.
Top image via Manulife
