Singlife Recognised as Champion of Good

Leading homegrown financial services company Singlife has been named a Champion of Good by the National Volunteer and Philanthropy Centre (NVPC). This marks Singlife’s first Champion of Good recognition for its exemplary accomplishments in driving and multiplying environmental and societal impact.

Singlife is among 78 organisations who were conferred the Champions of Good recognition out of a total of 290 conferred companies in the 2024 Company of Good cohort. This is the first edition of the enhanced Company of Good Recognition System by NVPC that goes beyond traditional metrics on corporate giving and tracks an organisation’s progress and impact across corporate purpose and five impact areas – People, Society, Governance, Environment, and Economic.

“At Singlife, our purpose is to offer our customers a better way to financial freedom while making a positive impact on our communities and environment. Our core values of Agility, Collaboration, Empathy, Innovation, and Trust (ACE-IT) help drive our purpose. Being recognised as a Champion of Good is a tremendous honour. As a long-term business, we are firmly committed to integrating our purpose into everything we do,” said Pearlyn Phau, Group Chief Executive Officer, Singlife.

Key Highlights of Singlife’s Purpose-Led Journey in the Past Two Years

With a strong commitment to the environmental, social, and governance (ESG) agenda, Singlife published its second Sustainability Report showcasing the company’s progress and achievements in 2023 across its five sustainability pillars – Responsible Investor, Accelerator of Net Zero, Innovator for Green and Good, Sustainability-Embedded Culture, and Effective Governance and Risk Management.

Within a short span of time in two years, Singlife has established a steady track record of adopting international principles and best practices to accelerate its sustainability journey. It has achieved significant milestones, including becoming the first local insurer to be recognised as a signatory of the United Nations Principles for Sustainable Insurance within its first year of operations. It is also the first Southeast Asian insurer to join the United Nations-supported Principles for Responsible Investment and the only insurer represented on the industry-led Sustainability Reporting Advisory Committee guiding Singapore companies towards adopting the International Sustainability Standards Board (ISSB) standards.

In addition to integrating ESG considerations into its investment process and decisions, the company has continued to grow its sustainable investment portfolio. As of December 2023, Singlife has invested over S$670 million and committed an additional S$610 million into sustainable assets, including co-investing in the largest equity Exchange-Traded Fund (ETF) listed on the Singapore Exchange to drive climate action.

In its commitment to being the better way for its customers, Singlife has also engaged in green product innovation, such as the introduction of heatstroke insurance to address climate risks. Understanding how long-term care impacts its customers, Singlife launched Care Collab, a one-stop health services hub with healthcare ecosystem partners, including the Agency for Integrated Care (AIC), Dementia Singapore, Homage, and more, to provide policyholders and caregivers access to preventative care and health support services.