SINGAPORE: Manulife Financial Corp. sold a US$300 million life insurance policy in Singapore, topping what Guinness World Records certified as the most valuable policy ever issued.
The policy surpasses the previous record of US$250 million, set by HSBC Life in Hong Kong in 2024. Manulife said in a statement Tuesday that the deal reflects growing demand from ultra-wealthy clients to preserve their assets.
In Singapore over the past 12 months, Manulife has issued 25 individual policies each worth more than US$50 million.
Singapore is home to 55 billionaires with a combined wealth of about US$259 billion, a 66% jump from a year earlier, according to the 2025 UBS Billionaire Ambitions report. About 69% of those are self made.