AMTD Digital, the digital finance one stop platform arm of AMTD Group and the core engine of the AMTD SpiderNet, announced that it will acquire a controlling stake of PolicyPal, a company licensed by the Monetary Authority of Singapore, and the first graduate of MAS fintech regulatory sandbox, which deepens the Company’s plan to build a Southeast Asian and beyond, Asia connected Fintech platform, headquartered in Singapore.
This acquisition is pending the approval by the Monetary Authority of Singapore. After the acquisition, PolicyPal will become a member company under AMTD Digital, and using its digital insurance broker license granted by the Monetary Authority of Singapore, as well as acting as AMTD Digital’s operating vehicle to develop and expand in the Southeast Asia insurtech sector, and in collaboration with AMTD’s insurance brokerage company – AMTD Risk Solution, Hong Kong’s largest corporate insurance brokerage, definitely will drive in a significant way the innovative development of Asia’s insurtech space, and promote an inclusive, green, technological, and professional online insurance service and risk management experience.
