Scotland business

Standard Life opens in Singapore

Standard Life
The Edinburgh insurer already has operation overseas which it operates jointly with partners

Edinburgh insurer Standard Life has announced it will open its first branch in Singapore.

The move is part of the company's strategy to increase its presence in "high value" Asian and emerging markets.

Standard Life said it got approval from the authorities which allows it to target "high net individuals".

The Scottish group already has ventures in India and China which it operates with partners.

Nathan Parnaby, chief executive for Asia and Emerging Markets for Standard Life, said: "Our long term ambition within Asia is to build a leading retail savings and investment business.

"Singapore is a large and respected financial centre and we are committed to building a successful business from there, focused on delivering high quality products for customers."

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