Japanese insurer Tokio Marine has announced a $5 million investment in Singapore-based InsurTech startup Igloo. This deal, as noted in filings with Singapore's Accounting and Corporate Regulatory Authority (ACRA), grants Tokio Marine a minority stake of 1.65% in the company.
The investment involved the acquisition of 493,984 shares at a price of $10.12 each. This move allows Tokio Marine to join a roster of notable investors already backing Igloo, which includes Openspace Ventures, Cathay Innovations, and Blue Orchard.
Founded in Singapore, Igloo focuses on building digital insurance solutions for underserved markets in Southeast Asia. By leveraging technology, the company aims to simplify insurance processes and enhance customer experience. With this new funding, Igloo is likely to expand its offerings and accelerate growth within the region.
For Tokio Marine, this investment aligns with its strategy to embrace digital transformation and explore opportunities in emerging markets. By taking a stake in Igloo, Tokio Marine can tap into the evolving InsurTech landscape and gain insights into innovative insurance models that are becoming increasingly important in the industry.
This investment reflects a growing trend in the insurance sector where established players seek collaboration with technology-driven startups to enhance their service offerings. The move may provide a pathway for Tokio Marine to strengthen its market presence and foster innovation in its product suite.
Original Source: https://fintech.global/2026/01/26/tokio-marine-invests-5m-in-insurtech-igloo/