IPGL, the UK-based privately owned holding company of a trading group, has acquired a 33.8% stake in Singapore Life, a Singapore-based life insurance company, from Chong Sing Holdings Fintech Group, a listed China-based company engaged in the provision of loan service and financing consultancy service, for £41m ($52m). IPGL has increased its stake in Singapore Life to 63.2%. Singapore Life is the first independent life insurance company to have been fully licensed by the Monetary Authority of Singapore since 1970.