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Japan's Sumitomo Life raises Singlife stake in $133 mln deal

SINGAPORE, Nov 8 (Reuters) - Japan's Sumitomo Life Insurance has increased its investment in Singapore Life (Singlife) via a capital injection of S$179.99 million ($133 million), the Singaporean financial services firm said on Wednesday.

The issue was comprised of 23.68 million new shares, or 4.92% of the increased share capital of Singlife, it said in a statement, raising Sumitomo Life's stake in Singlife to 27%.

The share capital of Singlife increased to S$2.26 billion from S$2.08 billion and its total issued shares to 481.73 million from 458.04 million, it said.

Singlife said it will use the capital to support business growth.

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Singlife is the exclusive insurance provider for the Ministry of Defence, Ministry of Home Affairs, and Public Officers Group Insurance Scheme in Singapore.

($1 = 1.3562 Singapore dollars) (Reporting by Yantoultra Ngui; editing by Jason Neely)