The investment, made through MSI’s Singapore subsidiary, MSIG Asia Pte. Ltd., represents MSI’s entry into a partnership aimed at strengthening its presence in the Asian health insurance sector.
Starting in October 2024, subject to regulatory approval, MSI plans to roll out new health insurance products in Singapore, targeting corporate groups in the ASEAN region. By 2025, the company intends to extend these offerings to Indonesia and Vietnam. This expansion is part of MSI’s broader strategy to grow its healthcare-related business in Asia, where rising demand for quality healthcare services is being driven by a growing middle-income population and increasing awareness of health and wellness.
Serenity Health Partners, founded in 2024 by industry veterans Jonathan James and Derek Goldberg, is headquartered in Singapore and specialises in health insurance product design, advisory services, third-party administration (TPA), and network management. The company is seeking regulatory approval to operate as a Managing General Agent (MGA) in Singapore, offering specialised health solutions across the region.
As the largest non-life insurance group in the ASEAN region by gross written premiums, MSI has identified health insurance as a key area for growth. The insurer is focused on diversifying its distribution channels, including digital platforms, and forming partnerships across various industries to reinforce its market position in Asia.
With a global network spanning 41 countries and over a century of experience, MSI provides insurance solutions that address a wide range of global risks. The investment in Serenity Health Partners aligns with MSI’s strategic objective of expanding its footprint and capabilities in the rapidly growing Asian health insurance market.
