The majority of deal value in 2023 has been driven by Japanese insurer Sumitomo Life’s acquisition of Singapore Life (Singlife), and Singapore-based insurtech company Bolttech’s series B round. DEALS in the insurance and technology (insurtech) sector in South-east Asia recorded a total value of US$2.35 billion in 2023, up from US$538 million in 2022, indicated a report by EY in August.