Singapore insurer Singlife has signed an outsourcing agreement with Citi and BlackRock that will cover front, middle and back-office services. Citi and BlackRock formed a partnership in 2020 that combined the former’s custody and administration services with the latter’s Aladdin platform. According to Singlife, the arrangement will give its clients “portfolio management capabilities that improve efficiencies, automate controls and enable a seamless front-to-back experience”. The selection process was led by asset management consultancy Alpha FMC and overseen by Singlife’s executive committee. “Safeguarding assets, improving internal processes and increasing efficiencies across the board is fundamental in allowing us to better serve and focus on our clients,” said Kim Rosenkilde, Singlife’s group chief investment officer. ©2023 funds global asia