The life insurance offshoot from The Asia Insurance Company's business proved to be the start of the diversification strategy at 'Asia'. Tan Boon Khak was the Chairman and Lee Leung Ki, the Managing Director of the life company. Its first manager was Lee Chew Kuen.

Asia Life, like its sister company, The Asia Insurance Company, faced stiff competition from the well-established insurers of the day. There was also the prevailing prejudice against local companies.

Yet, rising to the challenge with an initial paid-up capital of S$1m, Asia Life surprised many by topping its areas of operation with a maiden bonus to policyholders in 1951. Up to this day, the company's bonus rates have remained consistently among the highest in the two countries, a solid testimony to its overall financial strength.

Recognising the prospects across the Causeway, Asia Life embarked on its first Malaysian operations in the 1950s, establishing, within a few years, offices spanning from the capital city of Kuala Lumpur to Penang in the north and Johor Bahru in the south. In the 1960s, an agent was appointed in Brunei until 1987 when, as business grew, a branch office was set up to serve the local clientele.

In the early years, Asia Life pursued a varied base of opportunities, from life assurance to motor vehicle financing, from Singapore and to Malaya. Within a few years, it has captured most of the market in this field to become the leading company in the hire-purchase business.

It continued to grow from strength to strength. In 2007, it changed its name to TM Asia Life Singapore Ltd., following Tokio Marine & Nichido Fire Insurance Co. Ltd's acquisition of its parent company, Asia General Holdings. With its dedicated team of staff and multi-channel distribution network, it's ready for whatever challenges that may lie ahead.