Bowtie Life Insurance Co has secured up to $70 million in a private funding round led by Sun Life Financial Inc’s Hong Kong unit.  

The investment, part of a Series C funding round, will help Bowtie achieve goals that include becoming a top five provider of medical insurance in Hong Kong and expanding internationally, the digital insurer said in a statement Friday.

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Bowtie is focusing on areas including agentic artificial intelligence and health innovation, co-founder Fred Ngan said in the statement. The insurer has now raised over HK$1 billion ($127 million) from Sun Life and Japan’s Mitsui & Co.

“Sun Life has been a long-term, committed partner to Bowtie for almost seven years,” said Clement Lam, chief executive officer of Sun Life Hong Kong.