Aviva re-enters Singapore’s GI market
Aviva has announced that it is re-entering Singapore’s general insurance market.
According to the insurer, the move will serve as a launch pad for regional expansion.
The group’s ambitions begin with becoming Singapore’s first direct online car insurer, with a home and travel offering to follow, after which the business will be rolled-out in key markets in Asia.
Aviva Asia Pacific chief executive, Simon Machell, says: “The rising affluence of Asian consumers has led to an increasing need to insure their growing assets.”
He adds: “Our online model enables us to pass on significant cost savings along with greater convenience and flexibility.”
Aviva says it will also be capitalising on its competitive position with attractive rates and a best-in-class claims service that will provide accident support within 20 minutes anytime, anywhere in Singapore.
Asian insurance markets are also close to the heart at Prudential, which last month agreed terms with American International Group to acquire AIA, the Asian business of the embattled US insurance giant.
Pru said it would pay £23 billion in cash and shares for the business, in a bid to become South East Asia’s leading insurer.
Category: Aviva News, Insurance News
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