News
In response to customers' growing need for financial security, DBS and Aviva extend and deepen partnership
30 July, 2009
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Partnership extended from 2010 to 2015 and will tap underinsured markets in Asia Pacific
Aviva, the world’s number one bancassurance provider and DBS, a leading bank in Asia, have extended their bancassurance partnership from 2010 to 2015, to address customers’ growing need for financial security and to tap new markets in Asia Pacific.
Simon Machell, Aviva Asia Pacific’s chief executive, said: “Aviva’s research has confirmed that consumers are worried about their financial situation in the current economic volatility. Working in partnership with DBS, we will be able to provide high quality insurance products which meet consumers’ increasing desire for financial security and will look at how we can jointly develop new products to meet the rising demand for health and protection products.”
As part of the enhanced partnership, a new insurance specialist team will be introduced to provide greater accessibility and convenience to customers. Thirty insurance specialists in Singapore and ten in Hong Kong will receive six months of full-time training by Aviva and will be deployed in DBS branches by the end of the year.
Rajan Raju, managing director and head of DBS Consumer Banking Group, added: “DBS is committed to Asia and our partnership with the world's leading bancassurance provider, Aviva, has enabled us to become a leading bancassurer in Singapore and Hong Kong. Our enhanced partnership will allow us to offer our customers comprehensive solutions for their protection and financial assurance needs across their life stages.”
Aviva and DBS have forged a fruitful partnership in Singapore and Hong Kong since 2001. With the enhanced partnership that will be extended to 2015, both companies aim to strengthen their bancassurance market share in Singapore and the region. DBS and Aviva also plan to extend their partnership further by providing bancassurance in China, India and Taiwan in the future.
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Enquiries:
Media
Sue Winston, head of group media relations +44 (0)20 7662 8221
Paul Harris, senior group media relations manager +44 (0)20 7662 9511
Analysts
Charles Barrows, investor relations director +44 (0)20 7662 8115
Jessie Burrows, head of investor relations +44 (0)20 7662 2111
Susie Yeoh, investor relations manager +44 (0)20 7662 2117
Notes to editors:
- Aviva is the world’s fifth largest* insurance group, serving 50 million customers across Europe, North America and Asia Pacific.
- Aviva's main business activities are long-term savings, fund management and general insurance, with worldwide total sales of £51.4 billion and funds under management of £381 billion at 31 December 2008.
- We are the largest insurance services provider in the UK and one of the leading providers of life and pension products in Europe.
- The Aviva media centre at www.aviva.com/media includes images, company and product information and a news release archive.
- For broadcast-standard video, please visit www.thenewsmarket.com/aviva.
