Aviva to provide group term insurance to Singapore Ministry of Defence and Ministry of Home Affairs
Aviva today announced that its Singapore business has been selected to provide group term insurance to the Singapore Ministry of Defence (MINDEF) and Ministry of Home Affairs (MHA).
Aviva is proud to have been entrusted with providing group term insurance coverage to servicemen and employees of MINDEF since 1983. Under the new agreement, Aviva will now also provide group term insurance to MHA for the first time, which together will be the largest group scheme in Singapore.
Chris Wei, Executive Chairman of Aviva Asia and Global Chairman of Aviva Digital commented:
“We are honoured to have been given the opportunity to continue to work as a trusted partner with MINDEF and now MHA. Singapore’s national servicemen make important contributions towards the defence and security of the country, and the provision of group term insurance helps recognise their contributions.”
As the largest group insurer in Singapore*, this win will further enhance Aviva’s leading position in Employee Benefits in the country. With the new agreement, Aviva will now insure about one in every 4 employees in Singapore.
Nishit Majmudar, Chief Executive Officer, Aviva Singapore, said:
“Aviva has a long history of working in Singapore, helping organisations look after their employees’ needs. We are delighted to have been given the opportunity to extend and expand our contract with the Singapore Government, and proud to be recognising Singapore’s national servicemen for their contributions to the country’s national defence and security.”
*In terms of gross sum assured
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About Aviva Asia
• Aviva operates in seven markets in Asia (Singapore, China, Indonesia, Hong Kong, Vietnam, Taiwan and India).
• Aviva is a leading life insurer in Singapore and one of the biggest providers of employee benefits and healthcare insurance.
• Aviva-COFCO ranks among the top seven foreign life insurers in China, operating in twelve provinces with over 50 branches.
• In Indonesia, Astra Aviva Life is an equal joint venture between Aviva and Astra International, one of Indonesia’s largest diversified conglomerates, to sell and distribute insurance products.
• Aviva has had a presence in Hong Kong for more than 150 years.
• In Vietnam, Aviva operates as VietinAviva through Vietinbank Aviva Life Insurance Company Ltd, a joint venture with Vietnam Joint Stock Commercial Bank for Industry and Trade.
• Aviva operates First-Aviva in partnership with First Financial Holdings in Taiwan, with a wide distribution network of 190 branches across the country.
• Aviva operates in partnership with the Dabur Group in India, with a wide distribution network of 121 branches spreading across nearly 1,000 towns and cities.
• Following Aviva’s acquisition of Friends Life Group in April 2015, Friends Provident International is now part of the Aviva Group. Friends Provident International provides life assurance and investment products in Singapore, Hong Kong and the United Arab Emirates.