Aviva Singapore launches new FA firm

Singapore

UNITED KINGDOM-BASED composite insurer Aviva Singapore has launched a wholly owned financial advisory (FA) firm that offers multiple products from different insurers, adding pressure on competitors to do likewise.

Aviva Financial Advisers as the new FA firm is known, will offer not just Aviva products but also those of three or four other providers, the insurer said on Monday, confirming an earlier Business Times report.

While details on product mix are not available as the distribution agreements with other insurers are still being finalised, Nishit Majmudar, the Singapore chief executive told BT that "we will have other life insurers who will offer the same products as what Aviva does, so …