To show its commitment in continuous growth in Asia Pacific, Aviva Announces Asia Pacific Senior Executive Team changes
"One Aviva Twice the Value"
Aviva today announces senior management changes to its Asia Pacific Executive team as a show of the Group's commitment in continuous growth and expansion in the Asia Pacific region.
Mr Keith Perkins, the 43-year old British who negotiated the deal with DBS to purchase the Insurance Corporation of Singapore (ICS) six years ago and has grown Aviva Singapore into one of Singapore's leading top insurers will be moving on to a new role to spearhead Aviva's growth in the Asia Pacific Region.
Mr Shaun Meadows, currently the Marketing Director for Aviva UK's General Insurance business will be taking over the helm as the Chief Executive Officer Singapore, Hong Kong and Middle East, subjected to regulatory approval. He brings with him the wealth of over 26 years of experience in the insurance industry.
"This is a demonstration of our vision of "One Aviva Twice The Value" which aims to bring us closer to becoming a truly integrated, global business. It is not only about growing financially but also about the way we think and the way we operate. Since our entry in the life market in Asia in 2001, we are now in nine markets – China, India, Sri Lanka, Singapore, Malaysia, Hong Kong, Taiwan, Australia and the Middle East. We need to extend our footprint in the Asia Pacific region and at the same time achieve outperformance from our existing businesses," said Mr Simon Machell, Chief Executive Officer, Aviva Asia Pacific.
"Keith will be the Business Development Director in the Asia Pacific region with effect from 1st January 2008, reinforcing Aviva's growth challenge. I believe that with his track record in setting up the businesses in Singapore, Hong Kong and the Middle East, Keith is able to emulate similar success in other Asian markets. We are currently assessing the potential of new markets, with the view that we will only enter markets where we can leverage on distribution or product platforms," highlighted Mr Machell.
Mr Perkins replaces Mr Charles Anderson who will be pursuing his career outside the Aviva Group.
"I very much appreciate all the work Charles has put into making Aviva Asia what it is today and wish him the very best for the future," said Mr Machell.
Under the leadership of Mr Keith Perkins, Aviva's life market share in Singapore has more than doubled since Aviva acquired ICS in late 2001. This year to date, Aviva is the largest new business writer based on the total sales of protection, savings, and investment products, including the unit trust wrap business. In its recent announcement on the worldwide long-term savings new business figures for the third quarter of 2007, Aviva's total sales in Singapore is reported to have increased by 94% to £724 million (2006 : £387 million), with life and pension sales growing by 10% to £219 million (2006 : £207 million).
In Hong Kong, sales have almost doubled to £252 million (2006 : £141 million) due to strong IFA sales, which now accounts for 68% (2006 : 50%) of total sales and the continued good performance from the partnership with DBS Hong Kong.
Aviva Hong Kong is acknowledged as the fastest growing insurer in Hong Kong since the business was launched in 2002.
"Both Aviva Singapore and Hong Kong have been enjoying record sales results every year. Such results do not happen by accident. Many factors contribute to our growth and success. The breadth and quality of our products and services combined with the strength of our distribution relationships have been key success ingredients. With our manufacturing capabilities, market leading champion products and support from our distribution channels, we work closely with our partners in meeting evolving customers' needs and expectations. I would like to take this opportunity to thank our partners and customers for having faith and trust in the Aviva brand name and our products," noted Mr Perkins.
A further testimonial to the strength in Aviva's brand name is the increasing number of partnership with life insurers to distribute Aviva products. Besides DBS Bank as the main Bancassurance channel, Aviva now also has partnerships with Manulife, HSBC Life and TM Asia Life.
On the new challenge he is embarking on, Mr Perkins said, "The growth momentum continues in Aviva Asia Pacific with total sales up 66% to £3,068 million. Aviva has been continuously delivering significant growth and building scale in Asia. I am thus very excited about my new role. I am definitely looking forward to exploring new areas of opportunity and contributing to Aviva's further expansion plans. However, I am also sad to leave behind such a great team who has the winning combination of entrepreneurial spirit, expertise and customer centric mindset. They have supported me well and I am confident they will continue to introduce innovative products offering strong propositions to the market under the guidance of Shaun."
Mr Shaun Meadows has been the Marketing Director in Aviva in UK, responsible for all marketing, brand, proposition and product development. He has worked for Aviva for 19 years, with an abundance of experience in Aviva Wealth Management and launching major Customer Service programmes. During his career, Mr Meadows has worked in Aviva Life Insurance and General Insurance companies. More recently, he has led the work in revitalising online propositions and the brand for its consumers.
"Aviva in Singapore and Hong Kong have grown fast. I am looking forward to maintaining this momentum! Furthermore, in this globalised world, we must be cognizant of the growing competition. Customers are very savvy and well informed. They know what they want. So this is where Aviva's manufacturing capabilities can be used to great effect. I am very clear that Aviva will continue to win customers' trust by offering transparent, value for money products that are easy to understand and meet their needs," affirmed Mr Meadows.
"Shaun brings with him an unique winning formula of rich experience coupled with fresh perspective on sustaining market growth in Singapore and Hong Kong. His move to Singapore and Keith's advancement reinforce Aviva Group's continuing commitment in strengthening our foothold in the Asia Pacific market." summed up Mr Machell.
For more information, please contact:
Communications, Brand & Corporate Relations, Aviva Ltd
Mobile: +65 9878 6818,
Aviva is one of the leading providers of life and pensions products in Europe with substantial positions in other markets around the world, making it the world's fifth largest insurance group based on gross worldwide premiums at 31 December 2006.
Aviva's principal business activities are long-term savings, fund management and general insurance, with worldwide total sales of S$121.60 billion and assets under management of S$1092 billion at 31 December 2006.
We have 59,000 employees serving over 40 million customers worldwide.
Financial ratings of our main operating subsidiaries (as at 31 December 2006):
Standard and Poor's AA/AA- very strong
Moody's Aa3 excellent
MORE ABOUT MR KEITH PERKINS
Keith is currently the Chief Executive Officer of Aviva Singapore, Hong Kong and the Middle East.
An energetic and consistently high performing chief executive with a proven track record in the financial services industry, both in the UK and Asia. A strong leader and team player who can think strategically and translate strategy into real commercial results.
CAREER SUMMARY :
Chief Executive Officer - AVIVA Singapore, Hong Kong and Middle East
Development Director - Norwich Union Partnerships Division (AVIVA UK)
Operations Director - Norwich Union Personal Finance (AVIVA UK)
Finance Director - Lloyds TSB Insurance & Investments Division (UK)
MORE ABOUT MR SHAUN MEADOWS
A highly effective Marketing Director within Aviva, skilled in Customer Management, Marketing Communications, Brand Strategy, Sponsorship and Public Relations.
Experience in delivering results in all aspects of sales and marketing, change management, operational management and strategic development in a multi channel, multi product environment.
CAREER SUMMARY :
Marketing Director – Norwich Union Insurance
Marketing Director – RAC
Director of Customer Service Programme – Norwich Union Insurance
Head of Channel Management – norwichunion.com
Head of IFA Distribution – Norwich Union Life
Head of Sales and Marketing Strategy – Norwich Union Life