MAS Withdraws the Exemption of Three Insurance Brokers under the Financial Advisers Act.
"Aviva would like to assure our customers that no Aviva product is affected by the withdrawal of the exempt financial advisor status of each of Acclaim Insurance Brokers Pte Ltd (AIB), Leadenhall Insurance Brokers Pte Ltd (LIB), and Magnetron Insurance & Financial Services Pte Ltd (MIFS) under the Financial Advisers Act by the Monetary Authority of Singapore ("MAS").
While the MAS has directed the three affected firms to cease providing financial advisory services for new transactions by 23 December 2008, existing investment accounts and the status of the life insurance policies maintained by customers will not be affected.
Our priority is to protect our customers' best interests and we are in the process of informing them and addressing any concerns. We are also advising them on the options available to them.
Concerned customers may also call our customer service hotlines at (Aviva Life) 6827 9933 / (Navigator) 6827 7555 from 8.45am to 5.30pm for further information.
Aviva continues to provide prosperity and peace of mind to 45 million customers worldwide."
- Shaun Meadows, CEO, Singapore, Hong Kong and the Middle East, Aviva Ltd