In Response to Customers' Growing Need for Financial Security, DBS and Aviva Extend and Deepen Partnership
Partnership extended from 2010 to 2015 and will tap underinsured markets in Asia Pacific
SINGAPORE, 30 July 2009 – 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 on new markets in Asia Pacific.
"Aviva's research has found that consumers are worried about their financial situation in the current economic volatility. DBS and Aviva's continued partnership will ensure that consumers have a range of quality insurance products to meet their evolving needs", said Mr. Shaun Meadows, CEO of Aviva in Singapore and Hong Kong.
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 10 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.
"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", said Mr. Rajan Raju, Managing Director and Head of the Consumer Banking Group at DBS.
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.
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 S$133.64 billion and funds under management of S$789.20 billion at 31 December 2008.
*based on gross worldwide premiums at 31 December 2007
About DBS Bank
DBS is one of the largest financial services groups in Asia with operations in 16 markets. Headquartered in Singapore, DBS is a well-capitalised bank with "AA-" and "Aa1" credit ratings that are among the highest in the Asia-Pacific region.
As a bank that specialises in Asia, DBS leverages its deep understanding of the region, local culture and insights to serve and build lasting relationships with its clients. DBS provides the full range of services in corporate, SME, consumer and wholesale banking activities across Asia and the Middle East. The bank is committed to expanding its pan-Asia franchise by leveraging its growing presence in mainland China, Hong Kong and Taiwan to intermediate the increasing trade and investment flows between these markets. Likewise, DBS is focused on extending its end-to-end services to facilitate capital within fast-growing countries in Indonesia and India.
DBS acknowledges the passion, commitment and can-do spirit in each of its 14,000 staff, representing over 30 nationalities. For more information, please visit www.dbs.com.
For more information, please contact:
Edelman Public Relations
Tel: 9188 0802
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