Aviva Singapore continues double digit growth for the third consecutive year in 2012
Aviva Singapore continued on an upward trajectory, posting strong double digit growth for the third consecutive year.
Life insurance sales increased 25% to S$1.36 billion1, fuelled by our strong emphasis on creating products specific to Singaporeans' needs and our multi-distribution approach.
On the general insurance front, sales also grew by 11%, driven primarily by motor insurance.
Apart from sharing the details about our performance in 2012, Nishit Majmudar, CEO of Aviva Singapore, also shared with the press our priorities for the year ahead. These include our continued focus on ensuring our products are simple and flexible, as well as taking efforts to simplify our processes so it's as hassle-free as possible for customers and advisers.
1Sales are measured using Present Value of New Business Premium (PVNBP), which is the present value of new regular premiums plus 10% of single premiums.
Read the articles here:
'Aviva S'pore profits up 27% at $122 million', The Straits Times, 20 March 2013
'Aviva Singapore posts strong sales and profit growth', The Business Times, 20 March 2013