with effect from january 01, 2012, aia, in a media release announced that aia in singapore will be known as aia singapore pte ltd with the insurance business in singapore being successfully transferred from a branch to a singapore-incorporated and a wholly-owned subsidiary of american international assurance company, limited. aia singapore also announced its inaugural AA- financial strength rating with stable outlook from rating agency, standard & poor's.
the ceo of aia singapore, mr tan hak leh said:
"having been in operation as a branch office in singapore for over 80 years since 1931, the transfer of our business to a singapore-incorporated company - aia singapore - is a very significant milestone for us. it reinforces our commitment to meeting the protection and savings needs of singaporean families across generations and we will continue to introduce innovative products and deliver quality service to help singaporean families bridge their underinsurance gap."
my comments:
existing aia policyholders have been informed of the transfer in september 2011 and all existing policy contracts with american international assurance company limited have been automatically transferred to aia singapore. with the transfer now formalised, all aia policyholders will continue to enjoy the same terms and conditions of their insurance policies.
we are proud to be part of the aia story and i have noticed a discernable change in the company's more customer-centric focus in many areas especially in the enhancement of existing products and in the development of new products (akan datang). and to quote one product, aia secure term plus has been re-priced (since november 2011) to be super competitive amongst similar class products in the market place.
we wish aia singapore pte ltd every success in the years to come.
Congrats to the success, My friend company is a member of this aia insurance and really this is cool, they got the best benefit from the company.
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