The increase in regional and domestic wealth primes AIA Singapore’s wealth strategy with the launch of AIA Wealth Centre to provide bespoke experiences for customers in Singapore.
SINGAPORE – Media OutReach Newswire – 30 April 2024 – AIA Singapore launched AIA Wealth Centre, dedicated to serving regional and domestic affluent and high-net-worth (HNW) individuals and families. This marks an exciting milestone in the illustrious history and legacy of AIA Singapore, furthering the unique AIA “Wealthbeing” proposition to provide holistic wealth solutions that seamlessly blend wealth creation and well-being to empower clients to live Healthier, Longer, Better Lives. The official launch saw Ms. Gillian Tan, Assistant Managing Director of the Development and International Group and Chief Sustainability Officer of Monetary Authority of Singapore, gracing the occasion as the Guest-of-Honour.
AIA Singapore’s wealth strategy is a strategic response to the projected surge in Asia’s affluent population, which is expected to grow 61 percent to reach 28.2 million individuals by 2026, compared to 17.5 million in 2021[1]. Singapore is also expected to see its share of this growth, with the number of HNW individuals increasing by 12 percent to 592,000.
Alongside the rising affluent population, Asia is experiencing significant growth in family offices. Between 2020 and 2022, the number of family offices in Singapore alone almost trebled from 400 to 1100[2]. This trend mirrors the growing need of wealthy individuals and families seeking a more holistic approach towards wealth management and an increased focus on legacy and well-being.
AIA Wealth Centre, located at Six Battery Road, is a one-stop wealth centre dedicated to offering holistic wealth management services for affluent and HNW customers that is accessible only by invitation. Beyond traditional wealth preservation and accumulation consultation, customers have access to a specialised panel of experts on areas such as legal, tax and trusts. This multi-disciplinary approach ensures that clients achieve their personal financial goals and well-being aspirations within a holistic framework. It is a strategic investment by AIA Singapore to demonstrate the insurer’s commitment in providing tailored solutions and unparalleled experiences to clients, within an exclusive space. This commitment to exclusivity reflects AIA Singapore’s deep understanding of the needs and aspirations of its affluent and HNW clients.
The company’s initiative is also underpinned by its strong commitment to Singapore’s vision of becoming a premier global financial centre. This strategic focus aims to attract wealth across the region and contribute to Singapore’s economic prosperity, while bolstering Singapore’s position as a trusted, vibrant, and well-regulated financial centre for discerning investors.
Wong Sze Keed, Chief Executive Officer, AIA Singapore, said, “The launch of AIA Wealth Centre and AIA International Wealth, demonstrates our commitment to our wealth strategy as we reaffirm our strategic focus to be the pre-eminent insurer to address the needs of the growing affluent and HNW client segment in Singapore as well as across the region. What differentiates us is, we are backed by more than 100 years of legacy and leadership focusing across 18 pan-Asian markets, where we have the benefit of collective knowledge and expertise of the AIA Group. Our deep understanding of the Asian wealth market is enhanced by AIA Investments’ strong capabilities and opportunities to invest globally through the world’s finest fund managers.
As Asia’s wealth landscape flourishes, we are fortuitously located in Singapore with its remarkably advanced infrastructure and regulatory framework, and at the forefront of providing affluent and HNW individuals and families with bespoke solutions to ensure wealth generation and inter-generational wealth transfer.”
AIA International Wealth, a wholly-owned subsidiary of AIA Singapore leverages on the strengths of Singapore as a trusted financial hub, focused on helping the affluent and HNW customers to grow and manage their wealth. This is delivered through a specially curated suite of insurance solutions, tapping onto AIA’s longstanding heritage in wealth management and insurance expertise to better cater to customers’ specific financial needs.
Elevated experience at AIA Wealth Centre
Established in 1931, AIA Singapore has been part of the Singapore transformation story, evolving to a first world nation and thriving across generations. AIA Wealth Centre symbolises AIA’s commitment in helping our affluent and HNW customers create legacy that transcends across generations through its “Wealthbeing” philosophy. The centre’s experience embodies AIA’s “Wealthbeing” theme and pays tribute to the strength and resilience of Singapore, as it grew to be a premier wealth and health hub today.
Commemorating the grand opening and as part of AIA Singapore’s environmental, social and governance (ESG) commitment to create a more sustainable society for our customers and community, the company commissioned local artist, Natalia Tan, where sustainability is at the core of her practice to create an art installation, made with various types of recycled and sustainable materials. To showcase that success is a collaborative process, invited guests at the launch event contributed to the creation of the tapestry artwork through an engaging and interactive experience guided by Natalia. The co-created art installation, completed during the launch, will also be permanently featured as part of AIA Wealth Centre’s art collection, amongst many others from esteemed Singaporean artists such as Lim Tze Peng, Low Puay Hua and Vincent Chua. These art pieces embody the “Wealthbeing” theme, effectively showcasing AIA Singapore’s commitment to support the holistic well-being and wealth goals of their clients.
For more information on AIA Wealthbeing and AIA Wealth Centre, please visit: aia.com.sg/wealthbeing.
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AIA
AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets – wholly-owned branches and subsidiaries in Mainland China, Hong Kong SAR[1], Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, New Zealand, the Philippines, South Korea, Sri Lanka, Taiwan (China), Vietnam, Brunei and Macau SAR[2], and a 49 per cent joint venture in India. In addition, AIA has a 24.99 per cent shareholding in China Post Life Insurance Co., Ltd.
The business that is now AIA was first established in Shanghai more than a century ago in 1919. It is a market leader in Asia (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$286 billion as of 31 December 2023.
AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia, AIA serves the holders of more than 42 million individual policies and over 18 million participating members of group insurance schemes.
AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock codes “1299” for HKD counter and “81299” for RMB counter with American Depositary Receipts (Level 1) traded on the over-the-counter market under the ticker symbol “AAGIY”.
AIA Wealth Centre
The newly opened AIA Wealth Centre is accessible only by invitation, will offer tailored solutions and unparalleled experiences to regional and domestic affluent and HNW clients.
Overseeing Singapore’s iconic landmarks including the Singapore River, National Gallery Singapore and Esplanade – Theatres on the Bay reflecting the dynamic spirit of Singapore, AIA Wealth Centre is a one-stop centre dedicated to providing holistic wealth management services. Beyond insurance consultation, experts from various disciplines join hands to provide clients with professional advisory on trust, legacy, tax and legal matters.
It is designed as an exclusive, refined space which facilitates private and collaborative discussions between our clients and their financial consultants or wealth management consultants as well as a versatile multifunctional area for exclusive lifestyle events. Meeting rooms are uniquely named after our “Wealthbeing” philosophy such as Heritage, Harmony, Altitude, Legacy and others. AIA Wealth Centre incorporates calming design elements and a sophisticated palette of colours to create a relaxing atmosphere, bolstered with curated artworks that speak to AIA’s “Wealthbeing” philosophy.
Stepping into AIA Wealth Centre, guests are greeted by the subtle fragrance of a tea ambient scent. As you take a deeper breath, the lingering hints of citrus notes, mint and thyme leaves unfold, evoking a sense of calmness, warmth, and harmony.
Within the meticulously curated environment, one’s attention is drawn to an art corridor celebrating works by local artists such as Koeh Sia Yong, Low Puay Hua, Choo Ai Loon, Simon Wee, and more. More artworks including specially commissioned calligraphy by renowned Singaporean calligrapher, Nai Swee Leng, a master of Chinese ink paintings and calligraphy and Lim Tze Peng, who captured the essence of prosperity and well-being in his calligraphy piece that symbolically aligned the harmony of the landscape with the prosperity and health of individuals and communities are featured in the meeting rooms, each a sanctuary of collaboration, exuding modern elegance while promoting a sense of purpose and focus. All artworks in the AIA Wealth Centre signifies “Wealthbeing” through its representation of prosperity, legacy and longevity.
Commemorating the grand opening and as part of AIA Singapore’s ESG commitment to create a more sustainable society for our customers and community, the company commissioned local artist, Natalia Tan, where sustainability is at the core of her practice to create an art installation, made with various types of recycled and sustainable materials. To showcase that success is a collaborative process, invited guests at the launch event contributed to the creation of the tapestry artwork through an engaging and interactive experience guided by Natalia. The co-created art installation, completed during the launch, will also be permanently featured as part of AIA Wealth Centre’s art collection. It embodies the “Wealthbeing” theme, effectively showcasing AIA Singapore’s commitment to support the holistic well-being and wealth goals of their clients.
Adding a touch of exceptionality, bespoke cookies handcrafted with the finest ingredients by Singaporean artist and dessert chef Janice Wong exclusively for the AIA Wealth Centre, will be served. Guests will also be invited to enjoy uniquely concocted “Prosperity” and “Wellness” kombucha drinks, brewed with a blend of fruits and floral, by Kiki’s Reserve.
