The Dutch pension asset manager's Asia Pacific head of real estate says his team has just had one of its busiest years ever and that 2021 is looking similarly promising.
Phipps is charged with extending AvivaÆs product distribution while Law will be responsible for product development and branding activities for the companyÆs life business.
Since entering the Hong Kong market in 2002 Aviva has become the 12th biggest insurance provider in terms of annual premium equivalent and, according to Law, aims to become a top 10 provider over the course of this year.
ôOur business is focussed on two main distribution channels,ö he adds. ôWe sell through the bancassurance model through our link-up with DBS and through the independent financial adviser market, which together make up 40% of Hong KongÆs insurance market.ö
Aviva offers a full suite of insurance products including investment-linked, single premium, life and medical plans. The range includes fund link-ups with major Hong Kong investment providers including Fidelity and, Law says, Aviva has a key advantage over its market rivals in the form of its Singapore administration hub which he says is able to process claims and applications in real time for Hong Kong customers.
Aviva was formed in 2000 after the merger of British insurers CGU and Norwich Union.
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The RM82.64 billion ($20.6 billion) Malaysian Hajj fund, which recently completed a restructure, is looking to diversify globally but remains cautious of risky assets.
Mega players Nippon Life and Dai-ichi Life are looking for opportunities in higher-yield single-A US corporate bonds, which offer more appealing yields than stagnant domestic offerings.