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Aviva sees strong growth in Singapore for 1H

Aviva's Singapore life insurance business saw the value of new business (VNB) expand by 49 per cent year-on-year to S$77.5 million.

SINGAPORE: British insurer Aviva has reported strong growth for its Singapore operations in the first half of this year. For the six months ended June 30, Aviva's Singapore life insurance business saw the value of new business (VNB) expand by 49 per cent year-on-year, to S$77.5 million.

Over the same period, bancassurance sales grew 48 per cent - as a result of continued momentum from a successful partnership with DBS Bank, while sales through independent financial advisers rose 26 per cent, driven by strong protection sales.

Aviva said its general insurance business in Singapore remained "broadly flat" in a soft car market, while sales from Navigator, the British insurer's unit trust platform, was up 5 per cent to S$1.9 billion.

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