AIA Singapore has opened an AIA Wealth Centre, dedicated to offering services to regional and domestic affluent and high net worth (HNW) individuals and families.
AIA Wealth Centre, located at Six Battery Road in the city-state, is a one-stop wealth centre dedicated to providing wealth management services for affluent and HNW customers that is accessible only by invitation.
Customers have access to a panel of specialists on areas such as legal, tax and trusts. It is a strategic investment by AIA Singapore to demonstrate the insurer’s commitment in providing tailored solutions to clients, within an exclusive space, according to the firm.
“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, said Wong Sze Keed, chief executive officer, AIA Singapore.
The opening on 30 April was attended by Gillian Tan, assistant managing director of the development and international group and chief sustainability officer of Monetary Authority of Singapore. The company commissioned an art installation led by local artist Natalia Tan, and the centre also contains other permanent works by other notable artists.
AIA Singapore’s wealth strategy is a response to the projected surge in Asia’s affluent population, which is expected to grow 61% to reach 28.2 million individuals by 2026, compared with 17.5 million in 2021, according to Knight Frank.
Singapore is also expected to see its share of this growth, with the number of HNW individuals increasing by 12% 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 almost trebled from 400 to 1100, government figures show.
