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.......