Axa Investment Managers expects to lose more than two thirds of the €50bn it manages for Friends Life to Aviva Investors following the latter’s acquisition of Friends Life earlier this year.
Singapore-based Professional Investment Advisory Services (PIAS), which is majority owned by Aviva, has appointed Winson Yap to its newly-created role of chief distribution officer.
Aviva has been fined by the Monetary Authority of Singapore for breaching the Financial Advisers Act.
Life insurance giant, Friends Provident International, has named its new chief executive and chairman who will succeed John Van Der Wielen when he leaves the firm at the end of this month.
Insurance giant, Friends Life, has apologised after U-turning on its decision to offer new pension flexibilities to thousands of UK customers.
Chris Wei, chief of Aviva’s global life insurance arm is tasked with driving growth in the Asia region after the firm’s recent mega-merger with Friends Provident International.
Global asset manager Aviva Investors has appointed James Tothill as its head of third party sales.
Friends Provident International, a major player in the Asia and the Middle East markets, will emerge from its takeover by UK insurance giant Aviva largely unscathed, according to Chris Wei, Aviva’s Asia chairman.
The Asian arm of Manulife has sealed a $1.2bn deal to sell its insurance products with Singapore bank, DBS, marking the end of the bank’s 14-year partnership with Aviva.
Friends Provident International’s executive chairman John Van Der Wielen is to leave the group, as shareholders yesterday backed Aviva’s takeover deal of Friends Life.
British insurers Aviva and Friends Life Group, which agreed a £5.6bn merger last December, have both reported better-than-expected annual profits for 2014.
Aviva has said its £5.6bn takeover of Friends Life will lead to around 1500 job losses.
