The increase in regional and domestic wealth has spurred AIA Singapore to launch AIA Wealth Centre for customers in Singapore.

AIA Singapore has just launched AIA Wealth Centre, a service for regional and domestic affluent and high net worth individuals and families.

AIA Singapore’s wealth strategy is a response to the projected surge in Asia’s affluent population, which is expected to grow 61 per cent to reach 28.2 million individuals by 2026, compared with 17.5 million in 2021. With the number of HNW individuals increasing by 12 per cent to 592,000, Singapore is also expected to see its share of this growth, the firm said in a statement.

Alongside the rising affluent population, the number of family offices in Asia is expanding. Between 2020 and 2022, the number of family offices in Singapore alone almost trebled from 400 to 1100. This trend mirrors the need of wealthy individuals and families seeking an approach towards wealth management and an increased focus on wellbeing.

AIA Wealth Centre, located at Six Battery Road, is a one-stop wealth centre which offers wealth management services for affluent and HNW customers; it is accessible by invitation only. Beyond traditional wealth preservation and accumulation consultation, customers can access a panel of experts on areas such as legal, tax and trusts. It is an investment by AIA Singapore to demonstrate the insurer’s commitment to providing tailored solutions and unparalleled experiences to clients, within an exclusive space. The firm said that this commitment reflects AIA Singapore’s understanding of the needs of its affluent and HNW clients.

The company said the initiative is also underpinned by its commitment to Singapore’s vision of becoming a premier global financial centre. It aims to attract wealth across the region and contribute to Singapore’s economic prosperity, while bolstering Singapore’s position as a trusted, vibrant, and well-regulated financial centre for discerning investors. 

AIA International Wealth, a subsidiary of AIA Singapore, said it uses the strengths of Singapore as a trusted financial hub, aiming to help affluent and HNW customers to grow and manage their wealth. This is delivered through a suite of insurance solutions, tapping onto AIA’s heritage in wealth management and insurance expertise to cater to customers’ specific financial needs.

To commemorate the grand opening and, as part of AIA Singapore’s environmental, social and governance (ESG) commitment to creating a sustainable society for its customers, the company commissioned local artist, Natalia Tan. Sustainability is at the core of Tan's practice, who has created an art installation made with various types of recycled and sustainable materials.

The newly-opened AIA Wealth Centre. which is accessible by invitation only, will offer tailored solutions and unparalleled experiences to regional and domestic affluent and HNW clients.