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Aviva's Singapore unit establishes financial advisory firm

Singapore's Aviva Ltd. established its own financial advisory firmto offer financial planning services to customers, The Business Times reported July 25, citing the insurer's CEO,Nishit Majmudar.

The new firm, which is called Aviva Finanical Advisers,employs about 280 financial advisers who are licensed to advise on life,health, general insurance and investment products.

Majmudar said he hopes the establishment of the financialadvisory firm will prompt Singapore's insurance industry to shift towards moremature markets such as the U.K. and Australia, where most financial advisersoffer solutions from multiple product providers.

Aviva is a unit of London-based .