AIA moves into wealth with annuity launch planned
AIA New Zealand is moving into the wealth management market with the launch of AIA Wealth and plans to introduce an annuity product later this year.
The move will take the life and health insurer into retirement income and investment products, extending its traditional focus on protection into the accumulation and decumulation markets.
AIA says its first retirement income product will be a straightforward annuity, with a limited launch involving about 10 advisers planned for late October or early November.
AIA's Singapore-based asset management capability will be used for the investment side of the business.
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