Around 200 experienced life agents have moved from Axa Singapore to Great Eastern Financial Advisers, according to the Straits Times.
This is the latest sign of mass scale poaching in the Lion City after in 2016, 244 of Prudential’s agents joined Aviva, and shows, despite disruption attempts, the continued importance of distribution via the human touch for life insurers to keep growing.
An Axa spokesperson told InsuranceAsia News: “A group of our agents chose to continue their careers with a different insurer. Our customers’ best interests and continued protection are our top priority.”
The spokesperson added: “In cases where their servicing agent leaves, we have in place the necessary processes to ensure affected customers continue to receive seamless service. All our customers affected by the departure of this group of agents have been contacted and reassigned new servicing agents.”
The move comes as growth in the Singapore life market has flatlined – in part as a result of the health of the overall Singapore economy which has suffered from the US – China trade war spat.
InsuranceAsia News has reached out to Great Eastern for comment.
 

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