SINGAPORE, 8 July 2025 – Leading health insurance provider AIA Singapore today announced the launch of the inaugural AIA Sustainability Report 2024, titled "Sustaining Healthier, Longer, Better Lives." The report details the significant progress made across the five strategic pillars of AIA's Environmental, Social, and Governance (ESG) strategy: Health & Wellness, Sustainable Investment, Sustainable Operations, People & Culture, and Effective Governance.
Wong Sze Keed, Chief Executive Officer, AIA Singapore, commented, "Sustainability is an integral part of how we operate and plan for the future. We are steadily integrating ESG considerations into our core processes – from managing climate-related risks to addressing protection and wellness gaps in the community. Our focus remains on actions that support long-term value, improve customer outcomes, and contribute to the resilience of the people and communities we serve."
Liu Chun Yen, Chief Investment Officer and Head of Sustainability, AIA Singapore, added, "ESG governance serves as a strategic enabler, deeply embedded across our investment decisions and enterprise strategy to drive long-term performance and resilience. By aligning capital with our Purpose, we strengthen risk management, unlock sustainable value, and deliver on our commitment to Healthier, Longer, Better Lives in a rapidly evolving world."
Health and Wellness: AIA Singapore has demonstrably delivered better health outcomes, championing financial inclusion and expanding access to quality care. In 2024, recognising Singaporeans' growing concerns around the protection gap, mental health, inflation, and rising healthcare costs, the company introduced targeted initiatives and strategic partnerships to address these challenges.
- Recognising a significant 74% critical illness (CI) protection gap in Singapore1 and affordability as a key barrier, the company launched AIA Ultimate Critical Cover (UCC). This market-first, affordable, and comprehensive CI plan features an unlimited reset benefit, making crucial coverage more accessible, particularly for young adults2.
- In a market-first move, AIA Singapore expanded inpatient plans to automatically include inpatient mental care at no additional premiums, ensuring accessible, high-quality mental healthcare for over 1.3 million employees – approximately one-third of Singapore's workforce3.
- AIA Singapore actively promotes proactive wellness through AIA Vitality, the company's comprehensive wellness programme. Since its inception over a decade ago, AIA Vitality has supported about 100,000 members to live Healthier, Longer, Better Lives by rewarding fitness milestones with exclusive benefits. The programme delivers tangible health improvements: as of December 2024, 71% of members showed improvement in their glucose levels, 48% improved blood pressure, 32% improved their cholesterol level, and 12% had improved body mass index (BMI) readings. This success is mirrored internally, with high engagement rates among AIA employees, reaching close to 80% on the wellness programme in 2024 and the proportion of members achieving higher Vitality statuses also increased, with silver status rising from 63% in 2023 to 68% in 2024, and platinum status increasing from 6% to 11%.
- AIA Singapore also forged an exclusive partnership with WhiteCoat, providing over 1 million insured customers with affordable telemedicine, home-based health screenings, mental wellness services, and paediatric care4. These enhancements bolster AIA's Think Well, the region's first insurer-backed digital mental health platform.
Sustainable Investment: AIA Singapore has created long-term value through sustainable investments, future focus and active engagement for net-zero goals. In 2024, the company advanced blended finance initiatives in Asia and enhanced its investment approach through the AIA Sustainable Multi-thematic Fund and the Osmosis Resource Efficient Core Equity Fund. ESG integration has deepened across investment processes, supported by leadership development and enterprise-wide sustainability training
Sustainable Operations: AIA Singapore has improved the environmental performance of its operations and integrated ESG considerations into sourcing decisions. In 2024, the company empowered seamless digital experiences for customers, significantly reducing paper usage. ESG factors have been incorporated into procurement, and operational efficiency has been improved. Additionally, solar-powered lighting was installed at AIA Alexandra, and smart metrics were implemented across premises in Brunei. Monthly environmental data reporting and green building awards reflect continued dedication to environmental sustainability and employee wellbeing
People and Culture: AIA Singapore has fostered a dynamic learning environment, ensuring equitable processes and promoting a diverse, inclusive culture. In 2024, talent development was enhanced through leadership, coaching, and internship programmes, and workplace culture was strengthened through mentorship and employee engagement initiatives. These efforts have resulted in AIA Singapore achieving the 82nd percentile in employee engagement in Gallup's global finance and insurance industry benchmark.
Effective Governance: AIA Singapore continues to operate at the highest standards of business practices. In 2024, ESG-related risks, similar to other material risks, were managed within the established risk management framework. Controls were strengthened in data privacy, cyber resilience, and financial crime compliance, while ethical conduct and responsible selling were reinforced through robust governance and training.
The full AIA Sustainability Report 2024 can be accessed here: Environmental, Social and Governance | About AIA | AIA Singapore.
