Singapore-based AIA unveils its first sustainability report in 2024, highlighting advancements in Environmental, Social, and Governance (ESG) practices. The report also emphasizes mental health support and comprehensive wellness initiatives.

Singapore-based AIA unveils its first sustainability report in 2024, highlighting advancements in Environmental, Social, and Governance (ESG) practices. The report also emphasizes mental health support and comprehensive wellness initiatives.

In a significant move towards transparency and commitment to sustainability, AIA Singapore has launched the AIA Sustainability Report 2024 titled "Sustaining Healthier, Longer, Better Lives." The report, available at Environmental, Social and Governance | About AIA | AIA Singapore, covers progress made across five strategic pillars of AIA's Environmental, Social, and Governance (ESG) strategy.

The report is tagged with ESG, insurance, investment, sustainable development, and mental health, reflecting AIA Singapore's focus on these critical areas.

Health & Wellness: The report highlights AIA Singapore’s efforts to address growing public concerns such as the protection gap in health insurance, mental health challenges, inflation, and rising healthcare costs. It champions mental health and holistic wellness, emphasizing actions that support customer wellbeing and community resilience. The company integrates these initiatives into its core strategy to promote healthier and longer lives for Singaporeans.

Sustainable Investment: ESG governance is embedded deeply into AIA Singapore’s investment decisions and enterprise strategy, positioning sustainability as a key driver of long-term financial performance and resilience. The company aligns capital with its purpose to strengthen risk management and unlock sustainable value while committing to healthier outcomes in a changing world.

Sustainable Operations: The report stresses integrating ESG considerations across core processes, including managing climate-related risks, implying efforts toward minimizing environmental impact and promoting operational sustainability.

People & Culture: The report reflects a company culture that values sustainability as integral to future planning and operations, supporting long-term societal value and community well-being. This includes promoting inclusive practices and supporting employee and community mental health.

Effective Governance: AIA Singapore’s leadership underscores ESG governance as a strategic enabler embedded throughout the organization. Strong governance frameworks support transparent reporting, risk management, and alignment of business decisions with sustainability goals, enhancing enterprise resilience and ethical operations.

Notable mentions in the report include AIA Singapore's expansion of inpatient plans to automatically include inpatient mental care at no additional premiums, reflecting the company's focus on mental health. Additionally, the report might highlight AIA Singapore's launch of AIA Ultimate Critical Cover, a market-first, affordable, and comprehensive critical illness plan in 2024.

Furthermore, AIA Singapore has forged an exclusive partnership with WhiteCoat, providing over 1 million insured customers with affordable telemedicine and health services. This partnership underscores AIA Singapore's commitment to delivering better health outcomes and expanded access to quality care.

Wong Sze Keed, CEO of AIA Singapore, stated that sustainability is integral to their operations and future planning. Liu Chun Yen, Chief Investment Officer and Head of Sustainability, AIA Singapore, emphasized the strategic importance of ESG governance.

The report is relevant to the topics of Corporate Responsibility, Policy & Finance, and is applicable to Global, Singapore, and Southeast Asia regions. It provides updates on AIA Singapore’s delivery of better health outcomes and expanded access to quality care, positioning the company as a leader in sustainable business practices.

1. AIA Singapore's AIA Sustainability Report 2024 emphasizes their focus on mental health, as seen in the expansion of inpatient plans to cover mental care and the addition of mental health initiatives into their core strategy.
2. Sustainability is a key driver of long-term financial performance and resilience for AIA Singapore, as they align their capital with their purpose to strengthen risk management and unlock sustainable value.
3. In alignment with their commitment to sustainability, AIA Singapore has forged a partnership with WhiteCoat, offering over 1 million insured customers affordable telemedicine and health services, contributing to better health outcomes and expanded access to quality care.

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