Several insurance companies are in the running for a joint contract to provide insurance for the Singapore Armed Forces (SAF) and the Ministry of Home Affairs (MHA). These include Aviva, AIA, Great Eastern, and Income.
The particular insurance deal includes a multi-million-dollar group employee benefits contract for the two government agencies.
Aviva Singapore, the current insurer of SAF, is reportedly in the lead to secure the contract, and that the deal is already being finalized with the concerned government agencies. Meanwhile, AIA holds the current contract to insure the MHA.
The bidding for the contract was announced by the Ministry of Defence and the MHA on December 24, and the bid submission period was closed in mid-February.
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