SINGAPORE - Manulife Singapore launched on Monday a new subsidiary to provide a wide array of life insurance, savings and retirement needs offerings, from not just Manulife, but also other financial services providers such as Aviva and Tokio Marine Insurance Singapore.

Manulife Singapore said the move will strengthen its distribution network, and provide an adiditonal avenue for consumers to access its financial solutions.

Majority-owned by Manulife Singapore, Manulife Financial Advisers is led by industry veteran Koh Hoe Shin as chief executive. With around 250 representatives, it is among the top five financial advisory firms here.

Manulife said the new firm is also the first financial advisory in Singapore to feature a shareholding partnership between a multinational corporation, Canada-based Manulife Group, and owner-operators. Holding their own stakes in Manulife Financial Advisers are its three vice-presidents of sales - Stephen Chew, Tan Sia Keng and Tony Cheng.