Aviva, which had largely turned its back on Asia in 2005, is reported to make a comeback in the region, a move that comes weeks following its rival Prudential revelation of a $35.5 billion (£23.8 billion) acquisition bid for AIG's Asian business, AIA.

Aviva, which operates a significant life insurance business in Asia, sold almost all its non-life insurance operations five years ago.

The firm is revealed to use Singapore as its launch podium for the expansion, initiating with direct online car insurance. It finally hopes to include home and travel insurance across the region.

"Our entry into Singapore marks the first step in our plan to penetrate the rapidly expanding general insurance market in Asia", quoted, Simon Machell, the Chief Executive of Aviva Asia Pacific. "Our online model enables us to pass on significant cost savings along with greater convenience and flexibility".

Aviva posses a small working hand in general insurance sector in Sri Lanka and Malaysia, however, seeks to expand its business sphere in the area.

As per the Prudential estimations, the region will account for 40 per cent of insurance premiums in a worldwide market that is prepared to reach £2 trillion by 2014.