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Aviva is the world's fifth-largest insurance group and the biggest in the UK. Aviva is one of the leading providers of life and pensions products in Europe and have substantial businesses elsewhere around the world.
Insurer Aviva enters Indonesia with PT Asuransi Wahana Tata JV
Aviva (LSE: AV) is set to enter the Indonesian insurance market through a joint venture with PT Asuransi Wahana Tata. Through the deal, Aviva is acquiring a 60% share in the company’s Indonesian unit, PT Asuransi Winterthur Life Indonesia (WLI). The FTSE100 constituent said the acquisition is consistent with Aviva's long term strategy to build a presence in key markets in South East Asia.
"We are excited by the potential offered by the Indonesian insurance market and the growth prospects offered by this partnership. It is another step in our strategy to build a competitive presence in key markets in Asia to ensure that we benefit from the region's long term potential", Aviva Asia Pacific CEO Simon Machell commented.
As at 31 December 2009, WLI had gross assets of approximately £15m, and it manages pension fund assets totalling £42m.
Aviva noted that WLI is a top three health insurance provider in Indonesia, and has a 6% share in the Indonesian financial institutions' pensions market.
The WLI business will be renamed PT Asuransi Aviva Indonesia upon completion of the deal.

















