Additional Information
Market: LSE, NYSE(ADR)
Sector: Insurance
EPIC: AV.
Latest Price: 372.35p  (0.39% Ascending)
52-week High: 480.78p
52-week Low: 266.80p
Market Cap: 10,819.94M
1 year chart
1 day chart
Watchlist/Portfolio

Add to watchlist:

Only registered members can add into watchlist !

Register here !

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.

Pdf

Insurer Aviva enters Indonesia with PT Asuransi Wahana Tata JV

18th Mar 2010, 12:50 pm 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.

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.