View more on these topics

Aviva enters Indonesian insurance market with joint venture

Aviva has entered the Indonesian insurance market after acquiring a 60 per cent stake in PT Asuransi Winterthur Life Indonesia.

The joint venture is in tandem with  PT Asuransi Wahana Tata and will see WLI, which has gross assets of £15m and pension fund assets totalling £42m, renamed PT Asuransi Aviva Indonesia.

WLI is  currently a top three provider of health insurance in Indonesia. The firm also has a 6 per cent share in the Indonesian financial institutions’ pensions market. The business works primarily with employee benefit consultants, brokers and non-exclusive banassurance channels.

Aviva Asia Pacific chief executive Simon Machell says: “”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.”

Recommended

Harris Keillar

Turn for the better

The economy is recovering after two brutal years

1

Burgess says Govt and quango workers can’t find cover

Former British Insurance managing director Simon Burgess says some unemployment protection providers are refusing to cover Government workers and employees of quangos such as the FSA. Burgess, who left the insurer to set up his own US protection provider with wife Sara, says he has seen a blacklist outlining which professions some providers deem uninsurable […]

Developing your personal relationships – Webex

Read more 9amFinancial advisers and solicitors working together Presented by Ian Muirhead, director & chairman at Solicitors for Impartial Advice (SIFA) Listen to Ian’s expert insight and experiences of how financial advisers and solicitors can work together to deliver mutual benefit and enhanced client outcomes. Register here 10am Financial advisers and accountants working together Presented […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com