Aviva announces exit from Indonesia
Aviva plc has announced that it has agreed to exit Indonesia by selling its entire shareholding in its joint venture in Indonesia, PT Astra Aviva Life, to Aviva’s joint venture partner, PT Astra International Tbk.
The transaction is expected to complete in Q4 2020 and is subject to certain closing conditions, including regulatory approval in Indonesia and the completion of Bangkok Bank Public Company Limited’s (“Bangkok Bank”) acquisition of PT Bank Permata Tbk (“Permata Bank”), Aviva Indonesia’s bancassurance partner. The shareholders of Bangkok Bank approved the acquisition of Permata Bank on 5 March 2020.
Authored by Aviva
About Aviva
Aviva Insurance Limited is one of the UK’s leading insurance companies, part of the Aviva group with 34 million customers Worldwide. Aviva Insurance has been in the insurance business for more than 300 years.
In UK commercial, the insurance market remains challenging for insurance brokers and customers, due to the ongoing economic conditions. Aviva Insurance are focusing on improving our processes to ensure Aviva provide commercial customers with insurance cover at an acceptable price. Insurance brokers also recognised our excellent customer service by voting us Insurance Times General Insurer of the Year in 2012, for the second year running. youTalk-insurance sharing Aviva insurance news and video.