Asia Pacific
We operate across Asia Pacific through joint ventures and wholly-owned operations and provide more than eight million customers with life, general and health insurance products.
The opportunity for Aviva to create franchise value through organic growth in Asia is significant. Robust economic growth, markets with favourable demographics and low life and pension penetration offer attractive long-term prospects in the region. China and India have large populations and relatively high economic growth and are capable of generating a significant proportion of our future new business in Asia.
We are focusing on capitalising on these opportunities and continuing to improve our performance. We have taken action to reshape our product portfolio towards higher-margin products. Our multi-distribution platform is being reinforced by strengthening relationships with our bank partners.
With the strengthening of our multi-channel distribution capability and product portfolio management we are well positioned to benefit from the region’s long-term growth potential.
Hightlights
- Our IFRS operating profit for 2010 was £31 million²
- Total sales for the year increased 25% to £1,911 million² (excluding Aviva Investors Australia sales)
- We are the partner of choice for more than 50 prestigious banks across the region including DBS (South East Asia’s largest bank), Woori (Korea’s largest bank), CIMB (Malaysia’s second-largest bank), IndusInd Bank and Punjab Sind Bank in India, as well as over 10 banks in China.
View our Annual Report and Accounts to learn more about our businesses in Asia Pacific.
² Excludes the Australian life business that was sold on 1 October 2009
