Aviva plc ("Aviva") notes recent media speculation regarding its Asian businesses. Following a thorough review of options for the Singapore business, including seeking offers for the business, Aviva has concluded that the best value for shareholders will be achieved by retaining the business.
Aviva can also confirm that its joint venture in China will be retained, given the scale of the market, excellent relationship with its partner COFCO and the high growth prospects.
Aviva's Singapore and China business units delivered double digit operating profit growth in 2018 and are earning attractive returns. Both countries are expected to pay dividends to group centre in 2019.
Aviva is continuing to explore strategic options for its operations in Hong Kong, Vietnam and Indonesia, with its respective partners in each country.
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Notes to editors:
- Aviva is a leading international savings, retirement and insurance business.
- Our aim is to earn our customers’ trust as the best place to save for the future, navigate retirement and insure what matters most to them. Last year, we paid c.£33 billion in claims and benefits on behalf of our 33 million customers.
- We operate through five business divisions: Investments, Savings & Retirement; UK Life; General Insurance; Europe Life; and Asia Life; and focus on three strategic priorities: deliver great customer outcomes, excel at the fundamentals and invest in sustainable growth.
- Total group assets under management at Aviva group are £501 billion (as at 30 June 2019) and our Solvency ratio is 195% (3Q19). Our shares are listed on the London Stock Exchange and we are a member of the FTSE 100 index.
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