Life insurance company joint venture for Taiwan

Fri, 20 Oct 2006

Aviva, the largest insurance group in the UK, are setting up a round of exclusive meetings to capitalise on the life insurance industry in Taiwan .

Aviva may go into partnership with the Taiwanese insurer First Financial, with the aim of securing a dominant market share of the island’s life insurance policies . The deal will bring together the product development expertise of Aviva with the financial holding power of First Financial.

First Financial are an ambitious company looking to increase their revenue stream. Aviva are looking to secure greater shares in Asian markets in the insurance field. Rival firm Prudential have traditionally been large player in the Asian insurance market.

Aviva have concentrated more on Europe, but the company are looking for opportunities in the region. An analyst at Oriel Securities in London said: "I can't say it's surprising. Aviva is a company that has done a lot of joint ventures with banks, and Asia is certainly an area they are looking to expand in."

Aviva are the latest in a whole chain of large foreign investors who have sought to expand into this region.
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