Aviva has decided to keep hold of its operations in China and Singapore, narrowing down the range of its potential disposals in Asia to operations in Hong Kong, Vietnam and Indonesia.
The UK-based insurer in August hoisted a “for sale” sign over its Asian assets, saying at the time that it was “considering a range of options to help these businesses reach their potential.”
News of the change of heart in Asia comes just days before Maurice Tulloch, who become Aviva’s chief executive in March this year, unveils more details of his strategy at an investor day in London. The Asian operations as a whole made profits of £152m in the first half, about a tenth of the group total.
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