British insurance giant Aviva has completed the sale of its entire 49% shareholding in Taiwanese joint venture First Aviva Life (Aviva Taiwan) to its partner First Financial Holding (FFH).

The divestiture of Aviva Taiwan was originally announced in October 2017, after a review of the business and Aviva’s strategic decision to refocus its Asian business on core markets where it sees potential of growth.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

In its October 2017 statement, Aviva said: “Following a strategic review of Aviva Taiwan, Aviva concluded that the business is not central to the group’s strategy to focus on markets where it can achieve scale and profitability or have a distinct competitive advantage.”

Aviva Asia executive chairman and Aviva Digital global chairman Chris Wei said: “We have refocused Aviva’s Asian business on core markets where we have excellent opportunities to grow.

Financial terms of the transaction were not revealed.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.