Aviva sells Asian stake

Aviva is to sell its stake in a South Korean business. Aviva is to sell its stake in a South Korean business.

Tuesday, April 15, 2014
10:59 AM

Norwich-based insurer Aviva has boosted its capital surplus by £200m after selling its entire stake in a South Korean business.

To send a link to this page to a friend, you must be logged in.

The EDP Top100 company has sold its 47pc share in Woori Aviva Life Insurance to the NongHyup Financial Group (NHFG) – with Woori Financial Holdings Company also selling its stake to NHFG as part of the deal.

The insurer said the move was consistent with its strategy to focus on markets where it had a competitive advantage.

Khor Hock Seng, chief executive of Aviva Asia, said: “Aviva has a strong presence in China and South East Asia, which are key future cash generators for the group. This deal provides further focus to our Asian businesses, which increased value of new business by 65pc in 2013.”

0 comments

Comments

Welcome , please leave your message below.

Optional - JPG files only
Optional - MP3 files only
Optional - 3GP, AVI, MOV, MPG or WMV files
Comments

Please log in to leave a comment and share your views with other Eastern Daily Press visitors.

We enable people to post comments with the aim of encouraging open debate.

Only people who register and sign up to our terms and conditions can post comments. These terms and conditions explain our house rules and legal guidelines.

Comments are not edited by Eastern Daily Press staff prior to publication but may be automatically filtered.

If you have a complaint about a comment please contact us by clicking on the Report This Comment button next to the comment.

Forgotten your password?

Not a member yet?

Register to create your own unique Eastern Daily Press account for free.

Signing up is free, quick and easy and offers you the chance to add comments, personalise the site with local information picked just for you, and more.

Sign up now

ADVERTISEMENT

ADVERTISEMENT

Most read business stories

Alan Wright with his Shower Power Booster invention that was rejected by Dargon's Den. Photo: Steve Adams

Dragons’ Den failure has not held back Norwich entrepreneur

The words ‘I’m out’ too often spell the end for an invention before it has even left the drawing board.

Read full story »

loading...

ADVERTISEMENT

ADVERTISEMENT