Marking its entry into Indonesia’s life
insurance market, Aviva has acquired a 60% take in Asuransi
Winterthur Life Indonesia (AWL), a unit of Indonesian general
insurer Asuransi Wahana Tata (AWT). No financial details of the
deal which includes the formation of a distribution partnership
with AWT were disclosed.

AWL was established in 1990 as a joint venture
between AWT and Swiss insurer Winterthur and was excluded from
French insurer Axa’s acquisition of Winterthur from Credit Suisse
in 2006.

AWL provides life, health, accident, and travel
insurance products to retail and corporate customers. The insurer
ranks among Indonesia’s top-three health insurers and has a 6%
share of the country’s financial institutions’ pensions market.

Distribution is primarily through employee
benefit consultants, brokers and non-exclusive bancassurance
channels.

At the end of 2008, AWL reported total assets
of IDR275bn ($23m) and pension assets under management of IDR760bn.
AWL will be renamed Asuransi Aviva Indonesia.

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