Aviva, Astra Int'l. Ink JV In Indonesia - Quick Facts

(RTTNews) - PT Astra International Tbk, Indonesia's largest publicly listed company and Aviva plc (AV, AV.L), the UK's largest insurer, reached an agreement to form Astra Aviva Life, a 50-50 joint venture to sell and distribute life insurance products in Indonesia.

Astra Aviva Life would be the preferred provider of a range of life insurance products to Astra and its units. Astra Aviva Life would enter distribution arrangements with several Astra group companies, including PermataBank, subject to regulatory approvals. Also, the joint venture would offer life insurance to the wider consumer market through a variety of digital, agency and partner channels.

Established in 1957, Astra serves over 10 million customers per year through market leading businesses in six divisions such as automotive, financial services, heavy equipment & mining, agribusiness, infrastructure & logistics, and information technology. It includes 179 companies comprising subsidiaries, associates and jointly controlled entities and employs more than 197,000 people across Indonesia.