UK-based insurer Aviva is reportedly in talks with Astra International to distribute its products in Indonesia, as part of plans to expand its operations in Asia.
Aviva CEO Mark Wilson of, who hired Khor Hock Seng as CEO of Aviva Asia just after weeks of his appointment, is said involved in the discussions with Astra, reported the Telegraph.
However, Aviva has not officially disclosed details of the deal.
Astra is a division of Jardine Matheson Holdings, a conglomerate that has operations in insurance, construction and engineering, and retailing.
The proposed deal would see the Astra brand leveraged with the assistance of Aviva’s expertise in selling products through channels other than its own.
Apart from Indonesia, Aviva is also planning to expand its presence in China and Singapore, reported the news agency.
In 2010, Aviva forayed into the Indonesian market by acquiring 60% of health insurer PT Asuransi Winterthur Life Indonesia.
Astra, which is also looking for a life insurance partner in the country, is known to have discussed with Aviva competitors like Axa and Prudential, which currently holds about 20% share in Indonesian life insurance market.