Insider Stories - PT Astra International Tbk (ASII), largest private publicly listed company and Aviva plc, the UK’s largest insurer, signed an agreement to form PT Astra Aviva Life, a 50-50 joint venture to sell and distribute life insurance products in Indonesia.

Astra Aviva Life will be the preferred provider of a range of life insurance products to Astra and its subsidiaries. Subject to regulatory approvals, Astra Aviva Life will enter into distribution arrangements with a number of the Astra group companies. The joint venture (JV) will also offer life insurance to the wider consumer market through a variety of digital, agency and partner channels.

Established in 1957, Astra serves more than 10 million customers per year through market leading businesses in six segments: automotive, financial services, heavy equipment & mining, agribusiness, infrastructure & logistics, and information technology.

Astra consists of 179 companies including subsidiaries, associates and jointly controlled entities and employs more than 197,000 people across Indonesia.

Prijono Sugiarto, President Director of Astra International, this joint venture is in line with Astra’s strategy to continue to expand and diversify, entering new business areas in which we believe we
can create a market-leading business underpinned by company's values and management philosophy.

Mark Wilson, Group Chief Executive Officer of Aviva plc, added the new JV will creates a compelling growth opportunity, underlines their commitment to Asia and supports the strategy of cash flow plus growth.

No further information on how much investment and targeting of customer in 2014.