Aviva sells Taiwan branch for $1

Fri, 13 Oct 2017 | BUSINESS SALE

UK insurance firm Aviva, which has about 33 million customers globally, is set to sell the Taiwanese branch of its business for a symbolic amount of $1.

According to a statement from Aviva, the decision came after a review of the business which found it did not fit with the group’s aim of focusing on markets where it can achieve scale or have a distinct competitive advantage.
“This was not about financials, it was more a strategic decision,” a spokeswoman for Aviva said.

The company will transfer its 49 per cent interest in a joint venture to local partner First Financial Holding.
This year, the insurer has also sold its stake in three Spanish joint ventures, its Italian joint venture and part of its French business, as it tries to focus on its core markets of Britain and Canada.

Aviva first entered Taiwan in 2007 but considered leaving in 2010 and 2012 when they realised how difficult it was to turn a profit in the country's low-rate environment. They were stopped after opposition from their regulators.

The company have said they will now focus on “markets where it can achieve scale and profitability or have a distinct competitive advantage,” it said in a statement.

Find a business for sale
Subscribe to Business Sale Report


Share this article



Latest Businesses for Sale

Roofing Contractor
North East, UK

Provides roofing services and safety system products such as slating, tiling, waterproof liquid roofing, over cladding, sheeting, felting, safety netting and guttering. Works with clients from sectors such as education, healthcare, national retail ch...

Asking Price: Offers Invited
Turnover: £5,600,000

FREEHOLD


Air Conditioning, Heating & Ventilation Contractor
West Midlands, UK

Air conditioning, heating & ventilation contractor offering consultancy, design, sales & installation to commercial, industrial & residential properties. Supplies & installs market leading products to SME’s & blue-chip customers operating in a range...

Asking Price: Offers Invited
Turnover: £1,770,000

Supply & Servicing of Vending Machines & Related Equipment
East Anglia, UK Wide

Supplies, services & maintains a range of vending equipment such as coffee machines, snack vending machines, cold drink machines, water coolers & slush machines. Companies involved in the supply, filling & servicing of food & drink vending machines,...

Asking Price: Offers Invited
Turnover: £800,000


View more businesses for sale

News Search

Latest News

 
21
 
Nov
 

Buyer sought as North East contractor enters administration | ADMINISTRATION

A buyer is being sought for Pro-Fix Installations after the ...

 
20
 
Nov
 

Swindon waste-to-gas plant construction to resume after administration | ADMINISTRATION

An unfinished waste-to-gas facility in Swindon has secured &...

 
19
 
Nov
 

UK government set to approve Cobham takeover | BUSINESS SALE

The British government is poised to approve the $5 billion t...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
20
 
Jan
 

Aviva cuts jobs as part of merger | MERGER

A merger between Aviva and Friends Life will involve the cut...

 
28
 
Jan
 

Sunlight House sold for £34.5m | COMMERCIAL PROPERTY

Sunlight House, a grade ll listed building on Quay Street in...

 
27
 
Feb
 

Commercial property investment returns set to increase | COMMERCIAL PROPERTY

Buying commercial property could become an increasingly prof...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources