Aviva, Woori pay $146 million for KoreaÆs LIG Life

UK insurer Aviva is on a growth path in Asia, with CEO Andrew Moss targeting at least 20% annual growth from the region.

Aviva, UKÆs largest life insurance group, has announced a W137.17 billion $146 million acquisition of a 91.65% stake in South KoreaÆs LIG Life Insurance together with KoreaÆs largest financial holding group Woori Finance Holdings. Aviva will hold 40.65% of the Korean life insurer once the deal is completed.

LIG Insurance, the largest shareholder of LIG Life, is a listed company on the Korean Exchange. It has a market capitalisation of W1.047 trillion $1.1 billion as of the close of...

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