aviva-woori-pay-146-million-for-koreas-lig-life

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 trading on January 29, 2008

The acquisition will give Aviva access to AsiaÆs second largest insurance market after Japan This is part of the groupÆs strategy to diversify away from the...
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