Aviva has announced it would retain its business in Singapore and its joint venture in China while continuing to explore options for some other Asian operations, including Hong-Kong, Vietnam and Indonesia.

The insurer stated that it had conducted a “thorough review of options for the Singapore business”, including seeking offers for the business.

The decision to retain its business in China was based on factors such as the scale of the market, “excellent relationship with its partner COFCO and the high growth prospects”.

The firm added that its Singapore and China business units delivered double digit operating profit growth in 2018 and are earning attractive returns.

“Both countries are expected to pay dividends to group centre in 2019.”

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