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The initial paid up capital of the company -- First-Aviva -- will be 34 million pounds (T$2.25 billion), Aviva said, though First Financial said on Thursday it plans to eventually raise the investment to T$5 billion.
The move signals First Financial's ambition to broaden its revenue stream in a highly competitive domestic banking market, from which it derives the bulk of its business.
"Aviva's entry into Taiwan further extends our leading position in international bancassurance and we're excited by the potential of the Taiwanese life insurance market, which is the 4th largest in Asia," Aviva Executive Director Philip Scott said. "The prospects for future growth in the pensions market are particularly positive." Continued...
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The initial paid up capital of the company -- First-Aviva -- will be 34 million pounds (T$2.25 billion), Aviva said, though First Financial said on Thursday it plans to eventually raise the investment to T$5 billion.
The move signals First Financial's ambition to broaden its revenue stream in a highly competitive domestic banking market, from which it derives the bulk of its business.
"Aviva's entry into Taiwan further extends our leading position in international bancassurance and we're excited by the potential of the Taiwanese life insurance market, which is the 4th largest in Asia," Aviva Executive Director Philip Scott said. "The prospects for future growth in the pensions market are particularly positive." Continued...
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