PT Astra International Tbk and Aviva plc signed an agreement to form Astra Aviva Life, a 50-50 joint venture to sell and distribute life insurance products in Indonesia. Astra Aviva Life will be the preferred provider of a range of life insurance products to Astra and its subsidiaries. Subject to regulatory approvals, Astra Aviva Life will enter into distribution arrangements with a number of the Astra group companies, including PermataBank.

The joint venture will also offer life insurance to the wider consumer market through a variety of digital, agency and partner channels. The agreement is subject to regulatory approval. The joint venture is expected to be launched later in 2014.