The UK 's Aviva and Chinese online giant Tencent plan to form a joint venture with private equity firm Hillhouse Capital to launch a digital insurance product in Hong Kong . In Singapore VNB improved by 14% to £44m ($55m) following the successful launch of new distribution channels (Aviva Financial Advisers and Affinity channel), as well as growth in group business. The companies , which are seeking regulatory approval for the venture , struck a deal earlier this year over Aviva 's life insurance business to lead the way for the online offering . “ With their low insurance penetrations , fast growing economies , expanding middle classes and rising numbers of high - net - worth people , we want to capitalise on the significant opportunities ” in Asia , said the regional executive chairman Chris Wei .
The UK 's Aviva and Chinese online giant Tencent plan to form a joint venture with private equity firm Hillhouse Capital to launch a digital insurance product in Hong Kong . The companies , which are seeking regulatory approval for the venture , struck a deal earlier this year over Aviva 's life insurance business to lead the way for the online offering . “ With their low insurance penetrations , fast growing economies , expanding middle classes and rising numbers of high - net - worth people , we want to capitalise on the significant opportunities ” in Asia , said the regional executive chairman Chris Wei .