The insurer’s incoming chairman John McFarlane will give a strategy presentation to analysts this week, the newspaper said.
This likely means that the insurer have struggled to find the explosive growth engine in Asia. Which presents quite a stark contrast to its most direct competitor Prudential UK, which is coming out as one of the biggest winners of the Asia growth story.
There's something to be really said about the leadership of the two organizations. One person in particular that the industry is referring to, in regards to building of Prudential's Asian franchise is Mark Tucker. Mark had been the growth engine of Prudential's Asian expansion and had been credited by many as its architect.
Unfortunately, Aviva didn't find the person who could have the vision to drive its growth in Asia and as the result it has to scale down its international ambitions and focus on getting things in order at home. Finding it hard to believe that its the same organization that has mounted a takeover attempt at Pru just couple of years ago.
Still, its going to be at least another couple interesting years in Asia as giant international insurers move around the area looking for future sources of explosive growth. Perhaps let Aviva story be a cautionary one to those who think that Asia growth story is a one-fit-all solution.
