Aviva embraces the bear - developing Aviva's new Russian business

Abstract

When Aviva decided to enter the Russian market, our goal was to establish a top 5 market position over a 5 year period. At that time, we had no local presence at all and, even more challenging, the concept of life assurance was relatively underdeveloped in Russia. There were few international insurers present in the market and a very small number of national providers, although some of these had good scale.