AVIVA

Tuesday, September 22, 2009

Aviva is the world’s fifth-largest* insurance group and the largest insurance services provider in the UK.

We are one of the leading providers of life and pension products in Europe and are actively growing our long-term savings businesses in Asia Pacific and the USA.

Our main activities are long-term savings, fund management and general insurance⁴.

We have premium income and investment sales of £51.4 billion^≠ and £381 billion^†† of funds under management. We have 54,000 employees serving over 50 million customers in 28 countries around the world.

Our purpose is to bring prosperity and peace of mind. We will do this by realising our vision: "One Aviva, twice the value".

By working together across our businesses, we will optimise our performance in the global marketplace and maximise the value we can generate for all our stakeholders.

The One aviva triangle has been developed to explain the purpose, vision, strategy and regional performance of the group in a single and straightforward way.

Main business operations

• UK (Life, Insurance and Aviva Investors)
• Europe
• Asia Pacific
• North America
• Aviva Investors

Achievements in 2008

• Delivered life and pension new business sales ahead of analyst expectations with a second consecutive record year in the UK
• Improved our Financial Adviser Service awards rating to four stars in UK and pensions business
• Achieved target of doubling sales in our US life business a year ahead of plan
• Worldwide general insurance combined operating ratio improved to 98% (2007: 100%)
• Voted "General Insurer of the Year" in the UK at the Insurance Times Award for the sixth year running
• RAC was voted by JD Power as the best Roadside Assistance provider in the UK for the third year running
• Won "Life Company of the Year" at the AFA Plan for Life awards in Australia
• Maintained our number one ranking in both fixed indexed annuities and fixed indexed life insurance markets in the US Life business
• Completed the acquisition of VIVAS Health in Ireland
• Signed new bancassurance deals in Spain, Poland, Turkey and Italy
• Maintained good growth in China with a 66% increase following significant expansion of our distribution network
• Expanded our distribution footprint through new joint ventures in South Korea and Taiwan coming on-line
• Successfully launched Aviva Investors, our global asset management business
• Maintained a strong capital and liquidity position. IGD surplus of £2.0 billion and direct access to £1.4 billion of liquid assets with further £2.1 billion of undrawn committed credit facilities
• Embarked on the global rebranding programme with Norwich Union to become Aviva in 2009. Poland and Ireland to complete rebrand in 2010
• Early adoption of market consistent embedded value (MCEV) methodology for our long-term savings business

Worldwide sales**

£51,415m

2007: £50,274m

MCEV operating profit before tax***

£3,358m

2007: £3,065m

IFRS operating profit before tax attributable to shareholders

£2,297m

2007: £2,216m

IFRS total return after tax

£(885)m

2007: £1,498m

Full year dividend

33.00p

2007: 33.00p

Equity shareholders’ funds^‡

£12,912m

2007: £19,998m

Contribution to Group total sales

	%
1: UK	37
2: Europe	42
3: North America	14
4: Asia Pacific	7
Total	100

Facts and figures

• Aviva is the world’s fifth-largest* insurance group.
• The largest insurance services provider in the UK.
• One of the leading providers of life and pensions products in Europe.
• Actively growing long-term savings businesses in Asia Pacific and the USA.
• £51.4 billion¹ premium income and investment sales.
• £381 billion² funds under management.
• 54,000 employees worldwide, including nearly 34,000 in the UK.
• Over 50 million customers worldwide.
• Aviva operates in 28 countries.
• Aviva’s business mix based on group total sales³:
  • 37% UK
  • 42% Europe
  • 14% North America
  • 7% Asia Pacific
• UK General Insurance: As Norwich Union Insurance (NUI) we are the leading general insurer in the UK, with 14% of the total market. We focus on personal and SME (small to medium enterprise) insurance and are also a leading provider of roadside assistance through the RAC.
• UK Life: As Norwich Union we are one of the leading providers of life, pensions and investment products in the UK with a total market share of 11% and a top three position in our key markets of savings, protection, pensions and annuities. Our ambition is to offer products and services that provide financial security and peace of mind for our existing 7 million customers, while attracting new customers and delivering profitable growth for our shareholders.
• Europe: We operate in 15 countries across Europe and are the second largest insurer in the region, providing life, general and health insurance products to more than 20 million customers. Customers are served through a diverse set of distribution channels, including banks, brokers, agents, direct sales force, telephone and the internet. Our ability to operate across distribution channels allows us to meet different customer preferences and respond to market developments.
• North America: Our North America region is comprised of two distinct businesses. In Aviva USA we provide a comprehensive portfolio of life insurance and annuity products to more than one million customers in all 50 states through independent agents and brokers. Through Aviva Canada, we market a wide range of conventional personal and commercial lines insurance to more than three million customers using brokers and affinity groups.
• Asia Pacific: We have been present in Asia Pacific for over 100 years and today operate in nine markets across this region. We are particularly focused on providing long-term savings products through a multi-channel distribution strategy with particular strength in bancassurance and wrap administration. We also sell general insurance products in Sri Lanka and Malaysia and are an established provider of health insurance in Singapore.
• Aviva Investors: Aviva Investors is a global asset management business dedicated to building and providing our clients with focused investment solutions. Our client base ranges from among the largest financial institutions to individuals investing for the future. We operate under a single brand in 15 countries so our clients benefit not only from our unique access to, and experience of, our local markets – but also from our ability to leverage an infrastructure that comes with global representation.
• Aviva has about 616,500 ordinary shareholders, of whom approximately:
  • 97% are individuals, holding 9% of shares
  • 2% are banks and nominee companies, holding 86% of shares
  • under 1% are pension fund managers, insurance companies and other corporate bodies, holding 5% of shares.
• The group has been known as Aviva since July 2002. It was created by the merger of CGU and Norwich Union in May 2000. CGU came from the merger of Commercial Union and General Accident in 1998. Through its founder companies, Aviva can trace its history back for more than 300 years.

Main listing

• London Stock Exchange
• EPIC/Ordinary share symbol: AV

Secondary listings

• Euronext, Paris (CUAC)

All ISINs

• GB0002124963 GB0002162385

Main indices

• FTSE 100
• FTSE Eurotop 300 Life Assur.
• FTSE4GOOD Global 100
• MSCI Pan European
• DJ STOXX 50
• Registered number 2468686

Number of ordinary shares

• 2,621,792,828 at 31 December 2007

Registrar

• Equiniti,
  Lancing
  UK
  Telephone +44 (0) 870 600 0158

Board of Directors

Executive:

• Andrew Moss (CEO)
• Philip Scott (Finance Director)
• Mark Hodges (Chief executive, UK Life)

Non-Executive:

• Lord Sharman of Redlynch (CH)
• Wim Dik
• Nikesh Arora
• Mary Francis
• Richard Karl Goeltz
• Euleen Goh
• Carole Piwnica
• Russell Walls
• Scott Wheway

Senior management:

• John Ainley
• Alain Dromer
• Thomas C Godlasky
• Simon Machell
• Amanda Mackenzie
• Igal Mayer
• Andrea Moneta
• Anupam Sahay

Aviva plc
Registered in England
Registered number: 2468686
Registered office: St Helens, 1 Undershaft, London EC3P 3DQ

Footnotes

• * Based on gross worldwide premiums for the year ended 31 December 2008.
• ** From continuing operations, including our share of associates’ premiums.
• *** From continuing operations, long-term savings results are included on an MCEV basis before adjusting items for 2008 and 2007. Prior years are presented on an EEV basis.
• ^‡ On an MCEV basis for 2008, 2007 and 2006. Prior years are presented on an EEV basis
• ^≠ For the year ended 31 December 2008.
• ^†† At 30 June 2008.
• ¹ For the year ended 31 December 2008.
• ² At 31 December 2008.
• ³ Based on present value of new business premium (PVNBP), which is equal to total single premium sales received in the year plus the discounted value of annual premiums expected to be received over the term of new contracts, expressed at the point of sale.
• ⁴ Typically includes motor, household, creditor, health, commercial motor, commercial property and commercial liability insurance.