Aviva Newsroom - 14 July 2006

Aviva-COFCO receives branch licence in Hunan, China

14 July 2006

Aviva's joint–venture in China, Aviva–COFCO, has received regulatory approval for a branch to be based in Changsha, the capital city of Hunan. This gives Aviva–COFCO its sixth branch licence in the nation.

Hunan, a Southcentral province, has a population of 67 million people. In 2005, Hunan's gross domestic product (GDP) is RMB647.36 billion and its growth was at 11.6% compared with the national level of 9.9% in the same year.

With another four cities to go before 2010, Aviva is well on its way to its 10X10X10 vision. The latter targets to receive 10% new business market share across 10 cities by 2010.

Aviva is now ranked fifth among foreign joint–venture insurance companies in China. It has six branches and seven sales offices in China. In total, Aviva is present in 13 cities.


Notes to editors:

Aviva is one of the leading providers of life and pensions to Europe with substantial positions in other markets around the world, making it the world's sixth largest insurance group based on both gross worldwide premiums and market capitalisation at 31 December 2004. Aviva's principal business activities are long–term savings, fund management and general insurance, with worldwide total sales of £35 billion and assets under management of £317 billion at 31 December 2005.

In Asia, Aviva operates across India, Singapore, Hong Kong and China.

About Aviva–COFCO

Aviva–COFCO is a life insurance joint venture with China National Cereals, Oils & Foodstuffs Import & Export Corporation (COFCO), a major state–owned company. The company's life and pensions products are sold through banks, direct sales, brokers and agents.

Aviva–COFCO was first launched in Guangzhou in 2003. It opened in 2004 in Chengdu and Beijing; and January 2006 in Fuzhou. Regulatory approval has also been granted to open sales offices in the cities of Zhongshan, Foshan and Shenzhen, in Guangdong; Mianyang, Nanchong and Leshan in Sichuan; and Xiamen in Fujian.

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