Annoucement

Aviva Newsroom - 29 November 2007

Aviva's China joint venture receives Jiangsu branch licence

JV now has eight branch licences across 23 cities

29 November 2007

Aviva plc ("Aviva"), the international savings, investments and insurance group, announces that its joint-venture in China, Aviva-COFCO has obtained regulatory approval for a branch licence in the province of Jiangsu. The approval was awarded by the China Insurance Regulatory Commission (CIRC).

Aviva-COFCO now has eight branches in the provinces of Guangdong, Beijing, Sichuan, Fujian, Shandong, Hunan, Hebei and Jiangsu. Including its sales offices, the joint venture is now operating in 23 cities.

Aviva-COFCO opened its first branch in Guangzhou in 2003. Today, the life insurance company leads the pack as the foreign life insurance company with the most number of branches in China. As of October 2007, with a compound aggregate growth rate (CAGR) of over 200%, Aviva-COFCO's full-year premiums rank second among all foreign life companies.

Jiangsu has been a China hot spot for economic development, and is now one of China's most prosperous provinces. 75 million people live in Jiangsu, out of which 35 million people make up its urban population. Aviva-COFCO will be adopting a multi-channel strategy in the province.

For media enquiries, please email us at aro@aviva-asia.com

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