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Aviva plc Interim Results Statement


Aviva plc Interim Results Statement

LONDON -- (Marketwired) -- 08/08/13 -- Aviva PLC (LSE: AV) (NYSE: AV) *T

Start part 1 of 5

News Release Aviva plc

Aviva plc Interim Results Statement 6 months 30 June 2013 8 August 2013

Aviva plc

Interim Results Announcement 2013

Mark Wilson, Group Chief Executive Officer, said:"In the first half we have taken a number of steps to deliver our investment thesis of cash flow and growth. These results show satisfactory progress in Aviva's turnaround."We have achieved profit after tax of GBP776 million, in contrast to the GBP624 million loss last year. Cash flows to the Group have increased by 30% to GBP573 million. Our key measure of sales - value of new business - has increased 17%, driven by the UK, France, Poland, Turkey and Asia."Although these results continue the positive trends of the first quarter, tackling our legacy issues will take time."I am committed to achieving for investors what we set out to do: turning around the company to unlock the considerable value in Aviva."

Cash flow - Cash remittances to Group up 30% at GBP573 million(1)

(HY12: GBP441 million)

- Operating capital generation GBP936 million(1)

(HY12: GBP906 million)

- The interim dividend is 5.6 pence per share (HY12: 10.0

pence per share), consistent with guidance given at the

full year 2012

Profit - Operating profit 5% higher at GBP1,008 million(1)

(HY12: GBP959 million)

- IFRS profit after tax of GBP776 million

(HY12: loss after tax of GBP624 million)

Expenses - Operating expenses 9% lower at GBP1,528 million(2)

(HY12: GBP1,675 million)

- Restructuring costs 10% lower at GBP164 million(1)

(HY12: GBP182 million)

Value of new - Value of new business up 17% to GBP401 million

(HY12: GBP343 business million)

- Increase driven by UK Life, France, Poland, Turkey and

Asia

Combined - Combined operating ratio 96.2% (HY12: 95.5%) operating ratio

Balance - Intercompany loan reduced by GBP700 million to GBP5.1 sheet billion

- IFRS net asset value per share 281p (FY12: 278p)

- MCEV net asset value per share 441p (FY12: 422p)

- Pro forma(3) economic capital surplus(4) within our

target range at GBP7.6 billion, 175%

(FY12: GBP7.1 billion, 172%)

- Sale of remaining shareholding in Delta Lloyd, disposal

of businesses in Russia and Malaysia, and transfer of

Aseval completed

(1) On a continuing basis, excluding US Life and Delta Lloyd. (2) Operating expenses excludes integration and restructuring costs, US

Life and Delta Lloyd. (3) The pro forma economic capital surplus at HY13 includes the impact

of the US Life transaction and an increase in pension scheme risk

allowance from five to ten years of stressed contributions (FY12:

includes the benefit of completing the US Life, Aseval, Delta Lloyd

and Malaysia transactions). (4) The economic capital surplus represents an estimated position. The

capital requirement is based on Aviva's own internal assessment and

capital management policies. The term 'economic capital' does not

imply capital as required by regulators or other third parties.

Key financial metrics

Cash

Operating capital

Cash remitted to Group generation Continuing 6 6 6 operations, months months months Restated1 excluding Delta 2013 2012 Sterling% 2013 6 months Sterling% Lloyd GBPm GBPm change GBPm GBPm change

United Kingdom & Ireland life 300 150 100% 261 370 (29)%

United Kingdom & Ireland general insurance & health - 115 - 216 198 9%

Europe 209 160 31% 321 271 18%

Canada 63 - - 108 114 (5)%

Asia and Other 1 16 (94)% 30 (47) 164%

Total 573 441 30% 936 906 3%

Operating profit before tax: IFRS basis

Restated1

6 months 6 months Continuing operations, excluding 2013 2012 Sterling% Delta Lloyd GBPm GBPm change

Life business 910 897 1%

General insurance and health 428 462 (7)%

Fund management 42 18 133%

Other* (372) (418) 11%

Total 1,008 959 5%

* Includes other operations, Corporate Centre costs and Group debt and other interest costs.

Expenses

6 months 6 months

2013 2012 Sterling% Continuing operations GBPm GBPm change

Operating expenses 1,528 1,675 (9)%

Integration and restructuring 164 182 (10)% costs Expense base 1,692 1,857 (9)%

Value of new business

6 months 6 months

2013 2012 Sterling% Continuing operations GBPm GBPm change

United Kingdom 211 182 16%

Ireland 1 (6) 117%

France 86 62 39%

Poland 21 18 17%

Italy 6 14 (57)%

Spain 13 21 (38)%

Turkey & Other Europe 21 15 40%

Asia - excluding Malaysia and Sri Lanka 41 29 41%

Value of new business - pro forma basis 400 335 19%

Effect of disposals (Malaysia and Sri Lanka) 1 8

Value of new business 401 343 17%

General insurance combined operating ratio

6 months 6 months Continuing operations 2013 2012 Change United Kingdom & Ireland 96.9% 98.0% (1.1)pp Europe 97.0% 97.9% (0.9)pp

Canada 92.4% 89.8% 2.6pp

General insurance combined operating ratio 96.2% 95.5% 0.7pp

IFRS Profit after tax

Restated1

6 months 6 months

2013 2012 Sterling%

GBPm GBPm change

IFRS profit/(loss) after tax 776 (624) n/a

Interim dividend

6 months 6 months

2013 2012 Interim dividend per share 5.6p 10.0p

Capital position

Pro Pro

forma3 forma3

30 June 31 December 30 June 31 December

2013 2012 2013 2012

GBPbn GBPbn GBPbn GBPbn

Estimated economic capital surplus2 7.6 7.1 7.1 5.3

Estimated IGD solvency surplus 3.7 3.9 4.2 3.8

IFRS net asset value per share 281p 278p

MCEV4 net asset value per share 441p 422p

1 The Group adopted the amendments to IAS19 and IFRS10 during the period and the requirements of the revised standards have been applied retrospectively.

2 The economic capital surplus represents an estimated position. The capital requirement is based on Aviva's own internal assessment and capital management policies. The term 'economic capital' does not imply capital as required by regulators or other third parties.

3 The pro forma economic capital and IGD surpluses at HY13 include the impact of the US Life transaction and, for economic capital only, an increase in pension scheme risk allowance from five to ten years of stressed contributions (pro forma FY12: includes the benefit of completing the US Life, Aseval, Delta Lloyd and Malaysia transactions and, for economic capital only, an increase in pension scheme risk allowance from five to ten years of stressed contributions).

4 In preparing the MCEV information, the directors have done so in accordance with the European Insurance CFO Forum MCEV Principles with the exception of stating held for sale operations at their expected fair value, as represented by expected sale proceeds, less cost to sell.

Group Chief Financial Officer's Report

Overview Progress in the first six months of 2013 has been

satisfactory. There have been some areas of solid

performance and several areas of underperformance which

are being addressed.

Since becoming Group Chief Executive Officer at the

start of the year I have had the opportunity to visit

most of our businesses and to speak to many of our

people and our customers. We have leading positions in

several countries; customer service is strong and our

expertise in underwriting, data and predictive

analytics are core differentiating skills. It is

essential that these skills are shared and developed

across the Group for the benefit of all of our

stakeholders.

In March I set out our investment thesis of "cash flow

plus growth'' and this is starting to transform the way

we do business. We are focusing on five key metrics:

cash flow, IFRS operating profit, value of new

business, operating expenses and combined operating

ratio. In the first half of the year the trends have

been satisfactory across these metrics and are broadly

consistent with the improvements in the first quarter.

Solid progress has been made in reducing the size of

the internal loan by GBP700 million (of which GBP300

million is in cash) ahead of our commitment to reduce

it by GBP600 million over three years. In addition we

have increased our provision for default on the

commercial mortgage portfolio by GBP300 million to

GBP1.5 billion.

Cash flow We are managing our businesses in established markets

to maximise cash flows to the Group. Cash flows are

dividends paid by our business units to Group. In the

first half of 2013, GBP573 million of cash was remitted - Cash to Group (HY12: GBP441 million). remitted to Group of Operating capital generation (OCG) was GBP936 million1 GBP573 million (HY12: GBP906 million) with improvements in life new

business strain, fund management and central costs, - OCG stable offset by fewer one-off positive variances in life and at the impact of floods on our general insurance business GBP0.9 billion in Canada. Our priority is to improve the remittance

ratios from OCG to dividends, which in previous years - Interim have been significantly lower than our peers. dividend 5.6 pence per share In line with our guidance at the full year results in

March 2013, the interim dividend is 5.6 pence per

share, consistent with the percentage reduction in the

2012 final dividend. We also announced at the full year

results that we would eliminate the scrip to stop

further shareholder dilution and improve earnings per

share growth.

IFRS operating In the first six months IFRS operating profit was profit GBP1,008 million1 (HY12: GBP959 million). IFRS

operating profit levels were 5% higher primarily due to

lower expenses. The diversified nature of our business

ensured that our profits were resilient despite the - Operating economic backdrop and the low interest rate profit: environment. GBP1,008 million

While operating profit is satisfactory at a Group

level, it is far from satisfactory in several of our

businesses. In Spain and Italy, although underlying

profits have increased, there is considerable scope to

improve performance. In Ireland and Aviva Investors it

is essential that we see a significant improvement in

operating performance over time. Although some progress

has been made reshaping these turnaround businesses and

cutting expenses, there is some way to go before

product mix and efficiency levels are adequate. We have

recently appointed new leaders in Aviva Investors and

Ireland which will help the pace of transformation.

Expenses We have made adequate progress reducing our operating

expenses, which are 9% lower at GBP1,528 million1

(HY12: GBP1,675 million).

- Operating There is potential for additional cost savings within expenses 9% the Group which are likely to be allocated towards lower at strategic initiatives including digital and automation, GBP1,528 to improve the efficiency of our business going million forward.

-Restructuring Restructuring cost reductions are in addition to the costs of GBP164 GBP400 million expense savings target. In the first million (HY12: half of 2013, restructuring costs were 10% lower at GBP182 million) GBP164 million (HY12: GBP182 million). Although

restructuring costs in 2013 will still be significant,

I expect them to be lower than the 2012 level of GBP461

million1, with material reductions in 2014.

1 On a continuing basis, excluding US Life and Delta Lloyd.

Value of We determine growth not by the top line - we already have new scale in many markets - but by the value business of new business (VNB), which is the source of future cash

flow. VNB increased 17% to GBP401 million (HY12: GBP343

million) driven by improved profitability and product mix in

UK Life and France, which increased by 16% and 39%

respectively. In - VNB the growth markets of Poland, Turkey and Asia (excluding up 17% Malaysia and Sri Lanka) VNB improved by 17%, 54% and 41% to respectively. We expect the overall growth rate in VNB to GBP401 moderate during the second half of 2013. million

Combined In general insurance, the combined operating ratio (COR) in operating the first half was satisfactory at 96.2% (HY12: 95.5%). The ratio general insurance performance includes an impact of GBP70

million as a result of the floods in Alberta, Canada, offset

by better than expected weather in the UK. In the UK and

Canada, our major general insurance businesses, the combined

operating ratios were 96.3% and 92.4% respectively (HY12: - COR at 97.2% and 89.8%). 96.2%

We continue to invest in predictive analytics across our personal and commercial lines of business. Our strong

personal lines results, particularly in Canada, demonstrate

the benefits of the development of centres of excellence in Predictive this area. We are focussed on improving our performance analytics across the Group by exporting this capability throughout the key focus business.

A key strength of Aviva is our diversification across

geography and lines of business. By way of example, in the

UK we are starting to experience rate hardening across our

commercial lines business at a time of softening rates

across personal lines. In Canada, we expect hardening rates

in property and softening of rates in motor.

Geographic I see Aviva as a portfolio of businesses grouped into three strategy areas: cash flow generators, future cash flow generators and

turnaround businesses. Within each of these groups there are

areas of underperformance which are being addressed.

Our cash flow generators are UK, France and Canada and our

objective in these markets is to improve cash flow and

profitability.

The turnaround businesses are Italy, Spain, Ireland and

Aviva Investors. In Spain and Italy we are focused on

managing their back books to release free capital and

improve cash remittances to group. Aviva Investors has

underperformed from a shareholder perspective and we expect

it to play a more prominent role in the group going forward.

We have recently appointed Euan Munro who will play a

pivotal role helping Aviva Investors, a core part of the

Group, improve its profitability and contribution to Aviva.

Future cash generators are Poland, Turkey, South East Asia

and China. These are attractive markets which offer growth

potential. In Poland, we are the second largest life and

pensions provider. Turkey has demographic and economic

characteristics similar to high growth Asian markets and is

a key focus for VNB growth. In Asia we are making progress

with a more focused approach, concentrating on China and

South East Asia.

People In the first half of 2013 I have strengthened the management

team. This is essential to the transformation of Aviva. New

people have been brought in, and others have been promoted

from within the business. Khor Hock Seng, David McMillan,

Jason Windsor, Nick Amin, Christine Deputy and Euan Munro

have been recruited, promoted or added to the Group

Executive Committee. We have also made key senior

appointments in Ireland, Poland and Investor Relations.

In my first six months I have been struck by the

professionalism and dedication of Aviva's people. Their

focus, commitment and hard work are driving Aviva's

transformation.

Outlook In summary, our performance over the first half of the year

has been satisfactory. There are a number of areas that must

be addressed, in particular leverage, expenses, and

underperformance in some of our markets. These issues are

largely within our gift to resolve. Completion of the sale

of the US business is important to the Group and we confirm

our previous guidance that we expect it to complete by the

end of the year.

As a business it is important that we deliver for investors

what we set out to do. There remains considerable value to

unlock in Aviva.

Mark Wilson, Group Chief Executive Officer

Group Chief Financial Officer's Report

Overview Results in the six months to 30 June 2013 have been

satisfactory, with operating profit from continuing

operations 5% higher, driven primarily by expense

reductions.

We continue to focus on improving the capital efficiency of

our business through lower new business strain, more

efficient back-book cash generation and improved

remittances. Operating capital generation for the period

was GBP936 million (HY12: GBP906 million), and remittances

of GBP573 million were received in this half of the year

(HY12: GBP441 million). The bulk of our capital generation

comes from our large back-book of life insurance business

already written. On average c.GBP1.1 billion of free

surplus from our existing customers will be released over

each of the next five years as this book runs off, in

addition to contributions from general insurance and asset

management, plus management actions including cost saves.

This creates a stable and sustainable outlook for our

capital generation.

In the period, we have taken further steps to strengthen

our balance sheet and improve the predictability of future

cash flows. We have reduced our internal leverage by GBP700

million through a combination of GBP300 million cash

repayment and GBP400 million non-cash methods. Our

pro forma IGD surplus and pro forma economic capital ratios

are GBP3.7 billion and 175% respectively, the latter at the

top-end of our 160-175% target range. We have increased the

credit default provision in our UK commercial mortgage

portfolio by GBP300 million, so this now stands at GBP1.5

billion.

Business In UK life, operating profit of GBP438 million was GBP31 Unit million lower than the prior year period. Expense Performance reductions of GBP50 million were more than offset by thenon-repeat of a GBP74 million provision release in HY12.

Value of new business was 16% higher year-on-year, mostly

driven by re-pricing our annuities book. This, along with a

greater focus on risk products, resulted in new business

margin improving significantly to 34% of annual premium

equivalent (HY12: 25%).

Overall, performance in UK GI was solid, with operating

profit of GBP239 million, up 5%, despite a GBP45 million

reduction in investment return following the intercompany

loan reorganisation. The COR of 96.3% (HY12: 97.2%)

benefitted from disciplined underwriting and relatively

benign weather.

In Canada, the COR of 92.4% (HY12: 89.8%) was impacted by

the Alberta floods and operating profit reduced to GBP147

million as a result (HY12: GBP174 million). Canada's strong

underwriting ability was demonstrated even in a period of

unusually large losses. France had a 15% improvement in

operating profit, mostly as a result of a shift to higher

margin protection products in life. France is a stable cash

generator, with a GBP103 million remittance to group in the

first half of 2013.

Our growth markets had strong VNB progression over the

period, with Turkey and Asia (excluding Malaysia and Sri

Lanka) up 54% and 41% respectively, and more modest growth

of 17% in Poland. The higher VNB across these markets was

mainly a result of increased sales of higher margin

protection products.

Capital and Our capital ratios have remained broadly constant over the liquidity six months to 30 June 2013, largely due to the actions

taken in 2012 to de-risk the balance sheet along with

fairly benign market conditions. Our pro forma economic

capital surplus was GBP7.6 billion at HY13 (FY12: GBP7.1

billion), representing a capital adequacy ratio of 175% and

our pro forma regulatory surplus (IGD) was GBP3.7 billion

(FY12: GBP3.9 billion). At present, a 50bps downward shift

in the yield curve would reduce our economic capital

surplus ratio to 170%, still within our targeted range of

160%-175%. We would remain within our targeted capital

range should a 20% fall in equity markets or a 100bps

widening of credit spreads occur.

We have recently been included on the list of nine Global

Systemically Important Insurers and will work closely with

the regulators to understand the implications of this. This

will not have any immediate implications on the level of

capital we will be required to hold. The Solvency II

capital framework continues to evolve and we participate

actively in these discussions.

Group centre liquidity currently stands at GBP1.1 billion.

Disposal proceeds along with cash remittances from business

units were received during the first half of the year. From

this, GBP300 million of internal loan repayment was made

along with the 2012 final dividend.

Intercompany Following the restructure of Aviva Insurance Limited (AIL) loan announced earlier in the year, a GBP5.8 billion formal

loan was established between AIL and Aviva Group Holdings

(AGH), the parent company of many of our international

subsidiaries. Since then, we have repaid GBP300 million of

the internal loan in cash. Following the removal of AIL's

guarantee of the Group's commercial paper and consequent

increase in economic capital in AIL, a further GBP400

million of the loan was retired, bringing the balance down to GBP5.1 billion.

As previously announced, we intend to reduce the internal

loan by a further GBP300 million of cash by the end of

2015. We plan on taking additional steps to reduce the

loan balance by non-cash methods.

External External leverage remains broadly unchanged over the six leverage months of 2013, with a debt to tangible equity ratio of

50% (FY12: 50%). In July 2013, we raised EUR650 million of

hybrid debt ahead of the GBP0.8 billion of debt up for

call in the next eight months. We remain focused on

reducing our external leverage ratio to below 40% in the

medium term. We anticipate using some of the proceeds from

the US life disposal towards reducing our external

leverage.

Asset Aviva has a large balance sheet with exposure to portfolio approximately GBP265 billion of financial investments and

loans. Most of these assets are held on behalf of

policyholders, with no risk of investment loss to

shareholders, or in participating funds where most of any

potential loss is borne by policyholders. Of the c.GBP87

billion financial assets to which shareholders are

directly exposed, the vast majority is in fixed interest

bonds and loans.

De-risking of our asset portfolio has continued over the

six months, albeit at a more moderate pace. We have made

gross disposals of GBP1 billion1 of Italian sovereign

bonds, offset by market movements including FX and

disposed of GBP35 million of Co-Operative Bank bonds prior

to the announced bail-in.

In the UK, the asset portfolio backing the UK annuity

business includes GBP14.4 billion of corporate debt

securities and GBP12.2 billion of commercial mortgages.

Excluding GBP4.1 billion of healthcare and Private Finance

Initiative (PFI) mortgages, which have lower risk

characteristics, there exists GBP8.1 billion of commercial

mortgages to which shareholders are exposed. During the

first half of the year, impairments on the mortgage

portfolio increased above our long term trend and we

subsequently carried out an extensive review of the

portfolio. Consequently, we have increased the

direct provisions against default in the mortgage

portfolio by GBP300 million. The allowance in the

liability valuation for mortgages is now GBP1.5 billion.

Net Asset IFRS operating profits of 26p per share over the first six Value months more than covered the payment of the 2012 final

dividend of 9p per share. This was also partly offset by

the adverse movement of the pension scheme of 8p, which

was mainly as a result of an increase in CPI, and the

additional commercial mortgage provision which reduced our

book value per share by 8p.

Net asset value 2

IFRS MCEV

Opening NAV per share at 31 December 2012 278p 422p

Operating profit 26p 27p

Dividends (9)p (9)p

Investment variances 3p 9p

Commercial mortgages (8)p (2)p

Pension fund (8)p (8)p

Integration and restructuring costs, goodwill (6)p (5)p

impairment and other items

Foreign exchange 5p 7p

Closing NAV per share at 30 June 2013 281p 441p

Pat Regan Group Chief Financial Officer

1 Gross of non-controlling interests, purchases and redemptions.

2 Net of tax and non-controlling interests.

Notes to editors

All comparators are for 6 months to 30 June 2013 unless otherwise stated.

Income and expenses of foreign entities are translated at average exchange rates while their assets and liabilities are translated at the closing rates on 30 June 2013, 30 June 2012 and 31 December 2012 respectively. The average rates employed in this announcement are 1 euro = GBP0.85 (6 months to 30 June 2012: 1 euro = GBP0.82, 12 months to 31 December 2012: 1 euro = GBP0.81) and US$1 = GBP0.65 (6 months to 30 June 2012: 1 US$ = GBP0.63, 12 months to 31 December 2012: 1 US$ = GBP0.63).

Growth rates in the press release have been provided in sterling terms unless stated otherwise. The following supplement presents this information on both a sterling and local currency basis.

Cautionary statements:

This should be read in conjunction with the documents filed by Aviva plc (the "Company" or "Aviva") with the United States Securities and Exchange Commission ("SEC"). This announcement contains, and we may make verbal statements containing, "forward-looking statements" with respect to certain of Aviva's plans and current goals and expectations relating to future financial condition, performance, results, strategic initiatives and objectives. Statements containing the words "believes","intends", "expects", "plans", "will,""seeks", "aims", "may", "could","outlook", "estimates" and "anticipates", and words of similar meaning, are forward-looking. By their nature, all forward-looking statements involve risk and uncertainty. Accordingly, there are or will be important factors that could cause actual results to differ materially from those indicated in these statements. Aviva believes factors that could cause actual results to differ materially from those indicated in forward-looking statements in the presentation include, but are not limited to: the impact of ongoing difficult conditions in the global financial markets and the economy generally; the impact of various local political, regulatory and economic conditions; market developments and government actions regarding the sovereign debt crisis in Europe; the effect of credit spread volatility on the net unrealised value of the investment portfolio; the effect of losses due to defaults by counterparties, including potential sovereign debt defaults or restructurings, on the value of our investments; changes in interest rates that may cause policyholders to surrender their contracts, reduce the value of our portfolio and impact our asset and liability matching; the impact of changes in equity or property prices on our investment portfolio; fluctuations in currency exchange rates; the effect of market fluctuations on the value of options and guarantees embedded in some of our life insurance products and the value of the assets backing their reserves; the amount of allowances and impairments taken on our investments; the effect of adverse capital and credit market conditions on our ability to meet liquidity needs and our access to capital; a cyclical downturn of the insurance industry; changes in or inaccuracy of assumptions in pricing and reserving for insurance business (particularly with regard to mortality and morbidity trends, lapse rates and policy renewal rates), longevity and endowments; the impact of catastrophic events on our business activities and results of operations; the inability of reinsurers to meet obligations or unavailability of reinsurance coverage; increased competition in the UK and in other countries where we have significant operations; the effect of the European Union's "Solvency II" rules on our regulatory capital requirements; the impact of actual experience differing from estimates used in valuing and amortising deferred acquisition costs ("DAC") and acquired value of in-force business ("AVIF"); the impact of recognising an impairment of our goodwill or intangibles with indefinite lives; changes in valuation methodologies, estimates and assumptions used in the valuation of investment securities; the effect of legal proceedings and regulatory investigations; the impact of operational risks, including inadequate or failed internal and external processes, systems and human error or from external events; risks associated with arrangements with third parties, including joint ventures; funding risks associated with our participation in defined benefit staff pension schemes; the failure to attract or retain the necessary key personnel; the effect of systems errors or regulatory changes on the calculation of unit prices or deduction of charges for our unit-linked products that may require retrospective compensation to our customers; the effect of a decline in any of our ratings by rating agencies on our standing among customers, broker-dealers, agents, wholesalers and other distributors of our products and services; changes to our brand and reputation; changes in government regulations or tax laws in jurisdictions where we conduct business; the inability to protect our intellectual property; the effect of undisclosed liabilities, integration issues and other risks associated with our acquisitions; and the timing impact and other uncertainties relating to acquisitions and disposals and relating to other future acquisitions, combinations or disposals within relevant industries. For a more detailed description of these risks, uncertainties and other factors, please see Item 3d, "Risk Factors", and Item 5, "Operating and Financial Review and Prospects" in Aviva's Annual Report Form 20-F as filed with the SEC on 25 March 2013. Aviva undertakes no obligation to update the forward looking statements in this announcement or any other forward-looking statements we may make. Forward-looking statements in this presentation are current only as of the date on which such statements are made.

Aviva plc is a company registered in England No. 2468686. Registered office St Helen's 1 Undershaft London EC3P 3DQ

Contacts Investor contacts Media contacts Timings

Colin Simpson Nigel Prideaux Real time media conference +44 (0)20 7662 8115 +44 (0)20 7662 0215 call 07:15 hrs BST David Elliot Andrew Reid Analyst presentation +44 (0)20 7662 8048 +44 (0)20 7662 3131 08:15 hrs BST

Sarah Swailes Presentation slides

+44 (0)20 7662 6700 www.aviva.com

06.30hrs BST

Live webcast

www.avivawebcast.com/interims2013/

08:15 hrs BST

End of part 1 of 5 -----------------------------------------------------------------------

This information is provided by RNS

The company news service from the London Stock Exchange

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