Aviva acquires UBI Vita

Aviva PLC
17 January 2008



17 January 2008

News release

AVIVA ACQUIRES UBI VITA

Aviva plc ('Aviva') announces that it has reached an agreement with UBI Banca
for the acquisition of 50% plus 1 share in UBI Assicurazioni Vita S.p.A., an
Italian life insurance company currently wholly-owned by UBI Banca, for a
consideration of €65 million (£49 million*).

UBI Assicurazioni Vita distributes life insurance products through a
bancassurance agreement with Banca Popolare di Ancona and other channels.

UBI Assicurazioni Vita will report life insurance gross written premiums of at
least €310 million# (£212 million(^)) for the year ended 31 December 2007 and
gross technical reserves of at least €2.8 billion# (£2.1 billion(^)).

Closing of the transaction, which is subject to certain conditions including the
approval of the relevant regulatory authorities, is expected to take place in
the first half of 2008.

                                     -ends-



* At an exchange rate of 1.32 Euro/GBP

# Unaudited Italian GAAP figures per UBI Banca announcement dated 17 January
2008

(^) At 2007 exchange rates: average rate of 1.46 Euro/GBP and closing rate of
1.36 Euro/GBP



Enquiries:


Media
Sue Winston, head of group media relations [phone]
Danielle Anthony, group senior media relations manager [phone]


Analysts
Charles Barrows, investor relations director [phone]

Susie Yeoh, investor relations manager [phone]





Notes to editors:

•        Aviva is the leading provider of life and pensions products in Europe
with substantial positions in other markets around the world, making it the
world's fifth largest insurance group based on gross worldwide premiums for the
12 months to 31 December 2006.

•        Aviva's principal business activities are long-term savings, fund
management and general insurance, with total worldwide sales of £41.5 billion
and assets under management of £364 billion at 31 December 2006.

•        The Aviva media centre at www.aviva.com/media includes images, company
and product information and a news release archive.

•        UBI Banca (Unione di Banche Italiane S.c.p.a.) was created on 1 April
2007 through the merger between Banche Popolari Unite (BPU) and Banca Lombarda e
Piemontese. UBI Banca is listed on the Milan Stock Exchange with a market
capitalisation of €11.3 billion. The Group has 1,923 branches in Italy, approx.
€119 billion in total assets, €90 billion in lending, €89 billion in customer
deposits and €56 billion in assets under management (data as at 30 September
2007).




                      This information is provided by RNS
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