Aviva PLC
25 April 2006
News release
25 April 2006
AVIVA'S CHINA JOINT VENTURE GRANTED NEW LICENCE FOR JINAN
Aviva, the world's sixth largest insurer, has received regulatory approval for
its joint-venture company, Aviva-COFCO, to open a branch office in the city of
Jinan, the capital of Shandong province on China's east coast.
Jinan is the province's political, economic and cultural centre, with a
population of 5.69 million. It is also the hub of the transport and
communication network of the Shandong Province, which has a total population of
over 90 million.
This new licence brings the total number of cities in which Aviva-COFCO has
operations to 12. Aviva already has branches in four major provinces or
municipal cities, comprising Beijing, Guangzhou, Chengdu and Fuzhou with seven
additional sub branches in Leshan, Mianyang and Nanchong (Sichuan province),
Zhongshan, Foshan and Shenzhen (Guangdong province) and Xiamen (Fujian
province).
Philip Scott, executive director, Aviva International said: 'We are delighted to
have received this licence for Jinan, particularly because it gives Aviva access
to yet another significant region of economic growth in China. This licence
takes us a stage closer to achieving our longer term ambition of achieving an
average 10 per cent market share in 10 provinces or municipal Chinese cities by
2010.'
- ends -
Enquiries:
Media
Sue Winston, head of media relations: +44 (0)20 7662 8221
Vanessa Booth, group media relations manager: +44 (0)20 7662 2482
Rob Bailhache, Financial Dynamics: +44 (0)20 7269 7243
Analysts
Charles Barrows, investor relations director: +44 (0)20 7662 8115
Nicole Marques, investor relations manager: +44 (0)20 7662 8302
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.
• A photograph of Philip Scott, executive director, Aviva International, is
available at www.aviva.com/media/image library.
This information is provided by RNS
The company news service from the London Stock Exchange
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