Re Joint Venture

Aviva PLC
30 January 2006



News release


30 January 2006


AVIVA ANNOUNCES COMPLETION OF ARK LIFE TRANSACTION


Aviva plc ('Aviva') announced on 22 November 2005 that it had entered into a
contract for a new bancassurance joint venture between Hibernian Life & Pensions
Limited ('Hibernian Life & Pensions'), the third largest company in the Irish
long-term savings market, and  Ark Life Assurance Company Limited ('Ark Life'),
the fourth largest, owned by Allied Irish Banks plc ('AIB').



Aviva today confirms the completion of this transaction, following the approval
of the European Commission and the Financial Regulator.



The vehicle for the joint venture is Hibernian Life Holdings which is the owner
of Hibernian Life & Pensions and Ark Life.  Hibernian Life Holdings is jointly
owned by Aviva's wholly-owned subsidiary Hibernian Group plc (75.01 per cent)
and AIB (24.99 per cent).



The joint venture includes an exclusive five-year bancassurance distribution
agreement with AIB which may be renewable for further five-year periods up to
2031.  The joint venture will employ approximately 800 staff.



                                    - ends -

Enquiries:



Analysts

Charles Barrows, investor relations director               [phone]

Nicole Marques, investor relations manager                 [phone]



Media

Hayley Stimpson, director of external affairs               [phone]

Sue Winston, head of group media relations                  [phone]





Notes to editors:



•  Aviva is the world's sixth-largest insurance group based on gross
world-wide premiums and market capitalisation (at 31 December 2004); it is one
of the leading providers of life and pensions in Europe and has substantial
businesses in other markets around the world.



•  Aviva's main activities are long-term savings, fund management and
general insurance, with world-wide total income of £40 billion and assets under
management of £280 billion at 31 December 2004.



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




                      This information is provided by RNS
            The company news service from the London Stock Exchange            BXQFBLBBK