Aviva Bancassurance in Italy

Aviva PLC
16 July 2002



AVIVA TO EXTEND DISTRIBUTION IN ITALY WITH FOURTH MAJOR
BANCASSURANCE PARTNERSHIP

Aviva plc ('Aviva') announces that, together with UniCredito
Italiano ('UCI'), it has reached agreement with Banca Popolare 
Commercia e Industria ('BPCI') to form a new bancassurance
partnership. This partnership will enhance further Aviva's position 
in the Italian long-term savings market where bancassurance accounts 
for some 70% of new business sales, and builds upon Aviva's existing
bancassurance partnerships with UCI, Banca Popolare di Lodi and 
Banca delle Marche.

Aviva and UCI, through CU Vita (owned 55% Aviva, 45% UCI) will
form a 50:50 joint venture with BPCI.  This joint venture will
be controlled by CU Vita and will have exclusive access to all
BPCI branches for the sale of life and pensions products. The
agreement will be for an initial period of five years. As part
of the arrangements, Aviva and UCI will together invest 
Euros 200 million in two of the operating subsidiaries of the 
BPCI group through their holdings in CU Vita.

BPCI has two main operating subsidiaries, Banca Carime and
Banca Popolare di Luino e di Varese ('BPLV').  Banca Carime's
325 branch network is located in the south of Italy where it
has approximately 850,000 customers.  BPLV's 230 branch
network is located in the north of Italy where it has
approximately 300,000 customers.

The transaction remains subject to due diligence and
regulatory approval and is expected to complete by the end of
2002.


Enquiries:

Analysts / Investors:
Steve Riley, Investor Relations Director      [phone]

Media:
Hayley Stimpson, Director of External Affairs [phone]
Stuart Blackmore, Financial Dynamics          [phone]



Notes to editors:

*  On 1 July 2002, CGNU plc changed its name to Aviva plc.

*  Aviva's new business premiums in Italy, in 2001,  were
   £958 million (2000: £241 million).

*  Aviva's existing major relationships in Italy
   -  February 1999 an agreement was signed with Banca delle
      Marche for access to 300 branches
   -  In July 2000 the original agreement with Banca Popolare
      di Lodi, signed in 1998 to cover 250 branches, was extended to
      cover 1,200 branches
   -  In February 2001 an agreement was reached with UniCredito
      Italiano to distribute through Cassa di Risparmio's 500 branch
      network

*  Aviva is the UK's largest insurance group, one of the top-
   five life insurers in Europe and has substantial positions in
   other markets around the world. Aviva is the world's seventh-
   largest insurer based on worldwide gross written premiums.

*  Aviva's  principal  business  activities  are  long-term
   savings, fund management and general insurance, with worldwide
   premium  income  and  retail investment sales  from  ongoing
   business of more than £28 billion, and over £200 billion  of
   assets under management at 31 December 2001.



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