Bancassurance

Bancassurance refers to the arrangement by which banks and building societies agree to sell insurance and investment products to their customers on behalf of other financial providers.

We have over 90 bancassurance agreements with banks and building societies across the world. These agreements confirm our position as a partner of choice, demonstrate our growth opportunities in Europe and increase our geographical footprint in Asia.

Many of these deals are long-term in nature while the scale of the franchise means that we are not in any sense dependent on one partner.

We continue to seek opportunities to extend our bancassurance business as part of our multi-distribution model.

Bancassurance agreements

1. North America

   • HSBC
   • Washington Mutual
   • M&T Bank
   • Sovereign

2. Ireland

   • AIB

3. UK

   • Barclays
   • Abbey
   • RBS
   • HSBC

4. Netherlands

   • ABN AMRO

5. Poland

   • Deutsche Bank
   • AIB

6. France

   • Crédit du Nord

7. Spain

   • Unicaja
   • Caja Granada
   • Bancaja
   • Caja España
   • Caja Murcia
   • Caixa Galicia

8. Italy

   • UniCredit Banca
   • Banco Popolara
   • Banca delle Marche
   • BPU Banca

9. Romania

   • Banca Romãnã
   • Pentru Dezvoltare
   • Bank Zachodni WBK

10. Turkey

    • Akbank

11. India

    • IndusInd Bank
    • Centurion
    • ABN AMRO
    • American Express
    • Lakshmi Vilas Bank
    • Punjab & Sind Bank

12. Sri Lanka

    • NDB Bank
    • Credit Europe Bank
    • Probusiness-bank
    • Banque Accord

13. Russia

    • MDM bank
    • Credit Europe Bank
    • Probusiness-bank
    • Banque Accord

14. Malaysia

    • CIMB Group

15. Singapore

    • DBS

16. Hong Kong

    • DBS

17. Taiwan

    • First Financial Holding co.

18. Australia

    • BankWest

HY 2007 Results

Our principal bancassurance agreements have brought us:

• Sales CAGR of 20%
• Margin of 4.5% (compared to 3.8% for the Group as a whole)
• Access to around 212 million potential customers through 48,000 partner branches

Agreements in 2007

We announced six new bancassurance joint ventures in the first half of 2007 confirming we are partner of choice, demonstrating further European growth opportunities and increasing the geographical footprint in Asia Pacific.

HSBC (UK)

We have announced plans to enter an agreement with HSBC to underwrite and distribute general insurance products to their 10 million customers.

Akbank (Turkey)

In June, we announced the merger of our existing operations in Turkey with Ak Emeklilik to create a new leading life and pension provider in Turkey.

Cajamurcia (Spain)

We announced a long-term partnership with Spanish savings bank, Cajamurcia. Cajamurcia Vida, a newly created life insurance company jointly owned by Aviva and Cajamurcia, will have exclusive access to Cajamurcia’s network of 413 branches to sell life insurance and pension products.

Banco Popolare (Italy)

We announced an exclusive long-term partnership to offer protection and non-life insurance products. Our agreement with Banco Popolare gives us access to more than 5 million potential customers. Banco Popolare has the third largest branch network in Italy with around 2,200 branches.

First Financial Holding Co (Taiwan)

We have signed a joint venture agreement with First Financial to manufacture long-term savings and pension products and distribute them through an exclusive bancassurance agreement with First Commercial Bank, Taiwan’s second-largest bank network.

CIMB Bank (Malaysia)

With this joint venture, we have entered the Malaysian long-term savings market and will enter into exclusive bancassurance agreements with CIMB Group’s subsidiary, CIMB Bank, for the distribution of life and takaful insurance products through the bank’s 383 branches. CIMB Bank has more than 4.5 million customers.