This should be read in conjunction with the documents filed by Aviva plc (the "Company" or "Aviva") with the United States Securities and Exchange Commission ("SEC").
This announcement contains, and we may make verbal statements containing, "forward-looking statements" with respect to certain of Aviva's plans and current goals and expectations relating to future financial condition, performance, results, strategic initiatives and objectives. Statements containing the words "believes", "intends", "expects", "plans", "will," "seeks", "aims", "may", "could", "outlook", "estimates" and "anticipates", and words of similar meaning, are forward-looking. By their nature, all forward-looking statements involve risk and uncertainty. Accordingly, there are or will be important factors that could cause actual results to differ materially from those indicated in these statements.
Aviva believes factors that could cause actual results to differ materially from those indicated in forward-looking statements in the presentation include, but are not limited to:
- The impact of difficult conditions in the global capital markets and the economy generally;
- The impact of new government and regulatory initiatives related to the financial crisis;
- The impact of credit spread volatility, and of defaults and impairments in our bond, mortgage and structured credit portfolios;
- Changes in general economic conditions, including foreign currency exchange rates, interest rates and other factors that could affect our profitability;
- The impact of volatility in the equity, capital and credit markets on our profitability and ability to access capital and credit;
- Risks associated with arrangements with third parties, including joint ventures;
- Inability of reinsurers to meet obligations or unavailability of reinsurance coverage;
- A decline in our ratings with Standard & Poor’s, Moody’s, Fitch and AM Best;
- Increased competition in the UK and in other countries where we have significant operations;
- Changes to our brands and reputation;
- Changes in assumptions in pricing and reserving for insurance business (particularly with regard to mortality and morbidity trends, lapse rates and policy renewal rates), longevity and endowments;
- A cyclical downturn of the insurance industry;
- Changes in local political, regulatory and economic conditions, business risks and challenges which may impact demand for our products, our investment portfolio and credit quality of counterparties;
- The impact of actual experience differing from estimates on amortisation of deferred acquisition costs and acquired value of in-force business;
- The impact of recognising an impairment of our goodwill or intangibles with indefinite lives;
- Changes in valuation methodologies, estimates and assumptions used in the valuation of investment securities;
- The effect of various legal proceedings and regulatory investigations;
- The impact of operational risks;
- The loss of key personnel;
- The impact of catastrophic events on our results;
- Changes in government regulations or tax laws in jurisdictions where we conduct business;
- Funding risks associated with our pension schemes;
- The effect of undisclosed liabilities, integration issues and other risks associated with our acquisitions;
- And the timing impact and other uncertainties relating to acquisitions and disposals and relating to other future acquisitions, combinations or disposals within relevant industries.
For a more detailed description of these risks, uncertainties and other factors, please see Item 3, "Risk Factors", and Item 5, "Operating and Financial Review and Prospects" in Aviva's Annual Report Form 20-F ( filed with the SEC on 21 March 2012. )
Aviva undertakes no obligation to update the forward looking statements in this announcement or any other forward-looking statements we may make. Forward-looking statements in this presentation are current only as of the date on which such statements are made.