Regional overviews: Asia Pacific

Our strategic priorities are:

Scale and growth through:

• Prioritised portfolio
• Regional operating model
• Investment required

How will we achieve this?

• Take advantage of the huge and well understood demographic opportunities
• Drive growth through the successful bancassurance model
• Share expertise such as the Australian wrap platform
• Expand further our geographical footprint in the region
• Realise cost savings and synergies through the regional operating model

Progress in 2007:

Continue to roll out our successful bancassurance distribution model, tailored to the specific needs of our markets

• New bancassurance deals signed in Malaysia, India, Sri Lanka and Taiwan

Continue to strengthen our relationships with key brokers and other partners

• In Australia, we acquired a strategic stake in Meritus Financial Group which resulted in Aviva having equity holdings in four Dealer Groups
• In Taiwan, we entered into a JV partnership with First Financial Holdings Company which will have an exclusive bancassurance agreement with its flagship subsidiary, First Commercial Bank, Taiwan’s second largest bank network
• In Singapore, we acquired DollarDex which would enable us to build a direct customer base and further diversify distribution via our entry in the B-2-C segment
• In Malaysia, we bought a strategic stake in two of CIMB Group’s subsidiaries which will provide access to over four million customers as well as introducing takaful (Islamic Insurance) to the Aviva Group

Exploit the scale of Aviva through knowledge sharing and skills in multi-channel distribution, product development and service delivery

• Joined forces with Aviva USA and Spain to share knowledge on product design and industry trends. Delegates from Asia Pacific included Australia, China, Hong Kong, Singapore and Taiwan

Looking forward:

Our medium-term target is to:

• Grow long-term savings new business sales by an average of at least 20% a year to 2010