France: Quarterly results at 30 June 2008

• Good resistance for new life insurance, savings and retirement business in a declining market and solid operating results

Financial results

• Net turnover for reinsurance stable at €3.3 billion, at 30 June 2008 (2007: €3.3 billion).
• Operating profit based on the EEV/IFRS₁ embedded value up 11%, to €423 million at 30 June 2008 (2007: €380 million)
• Operating profit before tax based on the IFRS accounting standards down by 10%, to €232 million at 30 June 2008 (2007: €259 million).

Life insurance

• New life insurance, savings and retirement₂ business down by 4% compared to the previous year at €2613 million (2007: €2711 million, in a market that fell by 7% at 30 June 2008, due to extremely volatile financial markets and competition from short-term banking products
• Good resistance from AFER sales, a drop of 3%, to €1269 million in the first quarter of 2008 (2007: €1303 million)
• Antarius sales rose by 3%, to €633 million (2007: €617 million), in a bank insurance market that fell by 14%
• Slight drop in the gross profit margin for new business in the first quarter of 2008, of 4.2% (2007: 4.4 %); accounting unit rate 29% (2007: 44%) in a market where this rate is 17%
• Life insurance operating profit based on the EEV embedded value up 16%, to €386 million at 30 June 2008 (2007: €333 million)
• Life insurance operating profit in IFRS down by 7% in the first quarter of 2008, to €188 million (2007: €201 million).

Asset management

• Smooth, quality long-term management for Aviva Asset Management which was awarded 3 Trophies for Revenue and a Silver award by La Vie Financière in 2008
• €71.4 billion under management at 30 June 2008 (31 December 2007: €74.2 billion).

Non-life insurance

• COR₃ at 9% (9% in the first quarter of 2007)
• Net turnover from reinsurance: €629 million (2007: €623 million), a rise of 1%
• The launch of a new health insurance; seeking to improve operating efficiency and manage costs.

-ends-

Press contacts:
Estelle Joubert
Telephone: 01 76 62 57 86
E-mail: estelle_joubert@aviva.fr

Laurent Gibert
Telephone: 01 76 62 73 00
E-mail: laurent_gibert@aviva.fr

Notes to editors:

About Aviva
Aviva is the leading provider of life and pensions to Europe with substantial positions in other markets around the world, making it the world's fifth largest insurance group based on gross worldwide premiums at 31 December 2006. Aviva's principal business activities are life insurance and long-term savings, fund management and general insurance, with total sales of €56.7 billion and funds under management of €499 billion at 31 December 2007.

With more than 150 years' experience in France, Aviva is among the top 10 players in the insurance market. Aviva France is distinguished by a balanced multidistribution model which has proved itself: 875 general agents, 1,800 agency staff, 400 life advisers, more than 1,000 brokers, partners (Union Financière de France and Médéric). Aviva France's partners also include AFER, the leading association of savers in France, and the Crédit du Nord Group. Specialising in unit-linked products, Aviva is well-known for the performance of its long-term funds and its strong commitment to its customers through its Good advice approach. Aviva has more than 3,300 employees. As at 31 December 2007, Aviva France recorded a consolidated turnover of €6.5 billion, a consolidated operating profit of €338 million and managed assets worth €74.2 billion.