UPDATE 2-Delta Lloyd's 1.2 bln euro IPO fully covered

* Says IPO bookbuilding is fully covered

* Europe's second biggest this year

* Bookbuilding closes Nov. 2

(Adds details, comments)

By Daisy Ku

LONDON, Oct 27 (Reuters) - Investors have already placed enough orders to back Delta Lloyd's 1.2 billion euro initial public offering (IPO) with about a week to spare, pointing to decent demand for Western Europe's biggest flotation this year.

A spokeswoman for Delta Lloyd, the Dutch unit of British insurer Aviva (AV.L), confirmed on Tuesday that bookbuilding for the offering was fully covered.

The deal is underwritten by Goldman Sachs (GS.N), Morgan Stanley (MS.N), Bank of America Merrill Lynch (BAC.N), J.P. Morgan (JPM.N) and RBS (RBS.L).

People familiar with the matter told Reuters earlier on Tuesday Delta Lloyd's offering, which began bookbuilding on Oct. 19 and will close on Nov. 2, had been covered since Friday.

For all of Europe, the largest deal this year is top Polish utility PGE's impending $2.2 billion offering. [ID:nLM719106]

PGE, which also had its book covered within the first week of bookbuilding, will price its IPO late on Tuesday.

With two major deals closing, Europe's IPO volume is set to jump to $4.8 billion, from $801 million, according to Thomson Reuters data, bringing Europe's share in global IPO volume to 6.8 percent, from 1.8 percent.

Bankers are hoping Delta Lloyd and PGE will re-open the IPO market in Europe, which has been stuck in the doldrums -- U.S. IPOs have raised $25 billion while Asia registered $38 billion worth of listings excluding Japan, according to Thomson Reuters data.

PIPELINE

Europe has seen only 32 IPOs so far this year, including Delta LLoyd and PGE. But there are many deals in the queue. [ID:nLF603977] Private equity-backed travel reservations giant Amadeus, for example, has hired Goldman Sachs, J.P. Morgan and Morgan Stanley for a potential 2 billion euro ($2.98 billion) offering next year.