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Profile: Aviva PLC (AV.N)

AV.N on New York Stock Exchange

27 Sep 2016
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Aviva plc (Aviva), incorporated on February 9, 1990, is the holding company of the Aviva Group. The Company provides customers with long-term insurance and savings, general and health insurance, and fund management products and services. The Company's segments include UK & Ireland; France; Poland; Italy, Spain and Other; Canada; Asia, and Aviva Investors. In the United Kingdom, the Company has long-term insurance and savings businesses and general insurance, and health businesses. In Europe, it has long-term insurance and savings businesses in all countries in which it operates, general insurance businesses in France, Ireland and Italy, and smaller general insurance operations in various other countries and health businesses in France and Ireland. In Canada, it has general insurance operation. In Asia, it has long-term insurance and savings businesses. Its fund management businesses operate across Europe, Asia, North America and the United Kingdom.

The Company's business operates across approximately four main market sectors: life insurance and savings, general insurance, accident and health insurance, and fund management, providing services to over 30 million customers across the world and operating in approximately 20 different countries. Its long-term insurance and savings business includes a range of life insurance and savings products. Its accident and health insurance, and fund management manages funds on behalf of its long-term insurance and general insurance businesses, external institutions, pension funds and retail clients. Life insurance and savings business includes brands and products, such as Pensions, Annuities, Protection, Bonds and savings, Investment sales and Other, including equity release contracts. Its general insurance focuses on personal and commercial lines. General insurance and health insurance includes brands and products, such as Personal lines, Commercial lines, Health insurance, and Corporate and specialty risks. Aviva Investors operates under a single brand across the Aviva Group's markets. Its products cover a range of asset classes. In Europe, this includes open-ended collective investment schemes, which are domiciled in France, Luxembourg and Poland; while in the United Kingdom, this includes segregated mandates and specialist funds for pension schemes, local authorities and insurance companies, as well as retail and wholesale products. Other offerings include specialist property funds and money market funds.

UK & Ireland

The UK segment provides long-term insurance and savings. The Irish business is a life and pensions provider in Ireland. Its Irish long-term business is focused on distribution through intermediaries. In the United Kingdom, it provides a product range focused on both the consumer and corporate markets. The pensions and retirement products it offers include personal pensions, equity release, annuities and income drawdown. Its annuity offerings include immediate life, enhanced, fixed-term annuities and with-profits pension annuities. It provides a range of life insurance products, including level-term, decreasing-term (with or without critical illness), guaranteed whole of life insurance, over 50s life cover and income protection. Its savings and investment products include individual savings accounts (ISAs), investment bonds, funds, base rate trackers, investments with guarantees and with-profits products. Its direct to consumer platform offer new retirement propositions and investment products.

In Ireland, its long-term insurance and savings business offers a range of products with its focus on protection, annuities and pensions and savings products. Its protection products include life insurance, mortgage protection and specified illness. The pensions and savings range covers retirement and investment products. The Company is a general insurer in both the United Kingdom and Ireland. It is focused on personal and commercial insurance. The Company provides a range of general insurance products in both the United Kingdom and Ireland. In the United Kingdom, the Company has a business mix of approximately 60% personal lines and over 40% commercial lines.

The Company's United Kingdom personal products include motor, home and travel insurance. Its United Kingdom commercial products include motor, property and liability insurance for small and medium size enterprises (SMEs) and the United Kingdom corporate customers, as well as products in the specialty risks market. In Ireland, its products include property, motor, travel, agricultural and business insurance and its health insurance business products for both the personal and commercial sector. Its personal products are sold directly to customers over the phone and through its Websites, through brokers and through corporate partnerships.


The Company operates in French Life insurance market through two main companies: Aviva Vie SA and Antarius S.A. The Company provides a range of insurance solutions, which include life and long-term savings, general and health insurance and asset management through Aviva Investors France S.A. The products sold through its life channel are long-term savings, pensions and regular premium products, with a focus on the unit-linked market and a range of protection products for individuals. In the general insurance market, its product range includes household, motor, health and legal protection products and also a range of insurance products for small to medium sized entities, farms, craftsmen and tradesmen, and specific products for building firms and motor fleets.

The Company's retail network sells through over 920 tied agents, a direct sales force made up of approximately 1,200 Union Financiere de France (UFF) consultants and direct advisors, and through brokers in the life, health and construction markets. Direct distribution is managed through the Eurofil brand for personal general insurance, the Aviva Direct brand for protection and Epargne Actuelle for the Association Francaise d'Epargne et de Retraite (AFER) product. It operates in the bancassurance market through its partnership with Credit du Nord.


Aviva is the insurer in the Life individual market. The Company's life business in Poland provides a range of protection, savings and pension products, as well as health insurance. For institutions, it offers group life insurance and employee pension programs, which are both unit-linked products. It offers a standard product as part of its privately managed Pillar II pensions business. It offers general insurance products to both commercial entities and individuals. For individuals, it offers home, accident and travel insurance, which are sold by tied agents, as well as motor insurance, which is sold through its direct operation. For institutions, it offers selected commercial lines risks. The direct sales force and bancassurance are the main distribution channels for the Polish business and is made up of over 2,100 tied insurance agents. Its mutual funds are also sold in brokerage houses and its individual products are supported by call center and Website sales.

The Company sells protection, long-term savings and pensions, health and accident insurance through a bancassurance network based on approximately four joint ventures with over three banks. It also sells through Aviva Vida y Pensiones, the Aviva branded long-term insurance company and through its Spanish mutual insurance company Pelayo. It offers a range of bonds, savings and protection products. Investment products include both unit linked and traditional plans. Its traditional plans include savings schemes and income products. It offers a range of individual and group pension plans with alternative investment choices. It also offers protection products, covering both mortgages and credit loans, typically providing cover for the family. Aviva Vida y Pensiones distributes its products through professional intermediaries (agents and brokers), supported by a branch office network and call centers, and through Pelayo's network. Aviva's business in Turkey sells life and savings products, including unit-linked pensions through its life joint venture, AvivaSA Emeklilik ve Hayat A.s (AvivaSA). Akbank sells AvivaSA's life and pensions products through its banking network in Turkey.


The Company, through its distribution partners, provides a range of personal and commercial lines general insurance products to approximately 2.8 million policyholders. The general insurance products that it provides through its Canadian companies are personal, home and motor insurance; small and medium-size enterprise commercial insurance, including motor, property, liability, boiler and machinery, and surety, and personal insurance products, including holiday trailers, boats, as well as antique, classic and custom cars. Independent brokers are its distribution channel, with over 1,500 independent group and retail brokers distributing its core personal and commercial line products.


In Singapore, the Company's life business is an insurer in the market, providing employee benefit and individual life insurance through distribution channels. It also has general insurance and health operations in Singapore and offers online personal motor insurance. It has a presence in approximately 10 provinces and over 50 branches. It operates a multi-distribution platform, including agency, bancassurance, direct marketing, and brokerage channels offering a range of protection and savings products. In Indonesia, through its PT Astra International Tbk, the Company distributes its products through its bancassurance arrangement with Permata Bank. In Hong Kong, its subsidiary operates primarily through independent financial adviser (IFA) distribution networks. In India, it has a distribution network of approximately 120 branches.

The Asian businesses offer a range of protection, savings, and pension products, including universal life, participating and non-participating endowments, unit-linked single and regular premium life insurance, and a range of accident and health insurance products. Friends Provident International Limited (FPIL) offers a range of products, including single premium investment products, regular premium savings plans and individual assurance policies. In China, its products are sold mainly through agents, telemarketing and bancassurance. In Indonesia, individual business is sold through its bancassurance channel and group business is sold through its direct sales force. In Taiwan, bancassurance is its main distribution channel and its products are sold through direct marketing. In Vietnam, its products are sold through bancassurance and agents. In Hong Kong, it operates through IFA networks.

Aviva Investors

Aviva Investors offers a range of fund management services, operating in the United Kingdom, Europe, North America and Asia. Its clients are the long-term insurance, savings and general insurance businesses of Aviva. It provides clients with asset management services across a spectrum of asset classes. In Europe, it has a range of Societes d'Investissement a Capital Variables (SICAVs) (open-ended collective investment schemes). These funds have different share classes depending on the size and type of investor. In the United Kingdom, it sells segregated mandates and specialist funds to pension schemes, local authorities and insurance companies. It also supplies products to the retail and wholesale markets through the United Kingdom domiciled bond, real estate, equity, multi-asset and multi-strategy Open Ended Investment Companies (OEICs) funds. It has a range of pooled pension funds, which are targeted at the smaller pension fund market. It also has a range of specialist property funds, over six money market funds in Dublin and Paris, and also offers feeder funds in the Cayman Islands for the United States and Australian investors.

The Company competes with Standard Life, Prudential, Legal & General, Scottish Widows, JRP Group, Royal London, Blackrock, State Street Global, Fidelity Investments, Schroders, Aberdeen, Direct Line Group, RSA, The Admiral Group, Zurich, LV, Allianz, Ageas, NFU, AXA, FBD, Liberty, AIG, CNP, Generali, Unum, Direct Line Insurance and Intact.

Company Address

Aviva PLC

St. Helens, 1 Undershaft
P: +4420.72832000

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