Profile: Aviva PLC (AV.N)

AV.N on New York Stock Exchange

26 Nov 2014
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$0.09 (+0.56%)
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Aviva plc (Aviva), incorporated on February 9,1990, is an insurance and asset management company. The Company provides around 31 million customers with long-term insurance, savings and investment, general insurance, health insurance, and fund management products and services. In the United Kingdom, Aviva is a general insurer and a life insurer. It also has businesses in selected European and Asian markets, and is a general insurer in Canada. The United Kingdom region is split into the UK Life and the UK General Insurance segments, which undertake long-term insurance, savings and health business, and general insurance, respectively. Aviva distributes products directly to customers and also through third parties, such as independent financial advisers, insurance brokers and banks.

The Company’s general insurance business operates under the Aviva brand globally and concentrates on the products, which include Personal lines, Commercial lines, Health insurance and Corporate and specialty risks. Personal lines consist of motor, household, travel and creditor. Commercial lines consist of fleet, liability and commercial property insurance. Health insurance, which consists of private health insurance, income protection and personal accident insurance, as well as a range of corporate healthcare products. Corporate and specialty risks consist of products for large clients or where the risk is specialized. The Company’s segment includes UK & Ireland, France, Poland, Italy, Spain and Other. Its products are split into the categories, which include Pensions, Annuities, Protection, Bonds and savings, Investment sales and others.

UK & Ireland life

In the UK, the Company provides a product range focused on both the consumer and corporate market. The pensions and ‘at retirement’ products we offer include personal pensions, equity release, annuities, income drawdown and with-profits products. Its annuity offerings include immediate life, enhanced, fixed-term annuities and with-profits pension annuities. It provides a number of traditional life insurance products, including level-term, decreasing-term (with or without critical illness), guaranteed whole life insurance, and guaranteed lifelong protection plans. Its savings and investment products include ISAs, investment bonds, funds, and base rate trackers, investments with guarantees and with-profits products. In Ireland, its long-term insurance and savings business offers a range of protection, bonds, savings, and pension and annuity products. Its protection products include life insurance, mortgage protection, and specified illness and guaranteed and whole life cover products. The pension range covers retirement and investment products including government personal retirement savings accounts (PRSA) schemes.

The Company provides a range of general insurance products both in the UK and Ireland. In the UK we have a business mix of approximately 60% personal lines and 40% commercial lines. The Company UK personal products include motor, home and travel insurance. The Company UK commercial products include motor, property and liability insurance for small and medium size enterprises (SMEs) and the larger UK Corporate and Specialty Risks market.


Aviva France provides a range of insurance solutions: life and long-term savings, general insurance and asset management through Aviva Investors France. 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 broad range of protection products, primarily 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 life business in Poland provides a range of unit-linked, annuities, bonds and savings products and health insurance. For institutions it offers group life insurance and employee pension programmes, which are both unit-linked products. The Company offers a standard product as part of its privately managed Pillar II pensions business. The Company offers general insurance products to both commercial entities and to individuals. For institutions we offer selected commercial lines risks. For individuals it offers home, accident and travel insurance, which are primarily sold by tied agents, as well as motor insurance, which is sold primarily through its direct operation.

Italy, Spain and Other

The Company’s long-term insurance and savings business offers a range of products covering protection, bonds and savings and pensions. The Company’s general insurance business in Italy mainly provides motor and home insurance products to individuals, as well as commercial risk insurance to small businesses. The Company offers a range of bonds, savings, and protection products. Investment products include both unit linked and traditional plans, where profit sharing is regularly used to increase the policy return. The Company’s plans include savings schemes and income products. Pension savings products have valuable tax advantages. The Company offers a flexible range of individual and group pension plans with alternative investment choices. The Company also offers protection products; covering both mortgages and credit loans typically providing cover for the family. The Italy, Spain and Other segment also includes its businesses in Turkey where it sells life and savings products, including unit linked pensions through its life joint venture. Its Turkish general insurance operation sells personal motor, household, commercial property, small and medium size enterprises, personal accident, marine and travel insurance, and is classified as held for sale.


The general insurance products that the Company provides through its Canadian companies include 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 and park model trailers, hobby farms, boats as well as antique, classic and custom cars. The Company operates in Canada through a distribution network focused on approximately 1,600 independent group and retail brokers who distribute our core personal and commercial line products.


The Company’s 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, other savings and pensions products and a range of accident and health insurance products. In Singapore, it has a core bancassurance relationship with DBS Bank and also owns a majority interest in PIAS, a financial advisory firm in Singapore. In China, its products are sold mainly through telemarketing, bancassurance and agents. In Indonesia, group business is sold through its direct sales force. In Vietnam, bancassurance is the main distribution channel. The Company is also investing in other channels, such as direct marketing and online to differentiate ourselves from competitors.

The Company competes with Standard Life, Prudential, Legal & General, Lloyds Banking Group, Friends Life, Zurich, Canada Life and Just Retirement.

Company Address

Aviva PLC

St Helen's, 1 Undershaft
P: +4420.72832000

Company Web Links

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