Insurance Excellence in UKGIFocus on ProfitIgal Mayer, 3rd June 2009

Disclaimer

This presentation may include oral and written “forward-looking statements” with respect to certain of Aviva’s plans and its current goals and expectations relating to its future financial condition, performance and results. These forward-looking statements sometimes use words such as ‘anticipate’, ‘target’, ‘expect’, ‘estimate’, ‘intend’, ‘plan’, ‘goal’, ‘believe’ or other words of similar meaning. By their nature, all forward-looking statements involve risk and uncertainty because they relate to future events and circumstances which may be beyond Aviva’s control, including, among other things, UK domestic and global economic and business conditions, market-related risks such as fluctuations in interest rates and exchange rates, the policies and actions of regulatory authorities, the impact of competition, the possible effects of inflation or deflation, the timing impact and other uncertainties relating to acquisitions by the Aviva Group and relating to other future acquisitions or combinations within relevant industries, the impact of tax and other legislation and regulations in the jurisdictions in which Aviva and its affiliates operate, as well as the other risks and uncertainties set forth in our 2008 Annual Report to Shareholders. As a result, Aviva’s actual future financial condition, performance and results may differ materially from the plans, goals and expectations set forth in Aviva’s forward-looking statements, and persons receiving this presentation should not place undue reliance on forward-looking statements.

Aviva undertakes no obligation to update the forward-looking statements made in this presentation or any other forward-looking statements we may make. Forward-looking statements made in this presentation are current only as of the date on which such statements are made.

Overview

10%

40%

£30

£60

FY 2000 FY 2008

An increasingly global company

(1) 2008 total long-term savings new business sales and G.I. and health net written premiums

34%

34%

24%5%

42%

26%

11%

14%

7% 22%General

Insurance

78%Long Term

Savings

FY 2008 sales £51.4bn (1)

Asia Pacific

North America

UK Life

Europe

UK GI

billion

billion

3%

General Insurance

Long Term savings

Composite

Manage the composite portfolioDiversity, cash flow, resilient product range

Bancassurance

Direct Sales

Independent Agents

Multi-distribution

Increase customer reachAccess to customers through preferred channels

Key financials - FY 2008 / Q1 2009

• Strong Full year 2008 operating results• Life & pensions sales up 11% to £36,283m

• General insurance result improved and combined operating ratio on target at 98%

• Operating profits: IFRS up 4% to £2,297 million and MCEV up 10% to £3,358 million

• Total profits impacted by adverse investment variances

• Full year 2008 dividend maintained at 33.0p

• Resilient Q1 2009 trading • Q1 2009 life and pension sales up 11%, with margins maintained

• Group COR in line with 98% “meet or beat” target

• Strong balance sheet• Strengthened reserves and provisions, with immaterial actual losses to date

• IGD surplus of £2.5 billion at 31 March 2009, with increased equity hedging – 40% fall reduces surplus by £200m, 40% rise increases surplus by £800m

• Net asset value per share at 31 December 2008: IFRS 416p and MCEV 486p

• Consistent strategy, with focus on capital management

The right strategy

Purpose

Prosperity &peace of mind

Strategic priorities

• Manage composite portfolio

• Build global Asset Management

• Allocate capital rigorously

• Increase customer reach

• Boost productivity

Targets

Vision

One Aviva,twice the value

• 98% meet or beat COR• £500m cost savings by

2010• Double IFRS EPS by

2012 at the latest• 1.5 – 2 x dividend cover

on IFRS post tax operating earnings

UKMarket leadership●Address legacy● Transform business

model ●Exploit UK synergies●Generate capital

N. America● Optimise business

mix, growth & margin● Generate net capital

returns● Contribute to doubling

IFRS EPS by 2012

EuropeScale, growth, capital●Seize unique growth

opportunities● Leverage scale●Generate capital

Asia PacificScale, growth● Prioritised portfolio● Regional operating

model● Investment required

Asset ManagementAsset ManagementAviva Investors

• Globally integrated business • Transform the investment model • Increase third party business

• Focus on target to double IFRS EPS by 2012

• Increasing emphasis on capital efficiency

• Decreasing emphasis on sales targets

Strong presence in our home market

Competitive strength from market leadership in the UK

• Half of IFRS regional operating profits derived from UK businesses

UK Life• Highest ever sales in 2008

• UK Life market share jumped 3% to 14% in Q4 2008

• 6 May investor day

UK GI• Transformational change progressing

• Visible signs of rate hardening

• Voted General Insurer of the year for sixth year running

2008 IFRS operating profit

by region

UK Life & GI

Europe North America, Asia Pacific & Aviva Investors

£m

-1000

0

1000

2000

3000

Central charges

UK General Insurance

UK General insurance

Strategy

• There are 7 strategic priorities:

• Win the Customer• Win the Broker• Building Core Insurance Capability• Claims Inflation Busting• Delivering the Promise of Scale• Lean Manufacturing• Win our People

2008 Performance (UKGI only)

• General insurance operating profit of £566m

• General insurance COR of 99% (2007: 106%)

• General insurance net written premiums (NWP) of £4,981m (2007: £5,440m), down 8%

• Expense ratio improved to 12.1% (2007: 13.9%), reflecting benefits from cost saving initiatives

Current position

• Operates in the mature UK market• Aviva UKGI enjoys a 14% market share - the largest UK

P&C insurer• Top one or two position in all our major classes• Focus on insurance excellence• Generation of capital and cashflow for Aviva

Diversified portfolio

Diversified portfolio of products and distribution channels

Commercial - Broker

Commercial - Other

Personal - Broker

Personal - Partnership

Personal - Direct

RAC income stream

DIRECT BROKERS PARTNERS

#1 in the SME market

Insurer of the year 2003 to 2008

… over 100 othersPowerful brands

3,000 brokers

Unparalleled customer reach

RAC - Best roadside assistance provider 2006 to

2008

Delivering the Promise of Scale• Sub 11% expense ratio• Halve IT costs• Exploit UK synergies

Lean Manufacturing• Mass customisation• Service & process centre reengineering

Win the Customer• NUD fightback• RAC membership• Partnerships moments of truth

Win the Broker• War for distribution

Building Core Insurance Capability• Sophisticated pricing• Rating leadership• Price & product optimisation

Claims Inflation Busting• Sustainable benefits year on year

UKGI’s 7 strategic priorities

Win our People• No1 for employees• Build core insurance skills• Pride & passion for insurance

UKGI’s 7 strategic priorities

RESHAPING THE BOOK

BUILDING CORE INSURANCE CAPABILITY

DELIVERING THE PROMISE OF SCALE

Win our People• No1 for employees• Build core insurance skills• Pride & passion for insurance

Reshaping the book

PERSONAL LINESMulti channel approachDirect means directRAC Panel for aggregatorsRe‐grow with brokersPrice competitive sophisticated pricing

COMMERCIAL LINESGrow small/medium independent brokersReduce commission significantlyRaise rates significantlyRetain Insurer of the Year – for 7th year

ProductsPubs restaurants RAC

RESCUEManufacturing & wholesaling

Shop & salon

Property owners

Self employed

Office surgery

Sustainable growth and sustainable distribution cost

• Profitable & growing medium sized brokers• Unique package • Increase market share

With Mass Customisation we can point everyone to the same engine and each "partner"

will get the correct product and price.

Direct is ‘Direct’

Leverage Membership Panels / Aggregators

Partners: Moments of Truth

Personal Lines: A Crystal-Clear Strategy

3rd Party Data

All web applications are built on the“NUD in a Box”standard

All partner integrationis provided using “NUD in a Pipe”

WebApplication

IntegratedPartner

Application3rd Party Data

AvivaWeb

Call CentreScreens

PolicyAdministration Real-time

Pricing

PartnerIntegration

PartnerWebs

RAC Panel

Store QTE

DataFeedsPrice

RiskBrokerWebs

Small Brokers & National Accounts

BrokerIntegration

Quote

MI

MTA

NB

Brokers e-platform

Platinum CoverGold CoverValue CoverBuildings & ContentsSums InsuredSpecified Inner LimitsFrozen Food

Blanket Higher

Inner Li

mitUnlimited

Blanket BlanketHigher Inne

r Limi

t

Low Inne

r Limi

t£400 Limit £200 Limit

Loss of rent and a

£12,000 Limit£6,000 LimitUnlimited £1,000

£1,000

Single Product Platform

Single Process

One Price List

Common Pricing/Products

Financial strength & reassurance

Truly global peer groupLeveraged marketing

Direct Fightback

• Direct is direct• Sophisticated pricing

Panel

• 11 panel insurers• 30-40% share

Moments of Truth • Profitable & growing smaller brokers• Unique package • Increase market share

‘Fast Trade’• e-broking portal

• Straight thro processing

• Fast referrals

Reshaping the bookSummary

By 2011 our UKGI book will have changed…

• Direct grows

• Brokers grow

• Partnerships fall

• RAC steady in Rescue but doubles in size for insurance

• Motor grows

• Home falls

• Creditor falls

• Commercial lines grow

Right balance of volume and profit

Personal Lines – transforming pricing

Commercial Lines – transforming underwriting

Price Optimisation

Sep ’08

Make/ModelVogueVogue SEHSTHSEHST SCHSE SC

3rd Party Data

CUE

Investment in underwritingInsight on geographical risk

Hawkeye

Total PremiumTotal

PremiumTotal Premium

Mass Customisation

Mar ’09 Multi Peril

Total Premium

Combined peril

Multi peril

ACC DAMAGE3rd PTY INJURY

3rd PTY DAMAGE

Total Premium

Building core insurance capability

Credit

5%

7%

9%

11%

13%

15%

17%

19%

21%

1 2 3 4 5 6 7 8 9 10

Freq

uenc

y

50%

60%

70%

80%

90%

100%

110%

120%

Loss

Rat

io

Loss Ratio - Retro Sep 08 Written FrequencyARI Segment

5%

7%

9%

11%

13%

15%

17%

19%

21%

1 2 3 4 5 6 7 8 9 10

Freq

uenc

y

50%

60%

70%

80%

90%

100%

110%

120%

Loss

Rat

io

Loss Ratio - Retro Sep 08 Written FrequencyARI Segment

Sep ’08 MotorDec ’08 Home

Rating

5pts improvement in 2008Trend positive so far Q1 ‘09

-8.0%

-6.0%

-4.0%

-2.0%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

Jan-07

Feb-07

M ar-

07Apr

-07M a

y-07

Jun-07

Ju l-07

Aug-07

Sep-07

Oc t-07

N ov-07

Dec-07

Jan-08

Feb-08

M ar-

08Apr

-08M a

y-08

Jun-08

Ju l-08

Aug-08

Sep-08

O c t-08

Nov-08

D ec-08

Jan-09

Feb-09

M ar-

09Apr

-09

PROPERTY LIABILITY (Incl PI) MOTOR (Fleet/Minifleet) ZERO

Commercial Rates to Apr ‘096.3%

5.7%3.0%

-8.0%

-6.0%

-4.0%

-2.0%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

Jan-07

Feb-07

M ar-

07Apr

-07M a

y-07

Jun-07

Ju l-07

Aug-07

Sep-07

Oc t-07

N ov-07

Dec-07

Jan-08

Feb-08

M ar-

08Apr

-08M a

y-08

Jun-08

Ju l-08

Aug-08

Sep-08

O c t-08

Nov-08

D ec-08

Jan-09

Feb-09

M ar-

09Apr

-09

PROPERTY LIABILITY (Incl PI) MOTOR (Fleet/Minifleet) ZERO

Commercial Rates to Apr ‘096.3%

5.7%3.0%

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

CTB Other

GW

P (£

M)

0.0%

20.0%

40.0%

60.0%

80.0%

100.0%

120.0%

140.0%

160.0%3-

Year

Cor

e Cl

aim

s Ra

tio

GWP 3-Year Core ECR

Cleanse the Book

Exit 60% & carry 30% rate uplift on rest

Monitor, MentorMeasure

Case level management

TOTAL IB

Region 2 Yr GWP2 Yr Core

NECR 2 Yr GWP2 Yr Core

NECR 2 Yr GWP2 Yr Core

NECR 2 Yr GWP2 Yr Core

NECR 2 Yr GWP2 Yr Core

NECR 2 Yr GWP2 Yr Core

NECR 2 Yr GWP2 Yr Core

NECR 2 Yr GWP2 Yr Core

NECR 2 Yr GWP2 Yr Core

NECRSouth £71.9 28.7% £8.8 52.7% £64.6 28.3% £24.5 46.1% £29.2 28.2% £39.7 56.2% £0.8 39.7% £10.6 29.5% £41.0 51.0%West & South Wales £8.7 30.0% £9.9 60.6% £62.9 39.5% £29.8 59.8% £27.9 33.9% £41.2 58.3% £4.3 55.3% £8.7 32.8% £38.8 41.5%London City £72.5 30.1% £41.9 40.0% £41.0 28.0% £10.2 46.3% £32.7 24.2% £14.9 69.9% £9.4 68.8% £3.0 44.4% £19.0 46.2%London NB £112.3 23.3% £8.5 66.7% £61.2 33.8% £5.5 28.1% £43.1 19.6% £5.8 84.4% £1.7 55.4% £12.3 31.0% £8.5 34.7%Midlands £11.0 29.3% £6.5 50.6% £50.7 42.3% £24.0 51.5% £26.7 27.7% £33.6 63.1% £1.4 39.7% £6.4 37.4% £20.2 46.3%Scotland & NI £11.6 40.1% £16.4 35.3% £50.1 38.0% £23.0 60.0% £37.2 32.5% £28.0 51.0% £11.7 49.8% £11.3 41.7% £36.6 47.4%North East £25.8 44.1% £12.3 51.1% £55.6 42.2% £16.3 57.9% £16.8 27.0% £29.0 60.2% £1.7 43.3% £11.7 30.7% £21.4 44.2%North West £35.1 36.1% £3.6 19.6% £47.7 36.4% £20.4 57.9% £15.4 18.9% £32.6 54.6% £3.3 46.4% £4.1 30.4% £16.0 48.9%East £20.0 65.3% £24.1 46.0% £42.1 28.5% £19.3 33.1% £31.3 55.7% £22.0 49.2% £7.4 76.5% £1.3 50.1% £15.9 45.4%National Accounts £2.0 38.5% £115.1 33.1% £9.9 43.2% £3.0 51.6% £8.9 13.0% £6.5 75.3% £12.7 67.4% £2.1 36.3% £5.0 45.7%Leicester NB £4.5 37.9% £0.0 0.0% £23.8 47.1% £7.0 106.6% £10.8 48.0% £13.5 67.1% £0.6 96.4% £12.0 30.2% £10.2 30.5%Birmingham NB £5.6 37.4% £5.8 24.3% £24.7 42.9% £1.8 52.9% £4.4 32.4% £5.2 72.0% £0.1 12.5% £4.2 32.5% £2.0 27.1%ManchesterNB £1.0 32.7% £0.1 1.2% £19.6 39.0% £1.8 26.3% £1.1 23.7% £2.7 64.2% £0.0 0.0% £3.3 17.2% £2.5 20.7%Glasgow NB £0.0 5.3% £0.0 0.0% £14.9 47.2% £1.2 26.6% £10.3 31.4% £2.8 52.0% £1.3 18.6% £5.2 22.7% £0.9 16.0%Unallocated £3.4 8.3% £0.0 0.0% £3.7 22.3% £1.5 20.9% £1.5 4.3% £2.7 59.3% £0.8 65.7% £0.0 0.0% £0.1 408.3%Belfast NB £0.2 40.8% £0.0 0.0% £5.1 31.0% £2.9 110.9% £3.1 15.4% £1.4 48.3% £0.1 98.8% £1.5 24.0% £2.1 33.9%Total £386.4 31.9% £252.9 39.8% £577.8 36.4% £192.2 53.4% £300.5 30.0% £281.8 59.2% £57.5 59.7% £97.9 32.7% £240.2 44.8%

2009 Plan Core NECR 32.0% 37.8% 38.0% 42.5% 32.2% 46.0% 47.3% 37.9% 38.7%

Key :NECR worse than Target by 5% pointsNECR within +/- 5% points of TargetNECR better than Target by 5% points

Red Rate Target £69.6 10.1% £70.1 6.6% £48.7 10.3% £128.1 10.2% £42.0 12.6% £230.4 7.7% £37.1 6.1% £4.3 6.3% £175.3 4.8%Amber Rate Target £200.1 6.9% £173.3 6.4% £372.5 6.2% £34.8 9.2% £135.8 6.9% £51.4 7.7% £16.7 6.0% £19.8 6.3% £49.4 4.8%Green Rate Target £115.7 5.0% £9.5 5.0% £156.6 5.0% £29.3 5.0% £122.7 5.0% £0.0 7.7% £3.7 5.0% £73.7 6.3% £15.6 4.8%

Overall Rate Target £385.4 6.9% £252.9 6.4% £577.8 6.2% £192.2 9.2% £300.5 6.9% £281.8 7.7% £57.5 6.0% £97.8 6.3% £240.2 4.8%

CHC

Large Property Owners General Combined

OSP/PRP etcCMT CMEAGRCCI CTC

Construction Combined

Commercial Property OwnersComplex Schemes

CHC CPO

Motor Trade AgricultureGeneral Commercial

Combined (legacy Bonus)

Package Products

Monitor, MentorMeasure

Case level management

TOTAL IB

Region 2 Yr GWP2 Yr Core

NECR 2 Yr GWP2 Yr Core

NECR 2 Yr GWP2 Yr Core

NECR 2 Yr GWP2 Yr Core

NECR 2 Yr GWP2 Yr Core

NECR 2 Yr GWP2 Yr Core

NECR 2 Yr GWP2 Yr Core

NECR 2 Yr GWP2 Yr Core

NECR 2 Yr GWP2 Yr Core

NECRSouth £71.9 28.7% £8.8 52.7% £64.6 28.3% £24.5 46.1% £29.2 28.2% £39.7 56.2% £0.8 39.7% £10.6 29.5% £41.0 51.0%West & South Wales £8.7 30.0% £9.9 60.6% £62.9 39.5% £29.8 59.8% £27.9 33.9% £41.2 58.3% £4.3 55.3% £8.7 32.8% £38.8 41.5%London City £72.5 30.1% £41.9 40.0% £41.0 28.0% £10.2 46.3% £32.7 24.2% £14.9 69.9% £9.4 68.8% £3.0 44.4% £19.0 46.2%London NB £112.3 23.3% £8.5 66.7% £61.2 33.8% £5.5 28.1% £43.1 19.6% £5.8 84.4% £1.7 55.4% £12.3 31.0% £8.5 34.7%Midlands £11.0 29.3% £6.5 50.6% £50.7 42.3% £24.0 51.5% £26.7 27.7% £33.6 63.1% £1.4 39.7% £6.4 37.4% £20.2 46.3%Scotland & NI £11.6 40.1% £16.4 35.3% £50.1 38.0% £23.0 60.0% £37.2 32.5% £28.0 51.0% £11.7 49.8% £11.3 41.7% £36.6 47.4%North East £25.8 44.1% £12.3 51.1% £55.6 42.2% £16.3 57.9% £16.8 27.0% £29.0 60.2% £1.7 43.3% £11.7 30.7% £21.4 44.2%North West £35.1 36.1% £3.6 19.6% £47.7 36.4% £20.4 57.9% £15.4 18.9% £32.6 54.6% £3.3 46.4% £4.1 30.4% £16.0 48.9%East £20.0 65.3% £24.1 46.0% £42.1 28.5% £19.3 33.1% £31.3 55.7% £22.0 49.2% £7.4 76.5% £1.3 50.1% £15.9 45.4%National Accounts £2.0 38.5% £115.1 33.1% £9.9 43.2% £3.0 51.6% £8.9 13.0% £6.5 75.3% £12.7 67.4% £2.1 36.3% £5.0 45.7%Leicester NB £4.5 37.9% £0.0 0.0% £23.8 47.1% £7.0 106.6% £10.8 48.0% £13.5 67.1% £0.6 96.4% £12.0 30.2% £10.2 30.5%Birmingham NB £5.6 37.4% £5.8 24.3% £24.7 42.9% £1.8 52.9% £4.4 32.4% £5.2 72.0% £0.1 12.5% £4.2 32.5% £2.0 27.1%ManchesterNB £1.0 32.7% £0.1 1.2% £19.6 39.0% £1.8 26.3% £1.1 23.7% £2.7 64.2% £0.0 0.0% £3.3 17.2% £2.5 20.7%Glasgow NB £0.0 5.3% £0.0 0.0% £14.9 47.2% £1.2 26.6% £10.3 31.4% £2.8 52.0% £1.3 18.6% £5.2 22.7% £0.9 16.0%Unallocated £3.4 8.3% £0.0 0.0% £3.7 22.3% £1.5 20.9% £1.5 4.3% £2.7 59.3% £0.8 65.7% £0.0 0.0% £0.1 408.3%Belfast NB £0.2 40.8% £0.0 0.0% £5.1 31.0% £2.9 110.9% £3.1 15.4% £1.4 48.3% £0.1 98.8% £1.5 24.0% £2.1 33.9%Total £386.4 31.9% £252.9 39.8% £577.8 36.4% £192.2 53.4% £300.5 30.0% £281.8 59.2% £57.5 59.7% £97.9 32.7% £240.2 44.8%

2009 Plan Core NECR 32.0% 37.8% 38.0% 42.5% 32.2% 46.0% 47.3% 37.9% 38.7%

Key :NECR worse than Target by 5% pointsNECR within +/- 5% points of TargetNECR better than Target by 5% points

Red Rate Target £69.6 10.1% £70.1 6.6% £48.7 10.3% £128.1 10.2% £42.0 12.6% £230.4 7.7% £37.1 6.1% £4.3 6.3% £175.3 4.8%Amber Rate Target £200.1 6.9% £173.3 6.4% £372.5 6.2% £34.8 9.2% £135.8 6.9% £51.4 7.7% £16.7 6.0% £19.8 6.3% £49.4 4.8%Green Rate Target £115.7 5.0% £9.5 5.0% £156.6 5.0% £29.3 5.0% £122.7 5.0% £0.0 7.7% £3.7 5.0% £73.7 6.3% £15.6 4.8%

Overall Rate Target £385.4 6.9% £252.9 6.4% £577.8 6.2% £192.2 9.2% £300.5 6.9% £281.8 7.7% £57.5 6.0% £97.8 6.3% £240.2 4.8%

CHC

Large Property Owners General Combined

OSP/PRP etcCMT CMEAGRCCI CTC

Construction Combined

Commercial Property OwnersComplex Schemes

CHC CPO

Motor Trade AgricultureGeneral Commercial

Combined (legacy Bonus)

Package Products

ARI Segment

5%

7%

9%

11%

13%

15%

17%

19%

21%

1 2 3 4 5 6 7 8 9 10

Freq

uenc

y

50%

60%

70%

80%

90%

100%

110%

120%

Loss

Rat

io

Loss Ratio - Retro

• Expected loss ratio based on 2005 / 06 sample used as to assess ARI benefit• Actual Written frequency of policies written in September 08

Building core insurance capabilityAviva Risk Index

Expected loss ratio vs actual frequency

Sep 08 Written Frequency

ARI Segment

• Retention rate is overall retention between February and April 2009• Cancellation rate for new business written in October

Retention & cancellations

Building core insurance capabilityAviva Risk Index

0%

5%

10%

15%

20%

25%

30%

35%

1 2 3 4 5 6 7 8 9 10Ritz Se gm e nt

Canc

ella

tion

Rat

e

50%

55%

60%

65%

70%

75%

Ret

entio

n Ra

te

NB Cancellation Rate (Oct 08) Retention Rate (Feb - Apr 09)

ARI Segment

Demonstrating leadership in the market

Signs of hardening but market remains tough

Building core insurance capabilityRating

-8.0%

-6.0%

-4.0%

-2.0%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

Jan-0

7Fe

b-07

Mar-0

7Ap

r-07

May-0

7Ju

n-07

Jul-0

7Au

g-07

Sep-0

7Oc

t-07

Nov-0

7De

c-07

Jan-0

8Fe

b-08

Mar-0

8Ap

r-08

May-0

8Ju

n-08

Jul-0

8Au

g-08

Sep-0

8Oc

t-08

Nov-0

8De

c-08

Jan-0

9Fe

b-09

Mar-0

9Ap

r-09

PROPERTY LIABILITY (Incl PI) MOTOR (Fleet/Minifleet) ZERO

Commercial Rates to Apr ‘096.3%

5.7%3.0%

Delivering the promise of scale

c900 Applications

Delivering the promise of scaleTwo major programmes

Operations2010

IT2010

Perth

StretfordManchester

NorwichCheadle

BishopbriggsPerth

Stretford

Norwich

Bishopbriggs

Pune

Bangalore

Personal

Commercial

Mixed

Southend

Manchester

Leicester

Perth

StretfordManchester

NorwichCheadle

BishopbriggsPerth

Stretford

Norwich

Bishopbriggs

Pune

Bangalore

Personal

Commercial

Mixed

SouthendSouthend

ManchesterManchester

LeicesterLeicester

NoidaNoida

Migration to Centres of Excellence on schedule – 60% in place10 major processes redesigned & in implementation, e.g. motor claims, with Q1 technology release completedContinuous improvement capability implemented to support new processesAnnualised savings tracking to plan with costs also on targetService levels maintained or improved through transition

Professional Broking Sentiment Survey no1, May ’09Direct/RAC customer satisfaction ahead of 2008 for Q1 ‘09

2007 2008 2009 2010 2011

£355m £258m £210m £180m £

Inflation

C&E £38m

One-offs

09 & 10 Inflation

One-offs

Phase 2

Cost

£150m

Phase1 Cost

Reduction

2007 20102008 FY

“ Building Aviva from the inside out “

… and as we became Aviva in the UK

• >80% awareness in 4 months

• 16,000 pieces of literature reviewed & >40% made obselete

GENERAL

• 3,000 managers attended ‘This is Our Story’ cinema presentations

• All staff involved in ‘This is Us’ team sessions

EMPLOYEES

“Get me”

“Get the plot”

“Get it done”

• GI - 3,000 brokers contacted• Life - 30k distributors contacted

BROKERS/IFAs

• Communicated to 9m GI / 7m Life customers

• New aviva.com/.co.uk

• >40 websites rebranded

CUSTOMERS

Summary

2011

37.2%

25.1%

12.1%

2008

39.8%

25.9%

13.9%

2007

Commission

Total Distn

Expenses

10 point improvement

…”sub 11%”…

…” targeted commission action”…

30% world

Loss Ratio 66.0% 62.1% … “sophisticated pricing”…

… “disciplined underwriting”…

Focus on Profit

Investor PresentationMay 2009