© Aviva plc

Aviva at a glance

Aviva has emerged from tough times in good shape and is well-positioned to take advantage of a market upturn

Operationally,

we aim to be

the insurance

industry’s low-

cost producer

and provider

of choice

Improved productivity…

rigorous financial management…

generating cash flow from our

general insurance business…

focusing on capital management

and costs…

improving customer service and

sharing best practice group-wide…

We achieved our operational

targets by…

As a result we have reported…

£1,907m operating profit before tax

£30bn premium income and investment sales

from continuing operations

£240bn assets under management

£14.4bn worldwide long-term savings new business sales

£911m General Insurance operating profit from continuing

operations

Long-term savings

“There are excellent opportunities to develop our

strong positions in Europe and emerging markets

through our multi-distribution capability” Philip Scott Group Executive Director

Aviva Life International

“We have made substantial progress in improving customer

service through greater productivity in 2003” Gary Withers Chief Executive

Norwich Union Life

“We have created

an excellent formula.

We have ambitious plans

for business development

to ensure Aviva remains

a permanent fixture

as market leader”. Gerardo Arostegui Chief Executive

Aviva Spain

“We are delighted by the strong

performance of our new

operations in South East Asia.

Our controlled growth strategy

is working well.” Charles Anderson Managing Director

Aviva Asia Financial Services

General insurance

“We have demonstrated our ability

to deliver consistent earnings

in a rapidly changing market”

Patrick Snowball Group Executive Director

Aviva General Insurance

“The premium discount

we have introduced for

drivers with penalty points-

free licences is part of our

effort to change and

improve behaviour on

our roads.”

Bryan Jenkins

Chief Executive Hibernian

“Our new agreement with

Loblaws represents an excellent

growth opportunity for Aviva.”

Igal Mayer President Chief Executive

Aviva Canada

Fundmanagement

Aviva’s in-house fund management

business aims to generate superior

investment performance for

shareholders, policyholders

and institutional clients.

“Our new, pioneering investment

administration service with JP Morgan

Investor Services will allow us to focus on

core capabilities – the manufacture and

distribution of investment products to our

target European markets”.

Keith Jones Chief Executive Morley Fund Management

An Award-Winning company

Norwich Union voted UK General Insurer

of the Year by Insurance Times in 2003

www.aviva.com wins awards for best

website for both private and institutional

investors

France – Aviva Gestion d’Actifs earned the

gold Lauriers award for unit trust

performance

Hibernian wins the Prince Michael

of Kent International Road Safety

Award for “Ignition” – a training

programme to improve young

people’s driving skills

Norwich Union

Healthcare wins

Best Healthcare

Provider in the UK

for the 3rd successive

year at the Money

Marketing Awards

Aviva has been designated a Caring Company by

the Hong Kong Council of Social Services in recognition

of its contribution to the local community

Actingresponsibly

Our Corporate Social Responsibility programme now covers 98% of staff worldwide

We are first in sector and fifth overall in BiTC Corporate Responsibility Index

and are the only UK insurer included in both Dow Jones Sustainability World and STOXX indexes

86% of UK electricity is sourced from renewable sources

Paper use has decreased by 33% over the year and waste recycling has increased

CO2 emissions have reduced by more than 20%

BuildingOur brand

In 2003 Aviva invested £4.6 million

in community initiatives worldwide.

Around the world, our staff donated

11,500 hours to volunteering schemes

In 18 months Aviva has been successfully rolled

out as our trading brand in over 20 markets

within existing marketing budgets, from Canada

to China, Hungary to Hong Kong, Singapore to Spain.

Aviva-branded businesses generate

annual turnover exceeding £9 billion

A shared Aviva brand gives 30,000

staff a greater sense of identity

and teamwork around the world