17th Jan 2008 14:00
Aviva PLC17 January 2008 17 January 2008 News release AVIVA ACQUIRES UBI VITA Aviva plc ("Aviva") announces that it has reached an agreement with UBI Bancafor the acquisition of 50% plus 1 share in UBI Assicurazioni Vita S.p.A., anItalian life insurance company currently wholly-owned by UBI Banca, for aconsideration of €65 million (£49 million*). UBI Assicurazioni Vita distributes life insurance products through abancassurance agreement with Banca Popolare di Ancona and other channels. UBI Assicurazioni Vita will report life insurance gross written premiums of atleast €310 million# (£212 million(^)) for the year ended 31 December 2007 andgross technical reserves of at least €2.8 billion# (£2.1 billion(^)). Closing of the transaction, which is subject to certain conditions including theapproval of the relevant regulatory authorities, is expected to take place inthe first half of 2008. -ends- * At an exchange rate of 1.32 Euro/GBP # Unaudited Italian GAAP figures per UBI Banca announcement dated 17 January2008 (^) At 2007 exchange rates: average rate of 1.46 Euro/GBP and closing rate of1.36 Euro/GBP Enquiries: MediaSue Winston, head of group media relations +44 (0)20 7662 8221Danielle Anthony, group senior media relations manager +44 (0)20 7662 9511 AnalystsCharles Barrows, investor relations director +44 (0)20 7662 8115 Susie Yeoh, investor relations manager +44 (0)20 7662 2117 Notes to editors: • Aviva is the leading provider of life and pensions products in Europewith substantial positions in other markets around the world, making it theworld's fifth largest insurance group based on gross worldwide premiums for the12 months to 31 December 2006. • Aviva's principal business activities are long-term savings, fundmanagement and general insurance, with total worldwide sales of £41.5 billionand assets under management of £364 billion at 31 December 2006. • The Aviva media centre at www.aviva.com/media includes images, companyand product information and a news release archive. • UBI Banca (Unione di Banche Italiane S.c.p.a.) was created on 1 April2007 through the merger between Banche Popolari Unite (BPU) and Banca Lombarda ePiemontese. UBI Banca is listed on the Milan Stock Exchange with a marketcapitalisation of €11.3 billion. The Group has 1,923 branches in Italy, approx.€119 billion in total assets, €90 billion in lending, €89 billion in customerdeposits and €56 billion in assets under management (data as at 30 September2007). This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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