25th Apr 2006 07:01
Aviva PLC25 April 2006 News release 25 April 2006 AVIVA'S CHINA JOINT VENTURE GRANTED NEW LICENCE FOR JINAN Aviva, the world's sixth largest insurer, has received regulatory approval forits joint-venture company, Aviva-COFCO, to open a branch office in the city ofJinan, the capital of Shandong province on China's east coast. Jinan is the province's political, economic and cultural centre, with apopulation of 5.69 million. It is also the hub of the transport andcommunication network of the Shandong Province, which has a total population ofover 90 million. This new licence brings the total number of cities in which Aviva-COFCO hasoperations to 12. Aviva already has branches in four major provinces ormunicipal cities, comprising Beijing, Guangzhou, Chengdu and Fuzhou with sevenadditional sub branches in Leshan, Mianyang and Nanchong (Sichuan province),Zhongshan, Foshan and Shenzhen (Guangdong province) and Xiamen (Fujianprovince). Philip Scott, executive director, Aviva International said: "We are delighted tohave received this licence for Jinan, particularly because it gives Aviva accessto yet another significant region of economic growth in China. This licencetakes us a stage closer to achieving our longer term ambition of achieving anaverage 10 per cent market share in 10 provinces or municipal Chinese cities by2010." - ends - Enquiries: Media Sue Winston, head of media relations: +44 (0)20 7662 8221Vanessa Booth, group media relations manager: +44 (0)20 7662 2482Rob Bailhache, Financial Dynamics: +44 (0)20 7269 7243 AnalystsCharles Barrows, investor relations director: +44 (0)20 7662 8115Nicole Marques, investor relations manager: +44 (0)20 7662 8302 Notes to editors: • Aviva is one of the leading providers of life and pensions to Europe with substantial positions in other markets around the world, making it the world's sixth largest insurance group based on both gross worldwide premiums and market capitalisation at 31 December 2004. • Aviva's principal business activities are long-term savings, fund management and general insurance, with worldwide total sales of £35 billion and assets under management of £317 billion at 31 December 2005. • A photograph of Philip Scott, executive director, Aviva International, is available at www.aviva.com/media/image library. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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