17th Sep 2008 12:07
17 September 2008
AVIVA PROVIDES DETAILS OF ITS EXPOSURE TO AIG
As at close of business on 16 September 2008, the Aviva plc group ("Aviva") has exposure of £148 million (at face value) to American International Group, Inc. ("AIG"). £137 million (93%) of Aviva's exposure is to senior debt, with small amounts of exposure to subordinated debt and equity.
In addition, Aviva also has minimal exposure to insurance, reinsurance and other subsidiary companies in the AIG group.
Aviva continues to monitor developments in the market, and Aviva's risk management procedures and credit controls continue to ensure the group has a strong balance sheet and sound capital position.
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Enquiries:
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Media
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Sue Winston, head of group media relations
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+44 (0)20 7662 8221
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Danielle Anthony, senior group media relations manager
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+44 (0)20 7662 9511
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Vanessa Rhodes, senior group media relations manager
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+44 (0)20 7662 2482
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James Murgatroyd/Ed Simpkins, Finsbury
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+44 (0)20 7251 3801
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Analysts
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Charles Barrows, investor relations director
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+44 (0)20 7662 8115
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Jessie Burrows, head of investor relations
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+44 (0)20 7662 2111
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Susie Yeoh, investor relations manager
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+44 (0)20 7662 2117
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Notes to editors:
Aviva is the leading provider of life and pension products in Europe with substantial positions in other markets around the world, making it the world's fifth largest insurance group based on gross worldwide premiums at 31 December 2007.
Aviva's principal business activities are long-term savings, fund management and general insurance, with worldwide total sales of £49.2 billion at 31 December 2007 and funds under management of £359 billion at 30 June 2008.
The exposure to AIG set out in this announcement relates to Aviva shareholder funds.
The Aviva media centre at www.aviva.com/media includes images, company and product information and a news release archive.
For broadcast-standard video, please visit www.thenewsmarket.com/aviva.
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