1. The future of bancassurance: Rebuilding confidence
David Angulo, Aviva Europe Bancassurance Director
Monday 7th June page 1

2. Bancassurance today BANKS MACROECONOMICS REGULATION CUSTOMER
Monday 7th June page 2

3. The environment Macroeconomics: Public accounts turmoil Unemployement
Volatility of financial markets
Banking industry:
Capital / P&L constrains
Restructuring underway
Potential liquidity issues
BANCASSURANCE
Customer:
Demand for protection
Savings propensity
Looking for guarantees
Regulation:
Solvency II
Basel II & III
Capital requirements
Monday 7th June page 3

4. Aviva 2009 performance
Monday 7th June page 4

5. The European market
Monday 7th June page 5

6. Aviva clear strategic delivery
Monday 7th June page 6

7. Aviva Q highlights
Q % growth of life business compared to previous quarter
Aviva Europe Bancassurance grew 48% from the previous quarter up to £2.611m with different performance through out the European markets and 20% growth from Q1 2009
Group margin in line with full year 2009
IGD solvency surplus at £4.400m after deducting final dividend (FY:£4.500m)
Strong growth of volumes in life business in Q and maintained focus on capital resources
Monday 7th June page 7

8. Macroeconomics & political situation
UNCERTAINTY
Unpopular reforms and political actions are being triggered by the current economic situation and governments should take the lead to promote private savings
Monday 7th June page 8

9. The final outcome of consolidation process is still unknown
The banking industry
UNCERTAINTY
Banks need additional sources of profit including general insurance business while margins are under pressure and lending activity is at very low level.
The final outcome of consolidation process is still unknown
Monday 7th June page 9

10. The customer
Given the current economic situation customers with increased savings propensity show a demand for protection a savings business providing guarantees
UNCERTAINTY
Monday 7th June page 10

11. Regulation
Uncertainty generated by regulation evolution in banking and insurance industries with potential increased capital requirements foreseen in the near future
UNCERTAINTY
Monday 7th June page 11

12. Foundations for bancassurance remain the same
EFICIENCY & EXCELENCE
SIMPLICITY
INTEGRATION
PROFITABILITY
BACK TO BASICS
Monday 7th June page 12

13. The future of bancassurance
Protection
General insurance
Specific savings
Joint venture vs. Distribution agreement
Demand:
Protection
Guarantees
Monday 7th June page 13

14. Summary of bancassurance
Bancassurance can cover some of the shortfall in banking P&L
Back to basics and focus on capital and results remain in current situation
Long term savings picking up compared to previous year
Potential to develop General insurance
Retention of current portfolios important in a difficult new business market
Market consolidation will change banking landscape in Europe
Regulatory changes may affect the participations of banks in insurance business
Uncertainty is driving customer demands
Governments should promote long term savings
and pensions in current environment
Bancassurance landscape to change in the medium term driven by consolidation and regulation but will remain as a relevant channel with additional potential to develop GI
Monday 7th June page 14

15. Andre Malraux (French historian, novelist and statesman 1901-1976)
“Often the difference between a successful person and a failure is not one has better abilities or ideas, but the courage that one has to bet on one's ideas, to take a calculated risk - and to act.”
Andre Malraux (French historian, novelist and statesman )
Monday 7th June page 15

16. Monday 7th June page 16
© Aviva plc