Aviva Plc · LSE:AV.

Aviva — Shareholder Meeting (April 2004)

18 slides from Aviva's shareholder meeting presentation, Apr 27, 2004

  1. Slide 1: Annual General Meeting

    Annual General Meeting 27 April 2004 1 2003 Final Results

  2. Slide 2: Pehr Gyllenhammar, Chairman

    Pehr Gyllenhammar Chairman 2 2003 Final Results

  3. Slide 3: Richard Harvey, Group Chief Executive

    Richard Harvey Group Chief Executive 3 2003 Final Results

  4. Slide 4: Overview

    Overview 4

  5. Slide 5: Benefiting from business and geographic mix

    Benefiting from business and geographic mix 2003 Profit* Business mix Geography UK General Continental General Life Europe Life 27% 33% 37% 63% Continental 8% Europe General RoW General 2% 27% RoW Life 3% UK Life 5 * Profit before tax, including life achieved profits, before corporate costs, unalloc

  6. Slide 6: Brand rationalisation has been completed

    Brand rationalisation has been completed Aviva branded Retained brands 6 * Turkey will also rebrand to Aviva in 2004

  7. Slide 7: Key achievements in 2003

    Key achievements in 2003 Life businesses outperformed • Regained No 1 position in the UK • Built the leading life business in Spain • Global leader in bancassurance • Improved margins to 26.1% (2002: 24.4%) Excellent general insurance performance • Sustainable earnings stream • Now targeting higher

  8. Slide 8: 2003 results ahead of market expectations

    2003 results ahead of market expectations 2003 2002 Premium income 1 £29.8bn £27.9bn Operating profit before tax 2 £1.91bn £1.72bn + 6% Post tax return on capital 1 12.7% 9.7% Dividend per share 24.15p 23.00p + 5% Funds under management £240bn £208bn 1 On continuing operations 8 2 On continuing oper

  9. Slide 9: Share price responding to improved results

    Share price responding to improved results Aviva for 2003 +11% Aviva to date* +27% 140 Equity market lows Aviva 120 FTSE E300 FTSE E300 LIFE 100 Positive reception 80 to Aviva results 60 * to 23 April 2004 9 1 Jan 31 Dec Source: Datastream

  10. Slide 10: Long-term savings

    Long-term savings 10

  11. Slide 11: UK Life regained leading position

    UK Life regained leading position • New business sales fell in 2003 • Norwich Union “most trusted brand” amongst UK competitors • Financial strength • Improved service to IFAs Market share % 12 12% 10 8 6 4 5% 2 11 0 1996 1997 1998 1999 2000 2001 2002 2003

  12. Slide 12: Success in bancassurance

    Success in bancassurance • Generating 23% of Aviva’s life and pension sales • Sales margin of 39.7% (Group average 26.1%) Bancassurance life & pension sales £600m +22% APE £300m 12 0 2000 2001 2002 2003

  13. Slide 13: Well placed to capture sales upturn

    Well placed to capture sales upturn • Strong market positions • Extensive distribution networks • Pensions expertise to benefit from widespread reforms • Developing in new markets 13

  14. Slide 14: General insurance

    General insurance 14

  15. Slide 15: Excellent performance

    Excellent performance • New target of 100% Combined Operating Ratio (COR) for years 2004 - 2006 104% COR* 102% 100% 15 * Continuing operations only 2001 2002 2003

  16. Slide 16: Scale advantages in the UK

    Scale advantages in the UK • Personal motor & home insurance cumulative increases 30% iums pr em ion h Un o rw ic Competitive N s advantage im 20% t cla ai m s r k e n cl ma Uni o UK ic h rw No 10% 16 2000 2001 2002 2003

  17. Slide 17: Outlook

    Outlook • Strong and sustainable outlook for general insurance • Well placed to capture upturn in European life market • Investment market recognising Aviva’s strengths 17

  18. Slide 18: Slide 18

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