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TMCNet:  Aviva Announces Sale of Russian Business

[February 27, 2013]

Aviva Announces Sale of Russian Business

LONDON, Feb 27, 2013 (MARKETWIRE via COMTEX) -- 27 February, 2013 AVIVA ANNOUNCES SALE OF RUSSIAN LIFE AND PENSIONS OPERATIONS Aviva plc ("Aviva") today announces the sale of Aviva Russia to Blagosostoyanie, a non-state pension fund in Russia, for a consideration of EUR35 million. The consideration is payable in cash and represents a modest premium to IFRS book value. This transaction is consistent with Aviva's strategy to narrow the Group's focus to businesses and markets where Aviva has leadership positions.

The transaction, which is subject to the approval of the Federal Antimonopoly Service of the Russian Federation, is expected to complete in the first half of 2013.

Mark Wilson, Chief Executive Officer of Aviva plc, said:"We are pleased to have agreed the sale of our life and pensions operations in Russia to Blagosostoyanie. This transaction builds on the progress we have made to narrow Aviva's focus." -ends- Enquiries: Media Nigel Prideaux +44 (0)20 7662 0215 Andrew Reid +44 (0)20 7662 3131 Analysts Charles Barrows +44 (0)20 7662 8115 David Elliot +44 (0)20 7662 8048 Notes to editors: About Aviva * Aviva provides 43 million customers with insurance, savings and investment products.

* We are the UK's largest insurer and one of Europe's leading providers of life and general insurance.

* We combine strong life insurance, general insurance and asset management businesses under one powerful brand.

* We are committed to serving our customers well in order to build a stronger, sustainable business, which makes a positive contribution to society, and for which our people are proud to work.

* The Aviva media centre at includes images, company and product information and a news release archive.

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About Aviva in Russia * Aviva Russia was established in 2005 focused on the life and pensions market.

About Blagosostoyanie * Headquartered in Moscow, Blagosostoyanie has been operating in Russia for over 17 years and is currently one of the largest non-state pension funds in the country.

* Blagosostoyanie's core activities include non-state pension coverage and compulsory pension insurance. Blagosostoyanie's mission is to assist its clients in maintaining financial independence after retirement through pension savings management.

* As of September 2012, Blagosostoyanie's total assets are approximately EUR6.5 billion, including approximately EUR4.2 billion of pension reserves and EUR1.9 billion of pension savings. Blagosostoyanie serves over 2.8 million individual customers.

This information is provided by RNS The company news service from the London Stock Exchange END Contacts: RNS Customer Services 0044-207797-4400 Email Contact SOURCE: Aviva PLC id=A49E12B81B8DAA11

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