Aviva UK Life April 2015

Aviva UK Life April 2015

Aviva UK Life 2 The No 1 UK Life insurance provider Digital innovation Relationship expertise Aviva Composite insurer Extensive product range 300+ years of heritage Customer focus Shared values Financial strength Stronger and better together Back book management expertise Leading corporate pensions Friends Life provider Strong brand Proposition innovation

Aviva UK Life 3 Our UK Life ambition: the insurer that customers turn to first to help them enjoy a secure and prosperous retirement to protect them and their loved ones Our focus is to support our customers at some of the most significant moments in their lives, helping them to enjoy a secure and prosperous retirement, and protecting their loved ones should they die or fall ill. Living by our values and doing the right thing for our customers means we will build a sustainable, strong and successful business. Andy Briggs CEO, Aviva UK & Ireland Life

Aviva UK Life 4 Better together for our customers The UK s leading life and pensions business, providing award-winning retirement, savings and protection products to 12 1 million customers. What makes us different Our starting point is the customer: we look at everything from their perspective to understand how we can meet their needs. We offer one of the most comprehensive ranges of award-winning life insurance products in the market: retirement, savings, pensions and protection. Customers and Partners Deliver superior customer and partner benefits (True customer composite, 'digital first', multiple channels) More broadly, we are part of the only UK insurer who can offer customers a full range of life, general and health insurance and asset management - all in one place. Our digital first strategy is central to making life easier and simpler for our customers. We have a broad range of simple and convenient ways for customers to access our products. We are committed to driving value for our customers through expert management of the UK s largest back book of life policies. Customers benefit from the security of being part of a larger and more diverse international insurer. Colleagues Best people, highly motivated, living the values (Create legacy, Kill complexity, Never rest and Care more) Shareholders Deliver cash flow plus growth 1. Before removal of duplication of Aviva and Friends Life customers.

Aviva UK Life 5 A stronger, better provider No.1 12 million UK Life customers 1 UK s leading provider of life and pensions2 Largest volume of life and pension assets under administration - c 230bn The UK s market leading life and pensions provider 3 15% 25% 23% 23% Largest UK corporate pension provider with 47bn assets under management No.1 Total UK Life market share No.1 Individual annuities No.1 Protection (inc: Group Risk) No.1 Group Personal Pensions 1 in 4 retiring defined contribution pension customers have an Aviva pension Breadth: the largest UK insurance group to offer life, general and health insurance and asset management Expertise: some of the best talent in the market to deliver for our customers Giving customers choice: extensive products and broadest access Annuities Life Insurance Corporate Pensions Critical Illness Equity Release Group Protection Income Protection Investments Long-Term Care Direct Independent Financial Advisers RBS Barclays Post Office Tesco Santander Connells Countrywide Virgin Money Financial strength, large customer base, multi products and multi distribution 1. Before removal of duplication of Aviva and Friends Life customers. 2. Source: Aviva company reports and analysis. 3. Volume market share, ABI Full Year 2014. Ranking sourced from Aviva company reports and analysis.

Aviva UK Life 6 We offer the most comprehensive range of life insurance products and hold market leading positions across retirement, pensions, savings, life and protection. Retirement solutions With our customer focus and expertise we are best placed to help retirees navigate the new pensions freedoms. Our market-leading products include annuities, income drawdown, equity release and long-term care. see page 14 Workplace benefits The largest corporate pension provider in the market, we hold 47 billion of assets in a market set to triple in the next decade. With an established track record in bulk purchase annuities, we support large corporates and are focused on helping SMEs through auto enrolment. see page 15 Protection An extensive product range to provide customers with peace of mind that their lives and loved ones are protected from unforeseen events. Products include life insurance, critical illness cover and income protection. see page 16 Group protection A market-leading group protection offering, helping employers and employees with group life, critical illness and income protection solutions, including flexible benefits arrangements. see page 17 Investments We have over 300 years history of managing investments for our customers, with asset management expertise from Aviva Investors providing specific investment outcomes through standalone funds and tailored portfolios of assets, including our successful AIMS range. see page 18 Existing customers We have the UK s largest back book of life policies, serving 6.5 million customers. We manage this book effectively and efficiently to offer continued value for money for customers. see page 19

Aviva UK Life 7 Customers are at the heart of everything that we do At Aviva we have as much focus on our 16 million 1 existing UK customers as on our new ones. We support customers when it matters most - in 2014 we paid out 2.1 million per day in life insurance and critical illness claims in the UK 2. We put ourselves in their shoes, doing the right thing by them - and we ask our customers to rate and review their experiences on Aviva.co.uk We take the hassle out of life with simple digital solutions. In 2014 we were voted Digital Insurer of the Year. We understand what s important to them. We regularly carry out customer research so we can help them to plan and stay in control. In 2014 we won 47 awards including Best Protection Provider, Best Personal Pension Provider and Health Insurance Company of the Year. I am very proud that we give our support, emotionally and financially, when it matters the most. Debra Aviva employee Quick, professional, helpful. Sorted me out with the minimum of fuss and the maximum of help. Jane and Andy Aviva customers 1. Total number of UK customers (Life and GI) before removal of duplication of Aviva and Friends Life customers. 2. Combined Aviva and Friends Life UK claims figures.

Aviva UK Life 8 We support customers through every stage of their lives We are part of the only insurer in the UK to offer life, general and health insurance, and asset management a True Customer Composite. We help customers manage the risks of everyday life, and provide them with an easy-to-understand, convenient experience, when and how they want it. Life insurance Retirement Income, Savings, Pensions, Life Cover, Protection General insurance Home, Motor, Travel, Pet and Commercial Health insurance Private Medical Insurance We support our customers through every stage of their lives Asset management Asset management for Aviva and other clients

Aviva UK Life 9 Making life easier through digital and mobile MyAviva: our ambition for a digital one stop shop for all our customers insurance and savings needs. Through MyAviva we want to create Digital Insurer of the Year One customer view One place for all products and services One statement One premium No paper

Aviva UK Life 10 Simple, convenient access to our products and services We offer our products through multiple channels so that customers can access them in the way that they choose. Direct Digital MyAviva Phone Face to face Barclays, RBS, Santander, Virgin Money Post Office Tesco Countrywide, Connells, LSL Group Strategic partners Intermediary Employers Independent financial advisers Employee benefits consultants Large corporates Small and medium sized enterprises (SMEs)

Aviva UK Life 11 Delivering strong cash flow and growth to the Aviva Group We are an iconic British business and this is our home base. Being the strongest player in the UK is critical to our performance. We will focus on a select number of markets where we have scale and profitability or a distinct competitive advantage where we can win. Delivering cash and growth to the Group Our focus on the UK is incredibly important to us. 16 1 million UK customers stand to benefit from being part of the stronger, more diversified and resilient group with a wide range of products. Cash flow Back Book Costs Superior back book management Scale and cost advantage Growth Market Leadership Scale leadership positions across core UK Life growth markets Customer Opportunity Improved customer proposition 1. Total number of UK customers (Life and GI) before removal of duplication of Aviva and Friends Life customers.

Aviva UK Life 12 UK & Ireland Life Executive Committee (LEC) CEO Andy Briggs Ireland CEO Hugh Hessing Chief Finance Officer and Group Business Development Officer John Lister MD Retirement Clive Bolton MD Corporate and Business Solutions Andy Curran MD Strategic Partners and Protection Rob Barker MD Aviva Plus Stephen Shone Chief Risk and Compliance Officer Rosie Harris Chief Operating Officer Kevin Moss Strategy Director James Ward Acting HR Director Ceri Connolly HR Integration Director Kim Clarke UK Chief Information Officer Rob Houghton

Aviva UK Life 13 Appendix

Long-term care Aviva UK Life 14 Retirement solutions A wide range of retirement solutions to help customers plan, save for and enjoy a financially secure retirement. We are focused on helping customers find their way through the new pension freedoms. We are the largest provider of retirement solutions overall in the UK. Annuities Income drawdown We offer one of the most flexible and comprehensive ranges of retirement products. We re number one in the market for both individual annuities and equity release 1. We represent 1 in 4 retiring defined contribution pension customers, managing 4.4 billion of maturing pensions annually. Retirement solutions Fixed term retirement plans Equity release Number 1 in individual annuities and equity release by volume market share 1 Individual annuity market share: 23% based on ABI data Full Year 2014 Market expected to more than triple in size in the next 10 years 1. Source: Aviva company reports and analysis.

Aviva UK Life 15 Workplace benefits We are the largest corporate pensions provider in the market with 47 bn of assets. We will optimise the complementary nature of both businesses in terms of distribution, proposition and client focus. We have a comprehensive range of workplace and flexible benefits, with breadth and depth across the entire corporate pensions market. Strength in both the SME and the large corporate markets, with excellent EBC and adviser relationships. New solutions for customers accessing new pension freedoms. Leading position in flex benefits market Supporting customers to and through retirement 1.1m SMEs need to set up a pension scheme by July 2017 Number 1 in Corporate Pensions by volume of assets 1 Market share: 23% (GPP) based on ABI data Full Year 2014 Market expected to triple in size in the next 10 years 1. Source: Aviva company reports and analysis.

Aviva UK Life 16 Protection Best placed to meet the protection needs of UK customers through an extensive and complementary range of products and distribution channels. We are the number 1 provider of protection insurance in the UK 1. We offer an extensive protection product range to suit customers needs, with the best distribution footprint. Our products compete in all areas of the market, from customers looking for straightforward protection products from a trusted provider, to extended packages that go beyond traditional life insurance. Customers can buy their protection through an intermediary or direct, or through an enviable range of strategic partners including Tesco, the Post Office, leading banks and estate agents. Our claims pay out records are market leading - reassurance when it matters most. Leading market position with wide product range Only 4 in 10 UK families have life insurance Being there for customers when it matters most Number 1 in protection by volume market share (inc, Group Risk) 1 Individual protection market share: 23% based on ABI data Full Year 2014 Market expected to increase by 60% in the next 10 years 1. Aviva company reports and analysis.

Aviva UK Life 17 Group protection A market leading group risk offer, with in-house leading clinical and rehabilitation capabilities. We are a leading Group Risk provider and protect around 2.4 million lives through our combined workplace protection portfolio. We have a leading position in the flexible benefits market. In 2014 we paid out over 270 million in death, critical illness and income protection benefits, helping employees and their loved ones in their times of need. Leading in-house clinical and rehabilitation capabilities, with a focus on improving return to work rates for corporate clients. Helping employers attract and retain staff Leading clinical and rehabilitation capabilities, with a focus on return to work Combining people, product and processes to deliver employer solutions Number 1 in Group Risk by volume market share 1 Group Risk market share: 28% based on ABI data Full Year 2014 Market premium income expected to grow by 80% over the next 10 years 1. Source: Aviva company reports and analysis.

Aviva UK Life 18 Investments A leading multi-asset solutions provider with a 300 year history. We manage c230bn of customer funds across a range of Unit Linked, With Profits and mutual funds. Asset management expertise from Aviva Investors provides customers with the benefit of investment diversification, helping them to meet their financial goals. Our new and successful AIMS (Aviva Investors Multi-Strategy) fund range comprises outcome-oriented solutions that follow a multi-strategy investment approach. Our fast growing Adviser Platform regularly tops the Platforum Market Monitor. A new digital direct-to-consumer offering provides products (Funds, ISA and SIPP), investment options, tools and support to help customers make the most of saving and investing. AIMS Target Return and AIMS Target Income funds launched 2014 In 2014 our customers made over 11bn new investments through Aviva products A new digital direct-to-consumer offer Number 1 by volume of assets under administration: c 230bn 5bn assets under administration on our Adviser Platform and growing Potential for UK platform market to grow to c 2 trillion in the next decade 1 1. Source: Platforum and Aviva analysis based on current growth rates.

Aviva UK Life 19 Existing customers Superior management experience will unlock further value from our back book 1 We hold the largest back book of policies in the UK. We look after 6.5 million customers with around 135 billion assets under management. In addition to significant scale, we have a market leading management team with a proven track record in managing back books. Our focus is to manage capital, costs and retention in our back book more efficiently. We aim to unlock value for both customers and shareholders, while continually reviewing and enhancing the service we give to these customers. Increase cash flow and efficiency from our back book c. 135 billion assets under management Striving for excellent service Strong customer focus Management expertise Understanding our customers and their needs 1. Policies which are no longer marketed, but are still managed as premium-paying policies.

106028342_AVIVA_LIFE_UK_03_15 Aviva plc St Helen's, 1 Undershaft London EC3P 3DQ +44 (0)20 7283 2000 www.aviva.com Registered in England Number 2468686