New Delhi, May 3, 2016: Aviva plc (“Aviva”) today announced that it has completed1 the acquisition of an additional 23% share in Aviva Life Insurance Company India Limited from its joint venture partner Dabur Invest Corp (a part of the Dabur Group) (“Dabur”).
The acquisition follows recent regulatory changes which allowed Aviva to increase its shareholding to 49%, being the maximum permitted under India’s foreign direct investment limits (“FDI”). The transaction is expected to have a neutral impact on Aviva’s IFRS Net Assets. In 2015, Aviva India contributed £36m to Aviva’s IFRS Net Assets2and £4m to Aviva’s Profits3
1. Completion occurred on 29 April 2016
2. Represents Investment in Associate at 31 December 2015 for Aviva’s 26% share of Aviva India
3. Represents Aviva’s share of profit before tax in Aviva India for the year ended 31 December 2015
Notes to editors
• Aviva provides life insurance, general insurance, health insurance and asset management to 33 million customers, across 16 markets worldwide
• In the UK we are the leading insurer serving one in every four households and have strong businesses in selected markets in Europe, Asia and Canada. Our shares are listed on the London Stock Exchange and we are a member of the FTSE100 index.
• Aviva’s asset management business, Aviva Investors, provides asset management services to both Aviva and external clients, and currently manages over £289 billion in assets.
• Aviva helps people save for the future and manage the risks of everyday life; we paid out £30.7 billion in benefits and claims in 2015.
• By serving our customers well, we are building a businesswhich is strong and sustainable, which our people are proud to work for, and which makes a positive contribution to society.
• The Aviva media centre at http://www.aviva.com/media/ includes company information, images, and a news release archive.
• For an introduction to what we do and how we do it, please click here http://www.aviva.com/about-us/aviva/
• For broadcast-standard video, please visit http://www.aviva.com/media/b-roll-library/
• Follow us on twitter: www.twitter.com/avivaplc/
• Follow us on LinkedIn:www.linkedin.com/company/aviva-plc
• For the latest corporate films from around our business, subscribe to our YouTube channel: www.youtube.com/user/aviva