TEP – 20 November 2007

Insurance group Aviva has today announced a direct growth strategy for the business over the coming twelve months. Chief Executive Andrew Moss rolled out the programme dubbed ‘One Aviva, twice the value’ which will see the firm grow its business domestically and overseas.

The move marks Aviva’s notable shift towards expansion over the last few months, with a specific focus on developing into international markets. With the commencement of the programme will come a more aggressive corporate attitude within Aviva, driving for greater efficiency and cost savings through expansion.

Within the UK market, Aviva will look to developing its long term savings product lines in keeping up with the aggressively growing market, whilst in Europe growth has been charter at a minimum of 10% a year up until the end of the decade.

Amibitious strategies for the US operation see Aviva looking to double their presence and market share within the next three years, whilst the Asia Pacific outlook favours aggressive charted growth at a minimum of 20% per annum until the end of the decade.

Moss today described the move as a period of transformation for the company as it looks to consolidate assets within its global insurance market. By integrating separate divisions under the Aviva umbrella and working together for the common good, the executive hopes to achieve growth targets and boost the bottom line over the next few years.

The company will also be striving for an increased return on capital employed throughout the process, currently calculated at 12.5% return.

It remains to be seen whether the new strategy will come to fruition, and indeed whether Aviva will maintain its targets for growth over the next two years.