Rating Recap: AVIVA

October 9, 2007

A.M. Best Co. has affirmed the issuer credit rating (ICR) of “a” of the non-operating holding company, AVIVA plc, and the financial strength rating (FSR) of ‘A+’ (Superior) and the ICR of “aa-” of its rated subsidiaries. Best also assigned an FSR of ‘A+’ (Superior) and an ICR of “aa-” to AVIVA’s main European entities. The ratings of a number of debt securities issued by AVIVA plc also have been affirmed. “The ratings of AVIVA and its subsidiaries reflect the group’s broader degree of geographical diversification, robust financial performance and excellent capitalization with significant use of subordinated debt and value of in-force business,” said Best. The rating agency also noted that AVIVA is the largest insurance group in the UK and the “fifth largest worldwide by gross premiums written, with top 10 positions in several European markets.”

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