Article date: 26 February 2008
Earlier this month Aviva plc ("Aviva"), the parent company of Norwich Union Life, announced that it had made an offer to the Policyholder Advocate to buy out the eligible policyholders' interests in the remaining inherited estate.
Norwich Union Life had asked for a response to this offer by the end of February but it has now been agreed that the Policyholder Advocate will respond in early March. This extension to the timetable recognises the complexity of the process.
Norwich Union Life and the Policyholder Advocate remain committed to trying to agree an offer that is fair to policyholders and shareholders.
An update will be provided in due course.
Head of Media Relations, Norwich Union Life
+44 (0)7800 699665
+44 (0)20 7251 3801
Director of Group Media Relations, Aviva
+44 (0)20 7662 7544
Investor Relations Director, Aviva
+44 (0)20 7662 8115
Notes to editors:
- Aviva is the leading provider of life and pensions to Europe with substantial positions in other markets around the world, making it the world's fifth largest insurance group based on gross worldwide premiums at 31 December 2006.
- Aviva's principal business activities are long-term savings, fund management and general insurance, with worldwide total sales of £41.5 billion and assets under management of £364 billion at 31 December 2006.
- The Aviva media centre at www.aviva.com/media includes images, company and product information and a news release archive.