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SMALL BUSINESS
Aviva Starts Trading on the New York Stock Exchange
Business Wire
Aviva plc (“Aviva”), the world's fifth largest insurance group*, starts
trading today on the New York Stock Exchange ("NYSE") under the ticker
symbol “AV”. Andrew Moss, group chief executive, will ring the Opening
Bell at the NYSE to mark Aviva’s first day of trading accompanied by
Lord Sharman of Redlynch, chairman of Aviva.
Aviva has established a level 2 American Depositary Receipt programme in
conjunction with Citibank. Each Aviva ADR represents two Aviva ordinary
shares. No new Aviva ordinary shares will be issued in connection with
the listing and Aviva will retain its current primary listing on the
London Stock Exchange.
Over 20% of Aviva’s shareholders are in the US and the listing gives
Aviva further access to a wider potential shareholder base and provides
US investors with a more convenient and cost efficient means to hold
Aviva’s shares.
Aviva has established a competitive position in North America. In the
US, the world’s largest savings market, Aviva is the leading provider of
indexed annuity and indexed life insurance products. The company is also
the second largest property and casualty insurer in Canada. The listing
will give further momentum to Aviva’s brand in the US as it looks to
grow retirement savings and insurance products, accelerate life
insurance sales and benefit from the country’s attractive demographics
over time.
Aviva has completed the preparations for listing as part of its ongoing
global finance programme. This enhances Aviva’s financial processes,
controls and risk management frameworks, bringing with it Sarbanes-Oxley
compliance and broader risk management benefits for the group.
Andrew Moss, group chief executive commented: “Listing on the New York
Stock Exchange is an important development for Aviva. The US is the
largest savings market in the world and represents a major growth
opportunity for us over the long term. Listing now is a natural step as
more than 20% of our shareholders are in the US and we expect that
number to increase.”
*based on gross worldwide premiums at 31 December 2008
Notes to editors:
- Photographs of Andrew Moss and Lord Sharman at the New York Stock Exchange and the Opening Bell ceremony will be available at: www.aviva.com/media
- A live webcast of the Opening Bell ceremony (beginning at 2.30pm GMT and 9.30am ET) will be available at www.nyse.com
- Aviva announced on 7 th October 2009 that it intends to list on the New York Stock Exchange.
- Aviva is the world’s fifth largest insurance group, serving 50 million customers across Europe, North America and Asia Pacific.
- Aviva's main business activities are long-term savings, fund management and general insurance, with worldwide total sales of £51.4 billion and funds under management of £381 billion at 31 December 2008.
- We are the largest insurance services provider in the UK and one of the leading providers of life and pension products in Europe.
- Aviva North America comprises the leading indexed annuity and indexed life business in the US and the second largest insurer in Canada.
- Aviva has a primary listing on the London Stock Exchange and is also listed on the New York Stock Exchange through an American Depositary Receipt programme.
- The Aviva media centre at www.aviva.com/media includes images, company and product information and a news release archive.
- For broadcast-standard video, please visit www.thenewsmarket.com/aviva.
Photos/Multimedia Gallery Available:
http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6077208&lang=en
Copyright Business Wire 2009
2009-10-20 11:00:00
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