Making Your Choice

Policyholder Update 9 November 2009

Dear Policyholder,

This morning we are publishing our final report in respect of the reattribution. This is very much for the record as the High Court has approved the reattribution and Aviva is now in the process of sending cheques to policyholders who accepted the offer.

The report contains a foreword from the policyholder advocate, Clare Spottiswoode, and sets out in summary: the details of the policyholder advocate’s submission to the High Court; a review of the hearing transcripts (recording the main arguments presented by Counsel to Aviva, the policyholder advocate and the Financial Services Authority); a review of the judgement by Mr Justice Norris; and subsequent developments.

Subsequent, developments include the review of the Aviva’s valuation of the reattribution estate by KPMG, Aviva’s statement about the completion of the reattribution, and communication with policyholders following the High Court approval of the reattribution.

The report also includes a number of attachments including policyholder advocate submissions and correspondence during the Court proceedings.

You may find the report by clicking on this link http://www.policyholderadvocate.org/final-review-report

The report may also be found under the tab ‘Report of the High Court proceedings’ in the main menu of the home page.

You may also wish to see a report from the Financial Times of an interview Clare gave last week – please follow this link http://www.ft.com/cms/s/0/b9ecd9ce-cb3c-11de-97e0-00144feabdc0.html

Yours faithfully

Jonathan Haslam

director of communications