Europe – Central and Eastern Europe

Current position

In Turkey ranked first in pensions market with a market share of 23%, third in life with a market share of 9% and 13th in the general insurance market with 2.73% market share.
Our Life and Pension business in Turkey is a joint venture with AK Emeklilik and has only been operating since November 2007.
Ranked sixth in terms of life new business volumes in Hungary
Growth in DSF sales in Czech Republic
Initial contributions from mandatory pension sales in Romania were received in May 2008.
Sales growth in Russia since the business commenced in 2006, new bancassurance agreements signed in 2008

Total PVNBP (MCEV) sales increased 124% to £1,014m (2007: £453m) mainly due to £545m of mandatory pensions business from Romania

Direct sales force remains an important distribution channel for most business units
Establishing links with banks and brokers
Growing distribution through intermediaries
Eleven bank distribution agreements signed in Russia

The joint venture in Turkey has created the opportunity for Aviva to become a leading life and pensions provider in the market.
Grow direct sales force agent numbers and productivity
Continual development of distribution channels including bancassurance and brokers
Enhance the product range
Pensions reform offers long term potential across most of the region
Continue to investigate profitable opportunities in new markets