Notes to Editors
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Aviva is the world's fifth largest insurance group, based on 31 December 2003 gross written premiums. It is one of the top-five life companies in Europe and is the UK's largest insurer.
Aviva's principal business activities are long-term savings, fund management and general insurance, with worldwide premium income and retail investment sales from continuing operations of around £30 billion for the year ended 31 December 2003 and assets under management of more than £240 billion at 31 December 2003.
The Aviva media centre includes images, company and product information and a news release archive.
All figures have been translated at average exchange rates applying for the period. The average rates employed in this announcement are 1 euro = £0.68 (31 December 2003: 1 euro = £0.69).
All growth rates are quoted in local currency.
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Definitions:
Annual premium equivalent (APE) is a UK industry standard for calculating life, pensions and investments new business levels. It is the total of new regular premiums and 10% of single premiums. Norwich Union Equity Release "NUER" new business sales
United Kingdom new business sales shown in this press release do not include new business sales through NUER. Sales relate to mortgage completions. Cumulative NUER new business sales in 2003 and 2004 on a quarterly basis are shown in the table below.
| Cumulative total single premium sales | ||||||||
| 2003 | 2004 | |||||||
|---|---|---|---|---|---|---|---|---|
| Q1 £m |
Q2 £m |
Q3 £m |
Q4 £m |
Q1 £m |
Q2 £m |
Q3 £m |
Q4 £m |
|
| NUER | 125 | 250 | 370 | 501 | 90 | 197 | 332 | 478 |
- Aviva France reclassification of new business sales
France new business sales shown in this press release in supplement 1 have been reclassified to show total sales analysed between euro and unit-linked savings contracts and protection business. Cumulative new business sales for the fourth quarter of 2003 and each quarter of 2004 are shown in the table below.
| Q4 2003 | Q1 2004 | Q2 2004 | Q3 2004 | Q4 2004 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Single £m |
Reg- ular £m |
Single £m |
Reg- ular £m |
Single £m |
Reg- ular £m |
Single £m |
Reg- ular £m |
Single £m |
Reg- ular £m |
|
| France | ||||||||||
| Euro savings | 1,565 | 13 | 458 | 3 | 837 | 6 | 1,214 | 8 | 1,745 | 15 |
| Unit-linked savings |
344 | 14 | 171 | 5 | 325 | 10 | 474 | 16 | 668 | 30 |
| Protection | 41 | 19 | 11 | 5 | 21 | 11 | 31 | 13 | 41 | 17 |
| 1,950 | 46 | 640 | 13 | 1,183 | 27 | 1,719 | 37 | 2,454 | 62 | |
- Cautionary statements:
This announcement may contain "forward-looking statements" with respect to certain of Aviva's plans and its current goals and expectations relating to its future financial condition, performance and results. By their nature, all forward looking statements involve risk and uncertainty because they relate to future events and circumstances which are beyond Aviva's control, including amongst other things, UK domestic and global economic business conditions, market-related risks such as fluctuations in interest rates and exchange rates, the policies and actions of regulatory authorities, the impact of competition, inflation, deflation, the timing impact and other uncertainties of future acquisitions or combinations within relevant industries, as well as the impact of tax and other legislation and other regulations in the jurisdictions in which Aviva and its affiliates operate. As a result, Aviva's actual future financial condition, performance and results may differ materially from the plans, goals and expectations set forth in Aviva's forward-looking statements.
Aviva undertakes no obligation to update the forward-looking statements contained in this announcement or any other forward-looking statements we may make.
Aviva plc is a company registered in England No. 2468686.
Registered office St Helen's 1 Undershaft London EC3P 3DQ
