International - Australia
Life and pension sales increased by 11% to £253 million (2004: £227 million) with strong performance from enhanced protection products launched in late 2004 and growth from single premium corporate pension transfers. Investment sales continued recent good performance increasing 81% to £176 million (2004: £94 million).
While not included in the new business figures, sales of Navigator, the master trust fund administration business, increased to £611 million (2004: £482 million) as a result of ongoing improvements in product offerings and customer service. During the quarter the business also launched a simplified version of the Navigator product, “Navigator Access”, which targets lower account balances, to broaden the distribution range of the product set.
Aviva has also agreed strategic investments and alliances with a number of distribution partners, to enhance future sales volumes. These include strategic stakes in Professional Investment Holdings and Financial Technology Securities and a product alliance with HBOS to utilise Aviva’s Navigator platform to administer HBOS’s clients’ investments.
