Worldwide long-term savings new business – twelve months to 31 December 2005
Notes to Editors
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Aviva is one of the leading providers of life and pensions to Europe with substantial positions in other markets around the world, making it the world’s sixth largest insurance group based on gross worldwide premiums and market capitalisation at 31 December 2004.
Aviva's principal business activities are long-term savings, fund management and general insurance, with worldwide total income of £40 billion and assets under management of £280 billion at 31 December 2004.
The Aviva media centre at www.aviva.com/media includes images, company and product information and a news release archive.
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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 (twelve months to 31 December 2004: 1 euro = £0.68).
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All growth rates are quoted in local currency.
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Definition:
Present value of new business premiums (PVNBP) is the present value of new regular premiums plus 100% of single premiums, calculated using assumptions consistent with those used to determine new business contribution.
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PVNBP for China was mis-stated in the final quarter of 2004 and should have been £7 million for the year, and was previously £33 million. This has now been restated and accordingly the comparatives for China, Rest of the World and the Group have been restated for this difference of £26 million.
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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
