Overview
Aviva continued to deliver strong growth in the 12 months to 31 December 2007, with total long-term savings new business sales up 25% to £38,583 million (2006: £30,762 million), which on a pro forma basis (adjusting for the impact of the AmerUs acquisition), represents growth in total new business sales of 18%. This increase reflects 22% growth in life and pension sales to £31,600 million (2006: £25,852 million), and strong investment sales, up 41% to £6,983 million (2006: £4,910 million).
Aviva UK delivered record sales with total sales increasing by 6% to £14,406 million (2006: £13,601 million) supported by significant increases in bond, annuity and collective investment sales. Within the total, life and pension new business sales grew by 5% to £11,655 million (2006: £11,146 million).
Aviva Europe’s total long-term savings new business sales increased by 19% to £16,486 million (2006: £13,731 million) reflecting strong growth from many of our businesses across the region. This overall increase includes 15% growth in life and pension sales to £14,914 million (2006: £12,840 million), and impressive growth in investment sales of 74% to £1,572 million (2006: £891 million).
Our North America business delivered full year sales of £3,602 million (2006: £884 million) up 39%1 on a pro forma basis (pro forma 2006: £2,821 million). This is an excellent result and represents a record full year sales performance.
Aviva Asia Pacific continues to achieve a strong rate of growth in new business sales with total sales 60% higher at £4,089 million (2006: £2,546 million), driven primarily by strong Navigator sales across the region.
- Pro forma increases are based upon the combined sales for the former Aviva business based in Boston and the former AmerUs Group for the 2006 year and are stated on a local currency basis.