Aviva is the world’s seventh-largest insurance group† and the biggest in the UK. It is one of the leading providers of life and pensions products to Europe and has substantial businesses elsewhere around the world. Its main activities are long-term savings, fund management and general insurance. It has premium income and investment sales from continuing operations of £30 billion**, and around £240 billion of assets under management. The group has 56,000 employees serving 30 million customers worldwide.
Highlights of the year
£1,907 million, operating profit before tax*
operating profit before tax*
£14.4 billion, worldwide long-term savings new business sales**
worldwide long-term savings new business sales**
£24.15p, full year dividend
full year dividend
£11.2 billion, shareholders funds***
shareholders' funds***
Operational highlights
Strong performance in both long-term savings and general insurance businesses
Robust life results: good sales growth in continental Europe; signs of confidence returning to UK market; margins up to 26.1%
Significant growth from bancassurance: sales up 27%; now accounts for 25% of new life and pensions sales; average margins 39.7%
Excellent and sustainable general insurance results with new group combined operating ratio target of 100% for next three years
Strong capital position and well-prepared for new UK realistic solvency reporting regime
Geographical breakdown of worldwide business mix: Long-term savings: UK=33%, Continental Europe=34%, Rest of world=5%, General insurance: UK=17%, Continental Europe=6%, Rest of the world=5%.
*  From continuing operations, including life achieved operating profit, before amortisation of goodwill and exceptional items.
**  From continuing operations, including share of associates’ premiums.
***  On an achieved profit basis.
‡  With reference to net premium income from continuing operations.
#  Including health premium income.
†  Based on gross worldwide premiums.
  All growth rates in this document are quoted at constant rates of exchange.

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Title: Chairman's statement