Structure and performance
Aviva is the world's fifth largest insurance group and the largest insurance services provider in the UK. We are one of the leading providers of life and pension products in Europe and are actively growing our long-term savings businesses in Asian markets, Australia and the USA. Our main activities are long-term savings, fund management and general insurance*.
We have premium income and investment sales of £41.5 billion and £364 billion of assets under management. We have 59,000 employees serving over 40 million customers.
Total sales
| £17,018m | |
|---|---|
| (2005: £15,581m) | |
| PVNBP** | £12,840m |
| Investment sales | £891m |
| Net written premiums | £3,287m |
| £17,018m |
Main operations
Geographic presence
France
Ireland
Italy
Netherlands
Poland
Spain
Lithuania
Turkey
Hungary
Czech Republic
Romania
Read more about our performance and future direction.
Strengths and highlights
- We have a balanced portfolio that benefits from diversification of distribution, products and geography
- We have achieved strong growth in sales and profits across our worldwide portfolio of businesses
- We have completed the purchase of AmerUs in the United States, giving us greater access to the world’s largest savings market
- We have commenced significant new bancassurance partnerships in Ireland (with Allied Irish Banks) and in India (with Centurion Bank of Punjab)
- Our European and International businesses have announced their confidence in achieving average annual sales growth†of at least 10% over the next five years, while growing profits‡at least as quickly
- We outlined plans to deliver £250 million of annualised cost savings by the end of 2007 across our UK businesses, at a one-off cost of £250 million
- The integration of RAC was completed on time and we met our 2006 cost saving targets.
IFRS profit before tax attributable to shareholders
| £2,977m | |
|---|---|
| (2005: £2,528m) |
EEV operating profit¹
| £3,245m | |
|---|---|
| (2005: £2,904m) |
Return on equity shareholders’ funds#
| 13.1% | |
|---|---|
| (2005: 15.0%) |
Worldwide sales~
| £41.5bn | |
|---|---|
| (2005: £35.9bn) |
Full year dividend
| 30.00p | |
|---|---|
| (2005: 27.27p) |
Equity shareholders’ funds»
| £17.5bn | |
|---|---|
| (2005: £14.9bn) |
- * Typically includes motor, household, creditor, health, commercial motor, commercial property and commercial liability insurance.
- ** Present value of new business premium (PVNBP) is equal to total single premium sales received in the year plus the discounted value of annual premiums expected to be received over the term of new contracts, and is expressed at the point of sale.
- † Our growth ambition is an annual average growth after minority interests and before acquisitions, from 2006 to 2010 inclusive, and assuming no major changes in economic conditions.
- ‡ New business contribution after required capital, tax and minority interest.
- From continuing operations, including long-term savings result on a European Embedded Value (EEV) basis before adjusting items.
- # Return based on opening equity shareholders’ funds on an EEV basis.
- ~ From continuing operations, including share of associates’ premiums.
- » On an EEV basis.