Aviva made a pre-tax profit of 48 million euros in Spain. Total turnover amounted to 2,385 million euros, an increase of 16.4% over 2001.
The group’s business in Spain rose to 2,385 million euros, 16.4 % more than in 2001
Aviva made a pre-tax profit of 48 million euros in Spain. Total turnover amounted to 2,385 million euros, an increase of 16.4% over 2001.
Premiums paid (1,917 million euros) increased by 20.4% in comparison with 2001, while pension contributions (468 million euros) increased by 2.6%.
New life insurance business and contributions to pension plans grew by 39% in 2002.
Total managed funds (own funds, technical provisions and pension funds) amounted to 6,728 million euros, an increase of 27.4% over 2001.
Gerardo Aróstegui, executive chairman of Aviva in Spain, said: “We have successfully implemented the group’s strategy. This has been reflected in significant growth, bearing in mind the market situation.
“Our business model is based on growth and efficiency. We are in 4th place in the life insurance market and in 2nd place in banking/insurance, and our importance within the group, in which we already account for 15% of the value generated, is growing.”
These results confirm Aviva’s strategy to become one of the leaders in life insurance and pensions in Spain, through banking/insurance (strategic alliances with some of the main Spanish savings banks–Bancaja, Caixa Galicia, Unicaja, Caja Espańa and Caja General de Granada) and professional mediators (Aviva Life and Pensions).
Notes to editors
- Aviva is the leading assurance group in Europe in the life and pensions market
- In Spain Aviva is one of the leaders in the life and pensions insurance sector, and markets its product through professional mediators (Aviva Life and Pensions) and through strategic alliances (50% alliances manager by Aviva) with some of the main Spanish savings banks (Bancaja, Caixa Galicia, Unicaja, Caja Espańa and Caja General de Granada)