Norwich Union’s cashflow (net new business) in the employer superannuation market increased by more than 200% in 2002, according to the DEXX&R Employer Superannuation Market Share Report.
Norwich Union’s cashflow (net new business) in the employer superannuation market increased by more than 200% in 2002, according to the DEXX&R Employer Superannuation Market Share Report.
This takes Norwich Union’s cashflow market position to eighth – up from 21st place in 2001.
DEXX&R analysis has also shown a 125% increase in assets, taking Norwich Union from position 30 to 22.
According to Norwich Union Australia’s CEO Elect Allan Griffiths, the result for 2002 was very positive, given that many competitors actually experienced negative growth.
“Norwich Union has been constantly improving our employer superannuation products and these results from DEXX&R demonstrate that we are now an increasingly significant force in the important employer superannuation market.
“The team at Norwich Union has been challenged to improving this result in 2003. We have an excellent product which meets the market needs and we are committed to continually enhancing our offer for employers and members,” said Allan.
Allan Griffiths is available for interview.
For further information, please contact: Simon Morgan
Group General Manager Public Affairs
(03) 9829 8892
0407 966 632
Source: DEXX&R – Employer Superannuation Market Share Report 2002
Note to editors:
- Norwich Union Australia is a group of two specialist financial services companies; Navigator and Norwich Union Life. Portfolio Partners, the Australian funds management arm of Aviva plc, is a sister company to Norwich Union. Through these companies we provide products and services in the areas of wealth creation, wealth management and wealth protection for more than 300,000 customers throughout Australia.
- Globally, Norwich Union Australia is part of Aviva plc, the world’s seventh largest insurance group, the largest insurer in the UK and one of the top five life companies in Europe. Aviva was formed in May 2000 through the global merger of CGU plc and Norwich Union plc.
- Aviva is the worlds seventh-largest insurance group and the biggest in the UK. It is the leading provider 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 A$73.7 billion, and more than A$520 billion of assets under management (as at 1 April 2003). The group has more than 59,000 employees and 25 million customers worldwide.
- The information in this document reflects Norwich Union's understanding of existing legislation, proposed legislation, rulings etc as at the date of issue. While it is believed the information is accurate and reliable, this is not guaranteed in any way. The information is not, nor is it intended, to be comprehensive or a substitute for professional advice on specific circumstances.
The securities advice or information given in this document is of a general nature and has not taken into account the investment objectives, financial situation or particular needs of any particular person. Before making an investment decision on the basis of the advice above, a prospective investor needs to consider, with or without the assistance of a professional adviser whether the advice is appropriate in the light of their particular investment needs, objectives and financial circumstances.