Financial results up The figures below are expressed on an IFRS basis. Turnover net of reinsurance of 3,229.3 million euros up 26% (2004: 2,555.7 million euros). Operating profit# up 34% to 250.1 million euros (2004: 186.2 million euros). On an IFRS accounting basis, operating profit before tax of 220.1 million euros up 43% (2004: 154.3 million euros).
- Excellent performance of unit-linked sales
Financial results up
The figures below are expressed on an IFRS basis.
- Turnover net of reinsurance of 3,229.3 million euros up 26% (2004: 2,555.7 million euros).
- Operating profit# up 34% to 250.1 million euros (2004: 186.2 million euros). On an IFRS accounting basis, operating profit before tax of 220.1 million euros up 43% (2004: 154.3 million euros).
Life assurance: excellent performance of unit-linked sales, up 88%
- Life new business<> up 36% to 2,688.6 million euros (2004: 1,966.1 million euros).
This amount includes Antarius sales amounting to 596 million euros, reflecting the momentum generated by the partnership with Crédit du Nord. - Excellent performance of unit-linked sales, up 88%, supported by the momentum generated by sales throughout the Aviva networks: unit-linked products represent 40% of total new business (1st quarter 2004: 31%). Consequently, improvement in gross margin<> to 3.8% (2004: 3.4%).
- Life result based on intrinsic value (EEV#) up 38% to 229.1 million euros (2004: 165.9 million euros).
General insurance: COR** at 100%
- Turnover, net of reinsurance at 615.2 million euros (2004: 564.7 million euros), up 9%, supported by changes in rates, particularly for commercial lines and health.
- Combined ratio (COR) for general business at 100% (99.6 % excluding Health).
Fund management
- Assets under management as at 30 June 2005: 65 billion euros (60 billion as at 31/12/04)
The strong performance from Aviva Gestion d'Actifs has been rewarded once more: Aviva Gestion d’Actifs has been named as the best provider with a large range of funds over 1, 3 and 5 years by La Tribune /Standard and Poor's for the 2nd consecutive year.
* IFRS accounting standards
# EEV : European Embedded Value
<> based on PVNBP : Present Value of New Business Premiums
**COR : Combined Operating Ratio – Combined ratio
Press contacts:
Hervé Poreaux - tel: 01 76 62 85 92 - herve_poreaux@aviva.fr
Sophie Le Blévec - tel: 01 76 62 57 86 - sophie_leblevec@aviva.fr
Notes for editors:
- Aviva is one of the leading life and pensions insurers in Europe and occupies a strong position in other markets throughout the world. Aviva is the world’s 6th largest insurance group based on gross premiums.
- Aviva is involved in three main areas, life assurance and long-term savings, fund management and general insurance. Its annual premiums amount to almost Ł40 billion and its assets under management to more than Ł280 billion as at 31 December 2004.
- News releases are available on the sites of www.aviva.com and www.aviva.fr