Life insurance: record turnover in unit-linked products, up 73%.
The figures below are unaudited and are expressed according to the EEV/IFRS standards.
Aviva France
- At €6.3bn, gross consolidated turnover increased by 19% (€5.3bn in 2004).
- Operating profit based on the EEV/IFRS° embedded value was €523m, up 13% (2004: €462m); according to IFRS standards, this figure stood at €451m, a rise of 26% (2004: €358m).
° Life insurance figures based on the EEV (European Embedded Value); other figures according to IFRS standards.
Life insurance: record turnover in unit-linked products, up 73%
- New life, savings and pensions business* grew by 26% to €5,155m (2004: €4,081m). These figures include the first complete year in partnership with Crédit du Nord, representing €1,063m, or 20% of the total turnover.
- Aviva confirmed its strong position in the field of unit-linked products, by recording a 73% increase in sales, for a value of €2,078m which represented 42% of the “savings” turnover in 2005. The Group’s market share of unit-linked products is now up to 8.1% (2004: 7.5%). This growth has been achieved thanks to the systematic “good advice” approach implemented by Aviva, its partners and its network.
- Following a remarkable year in 2004, AFER’s healthy performance continued with a 5% increase in production, to €2,460m. The trend towards diversified products intensified: turnover from unit-linked funds was €536m, accounting for 22% of total AFER turnover.
- The mathematical reserves for the life branch were €55.4bn (€50.0bn at 31 December 2004), showing a rise of 11%. The reserves for capitalisation and dividends stood at €642m and €472m respectively (compared with €515m and €358m at the end of 2004).
* Based on the PVNBP (Present Value of New Business Premiums).
Asset management: sustained excellence
- Aviva Gestion d’Actifs has confirmed the sustained excellence of its financial management. The two Golden Laurels awarded by the leading French investment magazine, Investir, for the fourth consecutive year for its SICAV and FCP ranges over five years, bear witness to the consistent quality of its management.
Aviva Gestion d’Actifs managed €67.2bn at 31 December 2005 (against €60bn at 31 December 2004). At 31 December 2005, 94% of the funds managed were ranked in the first and second quartiles over five years.
Non-life insurance: a solid performance, with 6% growth in turnover
- Gross turnover from non-life business was €1.1bn (€1.05bn in 2004), growing 6%, which compares very favourably with the market average.
- The combined ratio was 101%.
- Business was driven by the dynamism of the agent network, which continued to expand, with 868 agents at the end of 2005.
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Press Contacts:
Sophie Le Blévec
Tel: +33 (0)1 7662 5786
E-mail: sophie_leblevec@aviva.fr
Laurent Gibert
Tel: +33 (0)1 7662 7300
E-mail: laurent_gibert@aviva.fr
Notes to editors:
- Aviva is one of Europe’s leading providers of life insurance and pensions with strong positions in other markets around the world. In terms of gross premiums, Aviva is the world’s sixth-largest insurance group
- Aviva operates in three main areas: life insurance and long-term savings, asset management and non-life insurance. Its annual premium income totals almost Ł35 billion and its managed assets stood at more than Ł317 billion on 31 December 2005
- The financial press releases for the first and third quarters only encompass new life, savings and pensions business
- Press releases are available on the www.aviva.com and www.aviva.fr websites.