Aviva life insurance's total gross premiums written reached 378.5 million crowns during the first half of the year, representing a 16% growth compared with the same period last year.
- Aviva životní pojišťovna, as 2006 first-half results
Aviva life insurance's total gross premiums written reached 378.5 million crowns during the first half of the year, representing a 16% growth compared with the same period last year. Aviva thus continues to maintain its growth trend of past years and is growing 15 times faster than the life insurance market as a whole in the Czech Republic (according to preliminary results collected by the Czech Association of Insurers, the life insurance sector grew by only 1.1% in the first half of 2006 against the comparable period from 2005).
"Although the current life insurance marketplace dynamics are not too high, Aviva is still recording high rates of year-on-year growth. And since life insurance as a proportion of total written premiums in the Czech Republic is far from achieving the level of western Europe, I still see a great potential in the local market. I believe people are beginning to be aware of the need to cover risks, and they will start seeing life insurance as an insurance product and not just another possibility of saving," comments Pavel Matoušek, general manager of Aviva životní pojišťovna, as.
Aviva registered growth also in all other financial parameters. Assets of the insurance company reached 2,226 million crowns, of which 2,146 million is ascribed to financial placements. Technical reserves as of 30.6.2006 amounted to 1,732 million crowns. A significant success was also recorded by the new investment life insurance product Aviva EasyLife, which became the company's top-selling product.
Aviva životní pojišťovna is a subsidiary of the British company Aviva plc, which is one of the six largest insurance groups in the world. The group's total operating profit in the first half of rose by 27% to £1.699 billion sterling.
Basic economic indicators
(in thousand CZK, continuous [sic] unaudited figures):
|
| 1st half 2006 | 1st half 2005 | Index |
| Gross written premiums | 378,471 | 325,170 | 116% |
| Operating profit | 7,708 | 6,492 | 119% |
| Total assets (net) | 2,226,018 | 1,674,932 | 133% |
| Of which: Financial placements | 2,146,202 | 1,595,452 | 135% |
| Total assets (net) | 2,226,018 | 1,674,932 | 133% |
| Total assets (net) | 1,732,383 | 1,235,964 | 140% |
-ends-
For more information contact:
Milan Starý
Marketing Manager
Aviva životní pojišťovna, as
Telephone: 221 416 111
http://www.aviva-pojistovna.cz/
Notes for Editors:
The origins of Aviva date back to the end of the 17th century, more than 300 years ago. Aviva plc is currently the fifth biggest insurance group in the world, one of the three foremost insurance companies in Europe and the biggest insurer in Great Britain. The company's core business is the provision of life and property insurance services and fund management. Assets managed by the company exceed £290 billion sterling. The company employs over 56,000 people worldwide and provides services to 30 million clients.
Aviva plc has been active in the Czech Republic since 1997 via its 100% owned subsidiary company Aviva životní pojišťovna, a.s. (until 2002 under the name of Commercial Union životní pojišťovna, a.s.). It is the first and only British life insurance company in the Czech Republic and specializes in investment life insurance products (Personal Life Plan, Talisman, Aviva benefit).
In 2004, Aviva became the most dynamically growing insurance company on the Czech market. The company's head office in Prague was the second branch of the Aviva group to open in Central and Eastern Europe. Aviva regional offices are now to be found at 21 sites in all regions of the Czech Republic.