Norwich Union has announced strong growth in sales of bonds and collective investments. Sales of collective investments in the first half of 2006 were worth £1,083m. Sales in the same period of 2005 were worth £513m.
Norwich Union has announced strong growth in sales of bonds and collective investments. Sales of collective investments in the first half of 2006 were worth Ł1,083m. Sales in the same period of 2005 were worth Ł513m.
Norwich Union bond sales rose to hit Ł1,626m in the first half of 2006. Sales are 33% higher than the same period in 2005 (Ł1,226m). Unit-linked sales rose 34% to Ł1,216m, and the introduction of a unique Inflation Protected Guarantee has produced a 22% rise in with-profits sales.
Neil Davies, director of investment at Norwich Union, said: “These are outstanding sales figures and they show that Norwich Union’s investment strategy is working.
“Over the past two years the Norwich Union investments team has been working to develop and diversify our range of investments and make them more attractive to advisers and customers.
“We have a strong range of property, fixed-interest, and socially responsible investment funds managed by Morley Fund Management, and have launched multi-manager and UK equity funds managed by Aon, Schroders and JPMorgan Asset Management. The launch of these funds has built on Norwich Union’s traditional strengths in the fixed interest and property funds sectors.
“We have also increased the number of funds available through the Portfolio investment bond. Customers who invest in Portfolio have a choice of more than 100 funds from leading fund managers including Morley, Fidelity, Jupiter, Gartmore, New Star and Newton.”
In the past 18 months Norwich Union has:
- Launched the Norwich UK special Situations fund, managed by Schroders
- Launched the Norwich UK Growth and Value fund, managed by JPMorgan Asset Management
- Recruited James Dalby as head of fund propositions
- Added three fund of funds, managed by IMS, to its ISA range
- Recruited John Clougherty as director of collective investments sales
- Launched four manager of managers funds, managed by Aon Asset Management
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David Gwyer 01904 452828 Out of hours 07800 699508
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Notes to editors
- Norwich Union is the UK’s largest insurer. It is a leading provider of life, pensions and investment products and one of the largest Financial Adviser (FA) providers. FAs provide over 70% of the company's long-term savings business in the UK.
- Norwich Union is the UK’s largest general insurer with a market share of around 14%, with a focus on insurance for individuals and small businesses.
- Norwich Union’s news releases and a selection of images are available from Aviva's internet press centre at www.aviva.com/media