Aviva plc Third Quarter 2006
Richard Harvey, group chief executive, commented:
"We've achieved strong growth in new business while sustaining the profitability of these sales. This result proves the competitive advantage we’re building through our worldwide business model and demonstrates Aviva's strengths of scale, balance and diversified product offerings.
"In the UK, our business is growing fast, our margin is stable and we are the market leader. We've sold more long-term savings new business in the nine months to September than in the whole of 2005. Meanwhile, Aviva International is increasing net new business profits at almost twice the rate of sales, which continue to grow strongly.
"Aviva is well-positioned to capture growth in the world's largest long-term savings markets where we expect demand for products to continue to rise as private saving increases."
- Strong worldwide performance: Total sales1 up 22%2 to £22,718 million
- Record UK performance: Total sales up 39% to £10,464 million, with a strong market outlook
- Robust international new business growth: Total sales up 11% to £12,254 million
- Excellent investment product sales, up 54% to £3,590 million
- Strong growth in bancassurance sales, up 25% to £5,756 million, representing a quarter of total sales
- New business profit growth of 16%, with group new business margin remaining strong at 3.5%
- AmerUs acquisition on track to complete by the end of 2006
- All references to sales in this announcement refer to the present value of new business premiums (PVNBP) unless otherwise stated. PVNBP is the present value of new regular premiums plus 100% of single premiums, calculated using assumptions consistent with those used to determine new business contribution.
- All growth rates quoted are at constant rates of exchange.
Enquiries:
| Analysts/Investors: | |
|---|---|
| Philip Scott, group executive director, Aviva | +44 (0)20 7662 2264 |
| Patrick Snowball, group executive director, Aviva | +44 (0)20 7662 7574 |
| Charles Barrows, investor relations director, Aviva | +44 (0)20 7662 8115 |
| Jessie Burrows, head of investor relations, Aviva | +44 (0)20 7662 2111 |
| Media: | |
| Hayley Stimpson, director of external affairs | +44 (0)20 7662 7544 |
| Sue Winston, head of group media relations | +44 (0)20 7662 8221 |
| Vanessa Booth, group media relations manager | +44 (0)20 7662 2482 |
| Rob Bailhache, Financial Dynamics | +44 (0)20 7269 7200 |