With its Spanish operations, Aviva has achieved a pre-tax profit, to June 2007, of €85 million, 19% higher than the result recorded for the same period last year.
- This sum represents an increase of 19% compared with the same period the previous year
- Aviva is second in the life insurance rankings (premiums issued) according to ICEA data, with a 10% market share
- First in the systematic individual savings plan ranking, with a market share of 67.74%.
With its Spanish operations, Aviva has achieved a pre-tax profit, to June 2007, of €85 million, 19% higher than the result recorded for the same period last year. Funds under management are up 13% compared with the previous year, to €13.43 billion.
Aviva's turnover in Spain has reached €1.47 billion, of which €1.24 billion is from premiums and €232 million from pension contributions. According to ICEA data, these results place Aviva in second position in terms of life insurance premiums issued.
Gerardo Aróstegui, CEO of Aviva Spain, points out: "the first half year has been excellent in all respects, in both volume and generation of value. The position achieved with the systematic individual savings plan business is especially significant, as it is a new product that I think is set to grow considerably in Spain."
The main figures for Aviva's Spanish operations in the first half year are:
| Figures in millions of euros | June 07 | June 06 | % diff. |
| Premiums issued | 1,242 | 880 | 41% |
| Pension contributions | 232 | 218 | 6% |
| Total business | 1,474 | 1,098 | 34% |
| Funds managed | 13,432 | 11,909 | 13% |
| - Shareholders' equity | 509 | 432 | 18% |
| - Technical reserves | 8,388 | 7,661 | 9% |
| - Pension funds | 4,535 | 3,816 | 19% |
| - Pre-tax profits | 85 | 71 | 19% |
| - After-tax profits | 57 | 47 | 22% |
Aviva has made a pioneering move with the launch of the systematic individual savings plans. In the first quarter of the year, Aviva was top of the ranking prepared by the ICEA; this position was further strengthened in the second quarter when the group achieved a total market share of over 67%.
Aviva's Spanish operations continue to grow in importance within the Aviva group, and currently represent one of the five main units based on new business contributions and results.
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Notes to editors:
Aviva
Aviva is one of the leading European insurance groups in the life and pensions market.
In Spain, Aviva is a key player in the life insurance and pensions industry. It markets its products through professional brokers (Aviva Vida y Pensiones) and strategic alliances with some of the main Spanish savings banks (Bancaja, Caixa Galicia, Unicaja, Caja España, Caja Granada and Cajamurcia).