Aviva plc Third Quarter 2007
Andrew Moss, group chief executive, commented: “Aviva’s new business sales in the first nine months of 2007 are highly encouraging and have been achieved at consistently strong margins, in line with our value creation objectives.
“Under our ‘One Aviva, twice the value’ agenda we'll continue to improve the profitability of our businesses and accelerate the pace of our international development. We’re well positioned to deliver our new medium-term growth targets, not only in the fast growing economies of Asia and Central and Eastern Europe, but also in the more mature European markets, including the UK, and in North America.”
- Total worldwide sales1 increase 26%2 to £28,278 million
- Worldwide life and pensions sales up 21% to £22,935 million
- New business profit growth of 24% with new business margin remaining strong at 3.6%
- Aviva Europe delivers organically-generated total sales growth of 17% to £11,556 million
- Growth momentum continues in Aviva Asia Pacific with total sales up 66% to £3,068 million
- Aviva North America delivers outstanding performance with pro forma3 41% increase in total sales to £2,705 million
- Aviva UK increases total sales by 5% to £10,949 million
- Continued excellent growth in investment sales, up 49% to £5,343 million
- 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.
- Pro forma increases are based upon the combined sales for the former Aviva business based in Boston and the former AmerUs Group for the 2006 year to date third quarter and are stated on a constant exchange rate basis.
Enquiries:
| Analysts/Investors: | |
| Andrew Moss, group chief executive, Aviva | +44 (0)20 7662 2286 |
| Philip Scott, group finance director, Aviva | +44 (0)20 7662 2264 |
| Charles Barrows, investor relations director, Aviva | +44 (0)20 7662 8115 |
| Amanda Wilbraham, senior manager 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 Rhodes, group media relations manager | +44 (0)20 7662 2482 |
| James Murgatroyd/Ed Simpkins, Finsbury | +44 (0)20 7251 3801 |