New life, savings and pensions business totalled €1,366 million at 31 March 2008 (2007: €1,474 million), down 7%, against a market fall of 9%
- New life, savings and pensions business totalled €1,366 million at 31 March 2008 (2007: €1,474 million), down 7%, against a market fall of 9%1. This unfavourable trend is due to savers adopting a "wait-and-see" approach in view of the highly volatile financial markets.
- AFER: +5% at €728 million at 31 March 2008 (2007: €693 million).
- Antarius (joint-venture of Aviva and Crédit du Nord Group): -20% at €288 million at 31 March 2008 (2007: €361 million), against a fall of the bancassurance market of 19%.
- Aviva (excluding AFER and Antarius): -17% at €350 million at 31 March 2008 (2007: €420 million).
- A consistently high standard of management in the long term has resulted in Aviva Gestion d'Actifs receiving 60 awards in 10 years, most recently the 2008 "large networks" silver award from La Vie Financière.
- Aviva will pursue its strategy of profitable growth:
- Building on its solid foundations and the close relationships established with its partners and customers
- Continuing to strengthen brand presence
- Looking out for opportunities that will allow it to speed up its growth, taking advantage of the effectiveness of its production platforms and its partnership management experience.
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Press contacts:
Estelle Joubert 01 76 62 57 86, estelle_joubert@aviva.fr
Laurent Gibert 01 76 62 73 00, laurent_gibert@aviva.fr
These results are based on PVNBP (Present Value of New Business Premiums): according to the principles of EEV (European Embedded Value) applied by the CFO Forum.
1 These figures include the recording as turnover of Fourgous transfers by some market players. Aviva has not recorded Fourgous transfers in its new business.
About Aviva:
- Aviva is the leading provider of life and pensions to Europe with substantial positions in other markets around the world, making it the world's fifth largest insurance group based on gross worldwide premiums at 31 December 2006. Aviva's principal business activities are life insurance and long-term savings, fund management and general insurance, with total sales of €72.3 billion and funds under management of €499 billion at 31 December 2007.
- With more than 150 years' experience in France, Aviva is among the top 10 players in the insurance market. Aviva France is distinguished by a balanced multidistribution model which has proved itself: 875 general agents, 1,800 agency staff, 400 life advisers, more than 1,000 brokers, partners (Union Financière de France and Médéric). Aviva France's partners also include AFER, the leading association of savers in France, and the Crédit du Nord Group. Specialising in unit-linked products, Aviva is well-known for the performance of its long-term funds and its strong commitment to its customers through its Good advice approach. Aviva has more than 3,300 employees. As at 31 December 2007, Aviva France recorded a consolidated turnover of €6.5 billion, a consolidated operating profit after tax and minority interest of €338 million (based on intrinsic value - EEV/IFRS norms) and managed assets worth €74.2 billion.