Aviva, the largest insurance group in the United Kingdom and the fifth largest in the world in terms of gross premiums, has recorded a net profit in Spain of €125 million, up by 5% on the profit obtained in 2006.
Aviva, the largest insurance group in the United Kingdom and the fifth largest in the world in terms of gross premiums, has recorded a net profit in Spain of €125 million, up by 5% on the profit obtained in 2006. Turnover has reached 2,943 million, of which 2,240 corresponds to premiums issued and 703 to pension contributions.
The total number of funds managed, 14,161 million, has risen by 10% compared with last year. And with regard to new business contribution within the Aviva group, Aviva in Spain contributed 2% more than last year (€276 million) and had a new business margin of 7.9%.
David Angulo, CEO of Aviva in Spain, believes: "that we have achieved excellent results in spite of the complicated circumstances which the economy and the Life sector have found themselves in during the last quarter of the year, multiplying the growth of the sector by eight. These results demonstrate the consistency of our business and Spain's important contribution for the Aviva group, something which will continue during 2008. I also have to highlight the incorporation of the new agreement with Caja Murcia, which reinforces the leading position of the Aviva group in Spain within the Bancassurance market."
Bancassurance
Aviva has made €2,644 million from bancassurance business in Spain (16% more than the previous year), of which 2,024 million corresponds to premiums issued and 620 million to pension plan contributions.
Amparo Ribera, corporate director of bancassurance and director general of Aseval, points out that: "The business results obtained over the past year have been very positive, and we can therefore say that this has been a good year, both in terms of volume and generation of value. I would highlight as a key point our leading position in the market through our "Individual Systematic Saving Plans (PIAS)."
Aviva Vida y Pensiones (Aviva Life and Pensions)
"The success of Aviva Vida y Pensiones has been excellent in very complex conditions, which has demonstrated the progress of our project and above all the development of our distribution capacity and of our focus on the customer," explains María Ángeles Garralda, director general of Aviva Vida y Pensiones.
Aviva Vida y Pensiones has achieved a turnover of €299 million (217 in premiums issued and 82 in pension plan contributions), which represents an increase of 6% compared with the previous year. The same increase was observed with regard to the funds managed which rose to €1,430 million.
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For more information:
Susana Fernández
Telephone: 915 640 496 - 609 071 271
E-mail: sfernandez@ulled.com
Laura Villuendas
Telephone: 912 971 817
E-mail: laura.villuendas@aviva.es
Notes to editors:
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 pension plan 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).