Lithuania: Aviva Lithuania turns a profit of 10.8 million litai

Over the first nine months of this year the Aviva Lithuania life insurance and pension fund company earned a profit of 10.8 million litai. That is an increase of 17.4 % on the profit returned in the same period last year, when the company’s profit was 9.2 million litai.

Over the first three quarters of this year the company signed on premiums worth 57 million litai, which means an increase this year to 16.6 % of the market share compared with 15.2 % last year over the same period, thereby strengthening the company’s ranking among the top three life insurance leaders in the Lithuanian market.

Over the first nine months of 2009, Aviva Lithuania paid out 6.2 million litai in payouts for insured life insurance events (150 % of the amount paid in the same period last year), which is the largest amount paid by any life insurance company in Lithuania, accounting for 28.7 % of all payouts.

During the same period the company reduced its operating expenses by 1.8 million litai while increasing investment earnings by 1.7 million litai.

Aviva Lithuania finance director Arūnas Rumskas, says: “We achieved a positive result by thoughtfully expanding our activities and diligently reducing operational expenditure. We carefully fulfil the commitments we make to our clients, which gives them a feeling of stability, safety and trust. This is particularly important in these difficult times.”

Aviva Lithuania has 192,000 life insurance and pension fund clients, who are served by about 500 professional finance consultants. The Aviva group operates in dozens of countries around the world and provides service to 50 million clients.

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For further information please contact:
Vaidotas Aleksiūnas
Head of Marketing and Public Relations
Telephone: (8 5) 269 0620
Mobile: 8 6822 2201
E-mail: vaidotas_aleksiunas@aviva.lt

Indrė Minderienė
Senior Communications Specialist
Telephone: (8 5) 269 0610
E-mail: indre_minderiene@aviva.lt