- Business stronger than the market average, recording 12% growth, with a marked increase in AFER sales over the summer (+18% over nine months, to €2.0 billion), and sustained high sales for Antarius, the joint venture between Aviva and Crédit du Nord (+16%, to €0.9 billion).
- New life, savings and pensions business, based on PVNBP1, up 7% to €4.0 billion at 30 September 2009 (30/09/08: €3.7 billion).
After remaining in line with the market during the first six months of the year, Life, Savings and Pensions premiums surged in the third quarter of 2009, up 12% compared with 30 September 2008.
This strong growth, above the market average, is largely thanks to the success of the euro products, especially AFER.
“Aviva France had an excellent third quarter. While all of our activities remained buoyant, we’re particularly pleased with the performances of AFER and Antarius, which clearly illustrate the effectiveness of our partnership and multi-distribution strategy. Q3 was also marked by the announcement of Aviva’s European programme, Quantum Leap, which highlights Aviva’s wish to strengthen its position in France through organic growth, partnerships and external growth. The programme also underlines Aviva’s European leadership position in partnerships with banking groups (46 agreements), at a time when new ideas are emerging about the optimum allocation of banking groups’ equity,” said Jean-Pierre Menanteau, CEO of Aviva France.
-ends-
1 These results are based on PVNBP (Present Value of New Business Premiums): the current value according to the EEV (European embedded value) principles applied by the CFO Forum.
Press contacts:
Estelle Joubert
Aviva
Telephone: +33 (0)1 7662 5786
E-mail: estelle_joubert@aviva.fr
Valérie Dudoit
HDL Communication
Telephone: +33 (0)1 5865 2016
E-mail: vdudoit@hdlcom.com
Notes to editors:
About Aviva
Aviva is the world’s fifth-largest insurance group*, with 50 million customers across Europe, North America and the Asia Pacific region. Aviva’s principal business activities are: life insurance and long-term savings, fund management and general insurance. At 31 December 2008, Aviva had total turnover of €64.3 billion, with €393 billion of assets under management. Aviva is the largest insurer in the UK and one of the leading providers of life insurance and pension products in Europe. A selection of images and all the press releases from the Aviva Group are available in the press area www.aviva.com/media. Videos can also be downloaded from the site www.thenewsmarket.com/aviva.
With more than 180 years’ experience in France, Aviva is among the top ten players in the insurance market. Aviva France operates a balanced multi-distribution model based on a comprehensive range of products, mainly intended for individuals and SMEs. Some 900 general agents, 1,800 branch staff, 400 life insurance advisers, almost 900 wealth management advisers (Union Financière de France) and more than 1,000 active partner brokers are at the service of 3 million clients every day. Aviva has developed unique expertise in building effective partnerships for the benefit of its clients, particularly with AFER, the largest savings association in France, and the Crédit du Nord, Société Générale and Ford groups.
Specialising in unit-linked products, Aviva is recognised for the excellent performance of its long-term funds, the quality and innovation of its products, and solid commitment to its customers through its Good Advice approach.
Aviva France is a socially responsible company and has developed initiatives that include reducing and neutralising its CO2 emissions, supporting more than 250 projects to help children and the elderly through the Aviva Foundation, and implementing an acclaimed diversity policy.
The Aviva Group directly employs more than 4,700 staff in France.
At 31 December 2008, Aviva France reported consolidated sales of €6.0 billion and an IFRS-based net profit of €130 million. The company had €69.6 billion of assets under management at 31 December 2008.
* Based on gross worldwide premiums at 31 December 2008.