Aviva delivers second consecutive quarter of growth

Andrew Moss, Aviva’s group chief executive, commented:

“This is an encouraging start to the year. Europe and the UK are the primary engines for Aviva’s growth today, accounting for 85% of our long-term savings sales in the first quarter. Sales have recovered and we’ve seen strong performances across our portfolio of life, general insurance and asset management businesses, compared to the previous quarter. Our capital position remains strong and this second quarter of growth bodes well for the rest of the year, even though there is still a degree of economic uncertainty in a number of markets.

“I’m pleased that we have agreed a long-term funding plan for our main UK pension scheme in this quarter, which we expect will eliminate the deficit over time. When combined with our proposal to close the scheme to future accruals, this should provide a welcome degree of certainty on funding for all our stakeholders.”

 

Aviva plc Interim Management Statement 3 months to 31 March 2010

• Second consecutive quarter of growth: long-term savings sales up 16% to £10 billion (4Q09: £8.8 billion)
• Long term savings sales in Europe and UK up 16%, representing 85% of group sales
• Group margin in line with full year 2009
• IGD solvency surplus remains strong at £4.4 billion after deducting final dividend (FY: £4.5 billion)
• UK pension scheme: long term funding plan and 2010 contributions of £365 million agreed; proposed closure of scheme already announced
• MCEV net asset value per share of 505 pence, up 7% (FY09: 471 pence)

Information

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