Aviva's written premiums in the Czech Republic increased to CZK 552m (£11.77m) in 2004, representing *44% growth compared with the previous year.
Aviva's written premiums in the Czech Republic increased to CZK 552m (£11.77m) in 2004, representing *44% growth compared with the previous year.
Considering the total growth of the Czech life insurance market (an estimated 7.5%), Aviva's performance represents the highest growth rate.
Last year was very successful for Aviva. Not only was it the fastest growing life insurer, but its assets grew by 55% to almost CZK 1,500m (£34.37m) and its strategic investment programme recorded the best unit linked returns in the country at 31.4%.
One of the key drivers behind Aviva’s success is the recent expansion of its distribution into bancassurance and brokers.
2004 saw the beginning of an exclusive distribution agreement with Zivnostenska banka, part of the Unicredito group and one of the most respected banks (albeit small) in the country.
Austin Kimm, general manager of Aviva Czech Republic, commenting on these positive results, said: "I am convinced that after many difficult years, 2004 will be seen as a turning point for Aviva Czech Republic.
"With new bancassurance deals and broker products on the way, there is no reason why we cannot continue to push ahead of the market and start to catch up some lost ground."
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* Growth figures are derived from local currency figures.
For further information please contact:
Michaela Jandová, AVIVA životní pojišťovna, as
Telephone: 221 416 111