Aviva life insurance's total gross written premiums reached 504.5 million crowns during the third quarter of this year, representing a 27% growth compared with the same period last year.
- Economic results of Aviva životní pojišťovna, as for the third quarter of 2005
Aviva life insurance's total gross written premiums reached 504.5 million crowns during the third quarter of this year, representing a 27% growth compared with the same period last year. Aviva has thus maintained its dynamic growth for more than a year and ranks among the fasted growing life insurers on the market.
"The high rate of growth we are showing this year reflects not only the growing popularity of investment life insurance but also the growing interest of clients in our specialized services," comments Aviva marketing manager Michaela Jandová.
A further contributing factor in Aviva's good results was the group's good choice of strategic partners among brokering companies and in the field of banking insurance.
Aviva registered growth also in all other financial parameters. Assets of the insurance company achieved 1,845 million crowns, of which 1,754 million crowns is ascribed to financial placements. Technical reserves as of 30.9.2005 amounted to 1,396 million crowns. Aviva also made an interim profit of 9.2 million crowns, a substantially better result than forecast by the current business plan, which expected planned losses due to further development projects. One of these is a new investment life insurance product, developed for broker companies and being prepared for launch by Aviva in November this year.
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| Q3 2005 | Q3 2004 | Index | |
| Gross written premiums | 504.5 | 396.2 | 127.33% |
| of which: current premiums | 340.3 | 293.8 | 115.83% |
| lump-sum premiums | 164.2 | 102.4 | 160.35% |
| Economic results | 9.2 | -23 | |
| Assets | 1,845.60 | 1,253.00 | 147.29% |
| of which: Financial placements | 1,754.80 | 1,152.40 | 152.27% |
| Technical reserves | 1,396.30 | 892.8 | 156.40% |
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For more information contact:
Aviva životní pojišťovna, as
Michaela Jandová
Tel: 221 416 171
Notes for editors:
The origins of Aviva date back to the end of the 17th century, more than 300 years ago. Aviva plc is currently the fifth biggest insurance group in the world, one of the three foremost insurance companies in Europe and the biggest insurer in Great Britain. The company's core business is the provision of life and property insurance services and fund management. Assets managed by the company exceed £290 billion sterling. The company employs over 60,000 people worldwide and provides services to 30 million clients.
Aviva plc has been active in the Czech Republic since 1997 via its 100% owned subsidiary company Aviva životní pojišťovna, a.s. (until 2002 under the name of Commercial Union životní pojišťovna, a.s.). It is the first and only British life insurance company in the Czech Republic and specializes in investment life insurance products (Personal Life Plan, Talisman, Aviva benefit). The company's head office in Prague was the second branch of the Aviva Group to open in Central and Eastern Europe. Aviva regional offices are now to be found at 21 sites in all regions of the Czech Republic.
Aviva's top-selling product, the Personal Life Plan, won the Golden Crown awards Silver Crown 2004 and Golden Crown 2005 in the category of Most Popular Financial Product of the Year. In the same competition the children's insurance Talisman was awarded the Bronze Crown 2005 in the category Capital and Life Insurance.