For Aviva Romania the first half of 2006 ended with very good results.
For Aviva Romaniathe first half of 2006 ended with very good results.
In terms of gross written premiums, there was an increase of 32.99% (RON 29,849,170 in the first half of 2006, compared to RON 22,445,214 during the same period in 2005). With respect to assets, there was also a significant increase of 70,73%, to a total value of 118,624,334 RON at the end of June 2006 (compared to RON 69,482,404 – assets at the end of June 2005).
After the first half of 2006, Aviva Romania’s share capital stands at RON 80,344,470 (US$27.5m), and it occupies the sixth position in the Romanian market with a total of gross written premiums of RON 14.64m*.
Adrin Allott, deputy CEO, Aviva Asigurari de Viata, commented: “Aviva Asigurari de Viata has made a remarkable progress over the first six months of 2006. We moved up two places in the ranking of Romanian life insurers and had increases of over 30% in gross written premiums and more than 70% in assets; these results speak for themselves, proving the company’s strength. We have major plans for the reminder of the year: we already announced our intention to enter the private pensions market and at the same time we intend to consolidate our position in the life segment, with new product launches in the second half of the year.”
In the first half of 2006 (1 February), Aviva successfully launched two new investment programmes: Practic Max denominated in RON and Imobilis denominated in EUR.
Practic Max addresses to clients who prefer a more aggressive investment portfolio - up to 50% in shares quoted on the Bucharest Stock Exchange, while Imobilis addresses people who want a liquid real estate investment. Compared to the end of February, a sustained increase of assets under administration was registered for the two above mentioned investment programmes. Also, we have to mention the progress of the Practic Plus investment program – an investment program formed of 25% shares – with an increase in assets of 63.56% compared to the result registered at the end of 2005.
With respect to the investment programme performances, the returns of Conservator (+4.26% in US$), Actual (+3.62% in US$) and Median (+3.23% in US$) are notable given the strengthening of the dollar against euro during the period.
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* Results after the first quarter of 2006, published in the Primm magazine’ supplement, Insurance Profile, May 2006.
For further information, contact:
Anca Sert
Telephone: 021 203 84 73
Notes to editors:
About Aviva
Aviva is the world’s fifth-largest (based on gross worldwide premiums for the year ended 31 December 2005) insurance group and the largest insurance services provider in the UK. We are one of the leading providers of life and pension products in Europe and are actively growing our long-term savings businesses in Eastern European & Asian markets, Australia and the USA.
Our main activities are long-term savings, fund management and general insurance. We have premium income and investment sales of £35 billion (for the year ended 31 December 2005) and £332 billion (at 30 June 2006) of assets under management. We have 58,000 (total number of staff employed at 30 June 2006) employees serving 35 million customers worldwide.
Aviva officially launched in Romania under the name Commercial Union on the 11 October 2000 having seven branches all over the country. Now we have more than 1000 consultants and managers in the direct sales force activating in 19 branches and four development centres.