The following results are based on the PVNBP, or “present value of new business premiums”, according to the EEV (European Embedded Value) principles applied by the CFO Forum.
The following results are based on the PVNBP, or “present value of new business premiums”, according to the EEV (European Embedded Value) principles applied by the CFO Forum.
- New life, savings and pensions business up 5% to €3,966 million (first nine months of 2005: €3,785m). These figures do not include contract conversions permitted by the Fourgous amendment.
- Confirmation of our position as a unit-linked product specialist, in line with Aviva’s strategic direction.
Unit-linked products accounted for 47% of sales during the first nine months of 2006 (compared with 42% during the equivalent period in 2005), reflecting vigorous sales in the Aviva networks. This figure represents:
- 31% of AFER sales, up 42% as a result of both the confidence of its members and the excellent performance of Aviva Gestion d’Actifs
- 62% of sales for all the other Aviva networks.
Revenue from unit-linked products has risen by 19% overall.
Aviva continues with the conversion of euro-denominated contracts into unit-linked contracts (Fourgous amendment), a process that was commenced in December 2005 within the framework of its “Good Advice” approach. Leading the market in the implementation of Fourgous transfers, particularly thanks to AFER, Aviva had completed more than 62,000 conversions by the end of September 2006, worth €5,028 million. 33% of this amount has been reinvested in unit-linked products, and there is real potential for progressive investment in these products.
- The increased proportion of unit-linked products has resulted in a 21% increase in the net new business contribution based on the EEV (European Embedded Value, after tax and cost of capital) to €76M for the first nine months of 2006.
- Managed assets stood at €72 billion on 30 September 2006. Aviva Gestion d’Actifs’ hard work has been rewarded yet again with the 1st Corbeille Long Term prize in the Mieux Vivre Votre Argent (Make Your Money Work for You) category. Among the other prizes won this year are the 5 Gold Trophies awarded by the French financial magazine Le Revenue in the first half of the year.
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Media Contacts:
Laurent Gibert
E-mail: laurent_gibert@aviva.fr
Telephone: +33 (0) 1 7662 7300
Notes to editors:
- Aviva is one of Europe’s leading providers of life insurance and pensions with strong positions in other markets around the world. In terms of gross premiums, Aviva is the world’s fifth-largest insurance group.
- Aviva operates in three main areas: life insurance and long-term savings, asset management and non-life insurance. Its annual premium income, according to the EEV principles, totals Ł36 billion and its managed assets stood at more than Ł322 billion on 31 December 2005.
- Press releases are available on the www.aviva.com and www.aviva.fr websites.