Aviva Romania registered good results for the first nine months of 2006.
Aviva Romania registered good results for the first nine months of 2006.
Gross written premiums rose by 20.19% (RON 46,602,257 in 2006 cf RON 38,774,369 during the same period of 2005). There was a significant increase of 27% in asset values, rising to RON 125,558,097 at the first of June 2006 (comparing to RON 98,868,203 for the same time last year).
Aviva Romania currently has a total share capital of 90,380,370 RON (US$31 millions), and is the fifth largest life insurer on the Romanian market, measured by gross written premium.
Here are the comments of Adrian Allott, Deputy CEO, Aviva Romania in this respect: “Aviva Asigurări de Viaţă has performed well during the first nine months of 2006. As well as good increases in written premiums and total assets, we also moved up three places in the life insurance market rankings. This is strong evidence that we are succeeding in our mission to help Romanians plan a secure financial future. Over the remainder of 2006 we plan to build further on this success, in particular by participating in the first stage of pension reform.”
The investment programs administered by Aviva outperformed the market.
Median and Conservator had a good performance compared to last year’s performance; in US$ terms, there was an increase year to date up to 6.32% for Median and 6.01% for Conservator. A very good investment return was registered during the third quarter for Suprem and Actual in US$ terms - 6.77% increase year to date for Suprem and 7.41% for Actual.
In the third quarter Practic and Practic Max, two of the RON denominated investment programmes, had a very good overall performance; Practic performed well above inflation due to the increase registered in the inter-banking interest rate, and due to a significant decrease in inflation. Practic Max’s performance the first nine months of 2006 was 6.61%.
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