Gross consolidated turnover, at €6.4 billion in 2006, rises 1% (€6.3 billion in 2005).
The figures below are unaudited and are expressed according to the EEV (European Embedded Value) / IFRS standards.
- Gross consolidated turnover, at €6.4 billion in 2006, rises 1% (€6.3 billion in 2005).
- Operating profit (before tax) based on the EEV / IFRS embedded valueš stands at €689 million, an increase of 32% (2005: €523 million). Under IFRS standards, this figure is €529 million, a 17% rise (2005: €451 million).
Life insurance: position as a specialist in unit-linked products confirmed
- New life, savings and pensions business˛ were up 1% to €5.222 billion (2005: €5.155 billion). Sales within the framework of the partnership with Crédit du Nord stood at €1.232 billion at 31 December 2006 (2005: €1.063 billion). Figures for Aviva France do not include Fourgous conversionsł.
- Aviva confirms is position as a specialist in unit-linked products, recording 10% growth in its sales of unit-linked products, for a total sum of €2.287 billion˛. In terms of volume, these sales account for 42% of savings premium income in 2006 (46% according to PVNBP), compared with a rate of 29% for the market as a whole. Thanks to AFER, Aviva has implemented roughly 30% of the Fourgous conversions in the market, with a unit-linked product rate of 33%.
- AFER recorded stable premium income in 2006, at €2.428 billion (2005: €2.460 billion). This activity was concentrated on Fourgous transfers, and more broadly, on unit-linked products in line its “Good Advice” approach and the start of progressive investment. Income from unit-linked funds was €708 million, up 32%, accounting for 29% of total AFER turnover.
- The mathematical reserves for the life branch comprise €60.2 billion (€55.4 billion at 31 December 2005), showing a rise of 9%. The surplus capitalisation and dividend reserves stand at €664 million and €596 million respectively (compared with €642 million and €472 million at the end of 2005).
Asset management: sustained performance excellence
- Aviva Gestion d’Actifs confirms the consistency and quality of its management in the long term. The fund manager was awarded 5 Gold Trophies by French financial magazine Le Revenue, two over 10 years and three over three years. The company was also the winner of three SICAV 2006 Grands Prix from Le Figaro and Journal des Finances, as well as the Corbeille Long Term prize in the Mieux Vivre Votre Argent (Make Your Money Work for You) category and a Lipper Award.
- Aviva Gestion d’Actifs managed €72.9 billion at 31 December 2006 (€67.2 billion at 31 December 2005), an increase of 8%.
Non-life insurance: profitable, controlled growth
- The gross turnover of the non-life branch stood at €1.13 billion (€1.11 billion in 2005), revealing growth of 2%.
- The combined ratio (COR) improved, falling to 99% in 2006 (2005: 101%).
- Business was driven by an attractive, growing network of general agents. Moreover, the growth of the life business was confirmed in the branches.
- The new health product, Santhia, was launched in 2006. The targeted launch of car credit extended the automobile range while the number of motor insurance customers rose slightly to 532,000.
Outlook for 2007
Aviva France plans to build on its solid foundations to pursue its profitable growth strategy. In addition, in 2007, Aviva will strengthen its brand’s presence in France. The company will remain on the lookout for growth opportunities, particularly through partnerships.
-ends-
š Life insurance figures based on the EEV (European Embedded Value); other figures under IFRS standards.
˛ Based on the PVNBP (Present Value of New Business Premiums).
ł Growth in the individual life insurance market in 2006 was 18%, bolstered by housing savings scheme transfers (impact estimated at 9%) and the recording as turnover of Fourgous transfers by some market players (impact estimated at 4%).
Press Contacts:
Estelle Joubert
Telephone: +33 (0)1 7662 5786
E-mail: estelle_joubert@aviva.fr
Laurent Gibert
Telephone: +33 (0)1 7662 7300
E-mail: laurent_gibert@aviva.fr