A 26% increase in new life, savings and pensions business in Q3 to €1,262 million (€1,005 million for the equivalent period in 2006) thanks to product innovations, the success of the Aviva advertising campaign and the dynamism of our partners, particularly AFER, the largest association of retirement savers in France, and Crédit du Nord.
- A 26% increase in new life, savings and pensions business in Q3 to €1,262 million (€1,005 million for the equivalent period in 2006) thanks to product innovations, the success of the Aviva advertising campaign and the dynamism of our partners, particularly AFER, the largest association of retirement savers in France, and Crédit du Nord. Exceptional premium income of €83 million was recorded for the quarter. Meanwhile, the margins have remained healthy.
- Stability of new life, savings and pensions business, at €3,973 million for the first nine months of the year (30/09/06: €3,966 million), despite a 4% drop in individual life insurance premiums in France at the end of September 2007(1) and some turbulence in the financial markets.
- Specialist in unit-linked products with a 45% share of cumulative sales at 30 September 2007 (30/06/07: 42% - 30/09/06: 47%).
- Consistency and quality management in the long term, with five trophies awarded by French financial magazine Le Revenu, including the 2007 Grand Prix for sustainable performance. Aviva Gestion d'Actifs had assets under management worth €74.6 billion at 30 September 2007 (30/09/06: €72.9 billion).
- Continuation of the profitable growth strategy:
- Building on Aviva's solid foundations and the close cooperation relationships established with its partners and customers.
- Continuing to strengthen the brand presence.
- Keeping a lookout for opportunities to speed up its growth, taking advantage of the effectiveness of its production platforms and partnership management experience.
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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
Notes to editors:
About Aviva
Aviva is Europe's leading provider of life insurance and retirement savings products with strong positions in other markets around the world, particularly in the US. Aviva operates in three main areas: life insurance and long-term savings, asset management and non-life insurance. At 31 December 2006, Aviva recorded turnover of €61.9 billion and had €543 billion of assets under management, making the company the world's fifth-largest insurance group in terms of gross premiums. With more than 150 years' experience in France, Aviva is one of the top 10 players in the insurance market. Aviva France sets itself apart with a sound and profitable balanced multi-distribution model: 875 general agents, 1,800 branch staff, 400 life insurance advisers, 1,000+ brokers, as well as several partners (Union Financière de France and Médéric). Aviva France also has important partnerships with AFER, the largest savings association in France, and the Crédit du Nord Group. Specialising in unit-linked products, Aviva is recognised for the excellent performance of its long-term funds and solid commitment to its customers through its Good Advice approach. Aviva employs more than 3,200 staff. At 31 December 2006, Aviva France recorded consolidated sales of €6.4 billion, a consolidated operating profit of €689 million (based on the embedded value - EEV/IFRS standards) and managed assets worth €72.9 billion.
* These results are based on the PVNBP (present value of new business premiums), the current value according to the EEV (European embedded value) principles applied by the CFO Forum.
(1) These figures include the recognition as turnover of Fourgous transfers by some market players. Aviva has not included Fourgous conversions in its new business figures.