The first nine months of 2007 ended with extremely good results for Aviva Romania. In terms of underwritten gross premiums, an increase of 26.88% was recorded (59,126,898 RON in the first nine months of 2007, as against 46,602,257 RON in the same period last year).
The first nine months of 2007 ended with extremely good results for Aviva Romania. In terms of underwritten gross premiums, an increase of 26.88% was recorded (59,126,898 RON in the first nine months of 2007, as against 46,602,257 RON in the same period last year). A significant increase of 44.11% was also recorded in terms of assets, with the value of these reaching 180,936,661 RON on 30 September 2007 (compared with the value recorded on the same date last year, 125,558,097 RON).
Since May, Aviva has been providing Romanians with voluntary pensions, and from July it has been authorised as an administrator of mandatory private pensions. September 2007 also saw the start of the campaign to collect applications for mandatory private pensions (pillar II), which will last for four months. Aviva is aiming to occupy a position on the podium at the end of the competition, on 17 January 2008.
Shah Rouf, CEO Aviva Romania, made the following comments about the results recorded by Aviva Romania in the first nine months of the year: "The first nine months of 2007 have been extraordinarily dynamic for Aviva Romania. Work has gone on non-stop to build appropriate operational support for the launch of the pensions company, and to allow us to attain our objectives in the life insurance sector. An increase of nearly 30% in underwritten gross premiums and nearly 45% in assets are results which speak for themselves, attesting to the resilience of the business and its transition to a new phase of development."
In terms of Aviva's investment programmes, these have shown notable developments in the first nine months of 2007. Standing out amongst these are the USD programmes - Suprem (12.0% growth in the first nine months of this year), Imobilis (11.83% growth in the first nine months of this year), Median (9.0% growth in the first nine months of this year), Conservator (7.4% growth in the first nine months of this year).
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For further information:
Giliola Ignat - Marketing Manager / Advertising & PR; telephone: Telephone: 203 83 73
E-mail: giliola.ignat@aviva.ro
Note for editors:
About the Aviva group
Aviva is the oldest insurance group in the world and the largest in Great Britain, dating back to 1696. Today, Aviva has 59,000 employees and 40 million customers in 27 countries across the world.
Aviva is the market leader for pensions and life insurance in Europe. Aviva has revenue from insurance premiums and investments totalling €61 billion and administers over €535 billion worth of funds.
Aviva Romania
Aviva Romania includes three companies: Aviva Life Insurance, Aviva Administration Company for a Private Pension Fund, Certinvest (purchased on 13 September 2007).
About Aviva Life Insurance and Aviva Administration Company for a Private Pensions Fund
Aviva began operating as a provider of life insurance in Romania in 2000 (Aviva Life Insurance SA) and currently insures over 430,000 Romanians.
On 26 July 2007, Aviva received approval from the Oversight Committee for the System of Private Pensions to set up a company to administer private pensions (Aviva Administration Company for a Private Pension Fund SA), and on 25 August received authorisation to administer its mandatory pension fund - Pensia Viva.
About Certinvest
Certinvest currently administers €24 million in four mutual funds, each of them based around a different type of investment: Intercapital - a shares fund, Capital Plus - a balanced fund, Orizont - a fixed-income (bonds) fund and Tezaur, a capital market fund. Certinvest also administers individual investment accounts for high-earning customers.
Certinvest has shown throughout the years that it is one of the most dynamic and innovative administrators in the market. The company launched the first commission-free sales fund on the Romanian market (Tezaur) and the first bonds fund in Romania (Orizont). Certinvest is also proud to support the bull market for investment funds in Romania.
About Pensia Viva
The investment policy of the Pensia Viva fund, administered by the Aviva Company consists of a mixture of prudent and balanced investments.
By means of the investment policy, the Pensia Viva privately administered pension fund sets the following limits on the structure of assets, depending on availability on the market of the assets in question, whilst not exceeding the maximum levels set in law.