Aviva USA, part of Aviva plc, the world's fifth largest insurance group, announced today that as of the first quarter of 2008 it has taken over the top spot as the leading seller of fixed indexed annuities in the US, according to AnnuitySpecs.com.
- First company ever to hold top spot for both fixed indexed annuities and fixed indexed life insurance.
Aviva USA, part of Aviva plc, the world's fifth largest insurance group, announced today that as of the first quarter of 2008 it has taken over the top spot as the leading seller of fixed indexed annuities in the US, according to AnnuitySpecs.com.
Aviva is also ranked number one in the sales of fixed indexed life insurance, a position it has held for seven consecutive years, making the company the national leader in both fixed indexed product markets. According to AnnuitySpecs.com, this is the first time that a company has been number one in both fixed indexed life and fixed indexed annuities.
"We are proud to be the first company to hold the number one spot in both fixed indexed annuities and fixed indexed life. This accomplishment demonstrates our commitment to quality product design and responsive customer service," said Thomas C Godlasky, CEO Aviva North America. "We currently remain on track to achieve our goal of doubling our sales within three years of the AmerUs acquisition in November 2006."
Aviva had fixed indexed annuity sales of US$1.2 billion during the first quarter of 2008, making it the top market share holder, with 21%. Its fixed indexed life insurance sales were US$27.4 million in the first quarter, making it the market leader with 22% market share.
"The combination of Aviva's outstanding products with our strong, experienced national network of producers has propelled us to be the indexed products leader," said Mark V Heitz, president of sales and distribution for Aviva USA. "Our distribution partners are the best in the industry and are focused on selling products that meet our customers' needs."
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Contacts:
Aviva USA
Steven Goldberg (steven.goldberg@finsbury.com)
Stephanie Linehan (stephanie.linehan@finsbury.com)
Finsbury Group
Telephone: 212 303 7600
Notes to editors:
Aviva USA
A significant factor in Aviva's rise to the number one position in fixed indexed annuities sales is the strength of the company's portfolio of products. AnnuitySpecs.com reported that for the first quarter of 2008, three of the top ten best-selling indexed annuities on the market are offered by Aviva, including Aviva's MultiChoice Income Plus, the number one best-seller.
About Aviva plc
Aviva is the leading provider of life and pension products in Europe (including the UK) with substantial positions in other markets around the world, making it the world's fifth largest insurance group based on gross worldwide premiums at 31 December 2006.
Aviva's principal business activities are long-term savings, fund management and general insurance, with worldwide total sales of $98.4 billion and assets under management of $724.6 billion as of 31 December 2007. (Worldwide total sales based on life and pensions PVNBP, total investment sales and general insurance and health net written premiums, including share of associates' premiums).
Aviva currently has 57,000 employees serving 45 million customers. Aviva plc is traded on the London Stock Exchange under the symbol AV.
About Aviva USA
In 2006, Aviva grew its existing US presence by acquiring AmerUs Group, a national leader in indexed annuities and indexed life insurance. Aviva USA had $40 billion in assets as of 31 December 2007. Aviva's US employees are committed to helping customers meet their long-term savings, insurance and retirement income needs.
About AnnuitySpecs.com
AnnuitySpecs.com publishes the Advantage Index Product Sales & Market Report.
The report's survey is conducted to determine fixed indexed life and fixed indexed annuity product sales for the industry. The first quarter 2008 Market Report is their 43rd edition, representing 99% of indexed annuity production, and 100% of indexed life production.