With its Spanish operations, Aviva has earned net profits, to June 2008, of €63 million. This is 10% higher than the result achieved for the same period last year.
- This quantity has now reached €63 million
- Aviva is third in the life insurance rankings (premiums issued) according to ICEA data, and has a 7.4 % market share
- It is first in the systematic individual savings plan ranking, with a market share of 43%
With its Spanish operations, Aviva has earned net profits, to June 2008, of €63 million. This is 10% higher than the result achieved for the same period last year. Funds under management are up by 3% compared with the previous year, increasing to €13.844 billion.
Aviva's turnover in Spain has reached €1.302 billion, of which €1.022 billion related to premiums and €232 million to pension plan contributions. According to ICEA data, these results place Aviva in third position in terms of issued life insurance premiums.
The Aviva group's excellent international results are also significant, with an increase of 11% in the sale of new business in life and pensions, and an increase of 7% in operating profit, to £1.233 billion.
David Angulo, CEO of Aviva Spain, points out: "This is significant, both in terms of the improved results obtained by Aviva in Spain in the first six months of the financial year, and that the quality of those results has declined. This is despite the complexity and current outlook of the economy, which is currently full of uncertainty and showing signs of deterioration.
"We continue to be a benchmark company in the market. Aviva has developed a pioneering strategy in Spain that its competitors are trying to duplicate by signing agreements with financial institutions.
"The Aviva group, through its Spanish operations, is demonstrating its leadership capacity in Bancaseguros, highlighting the growth of Unicorp Vida and the outstanding development of its new agreement with Caja Murcia."
The main figures for Aviva's Spanish operations in the first half year are, in billions of euros:
| Figures in billions of euros | June 07 | June 06 | diff. % |
| Premiums issued | 1.022 | 1.242 | -18% |
| Pension contributions | 280 | 232 | 21% |
| Total business | 1.302 | 1.474 | -12% |
| Managed funds | 13.844 | 13.432 | 3% |
| After-tax profits | 63 | 57 | 10% |
Aviva has made a pioneering move with the launch of the systematic individual savings plans. In the second quarter of this year, Aviva was still first in ICEA's ranking, obtaining a total market share of over 43%.
Aviva's Spanish operations continue to grow in importance within the Aviva group, and currently represent one of the five main units based on new business contributions and results.
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