Reduced customer demand for unit-linked policies was partially offset by an increase in new business in euros, euro-based products being particularly attractive in the current market climate.
- New life, saving and pension business down 12% to €4,849 million on 31 December 2008 (2007: €5,532 million), in line with market trends.
- Share of unit-linked products in total sales: 27% on 31 December 2008 (2007: 44%) compared to a market figure of 16%.
Reduced customer demand for unit-linked policies was partially offset by an increase in new business in euros, euro-based products being particularly attractive in the current market climate.
-ends-
For more information:
Isabelle Noir
Telephone: 01 7662 7021
E-mail: isabelle_noir@aviva.fr
Laurent Gibert
Telephone: 01 7662 7300
E-mail: laurent_gibert@aviva.fr
Notes to editors:
About Aviva
Aviva is Europe's leading provider of life assurance and pensions savings with strong positions on other markets around the world. Based on gross premiums at 31 December 2007, Aviva was the world's fifth-largest insurance group. Aviva's three principal businesses are life assurance and long-term savings, asset management and non-life insurance, with a total turnover of €56.7 billion in 2007 and €455 billion in assets under management at 30 June 2008.
With more than 180 years' experience in France, Aviva is one of the top 10 players in the insurance market. Aviva France stands out from the crowd with its solid, balanced and profitable multi-distribution model: 875 general agents, 1,800 branch staff, 400 life advisers and 1,000+ brokers. Aviva France also has major partners such as AFER, the largest savings association in France, the Crédit du Nord group, l'Union Financière de France and Médéric. 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 4,700 staff in France. At 31 December 2007, Aviva France recorded consolidated sales of €6.5 billion and an IFRS net profit of €338 million and managed assets worth €71.4 billion at 30 June 2008.
* These results are reported on the basis of PVNBP (Present Value of New Business Premiums): updated and annualized value of new business according to MCEV principles (Market Consistent Embedded Value) as defined by the CFO Forum.