The year 2008 ended with good results for Aviva Group Romania. Gross underwritten premiums increased by 28.47%, reaching a value of 107.959 million RON, and putting the company in fifth place in the top flight of life insurers.
The year 2008 ended with good results for Aviva Group Romania. Gross underwritten premiums increased by 28.47%, reaching a value of 107.959 million RON, and putting the company in fifth place in the top flight of life insurers. The recorded growth has given the company a market share of 6%, exceeding the market growth trend by nearly 4% points.
Aviva is the only insurance company in Romania to offer a guaranteed programme of investments, with investments in fixed-income instruments - Capital Garantat (Guaranteed Capital). In the last 12 months Capital Garantat recorded growth of 10.74%, representing competitive performance, if one also takes into account the guarantee offered (units purchased in this programme will not lose value). Thus, this programme combines growth with a guarantee.
“We are proud that Aviva Romania counts itself amongst those insurance companies which, in difficult economic conditions, have experienced growth in their market share. The recorded growth underlines the Aviva Group’s resilience on a worldwide scale, the quality of the services offered and the level of trust which our customers in Romania have in our products. We want to maintain this upward trend in 2009 too, and to continue the strategy which we adopted when we entered the market- that of contributing to educating the market and offering Romanians the products which they need to overcome the difficult times in life,” Shah Rouf, CEO of Aviva Group Romania, stated.
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The point of contact for further information:
Lavinia Pavel – Brand Communication Coordinator
Telephone: 0723 310 378
E-mail: lavinia.pavel@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 57,000 employees and 45 million customers in 27 countries across the world.
The group is the market leader for life insurance and pensions in Europe, leading on the majority of the markets in which it operates.
Aviva has revenue from insurance premiums* and investments totalling 49.2 billion euros and manages over 359 billion pounds’ worth of funds**, putting Aviva in fifth place in the top flight of international insurance companies.
Aviva Group Romania
Aviva Group Romania includes three companies: Aviva Life Insurance, Aviva Management Company for a Private Pension Fund, Aviva Investors Romania (purchased on 30 November 2007).
About Aviva Life Insurance and Aviva Management Company for a Private Pension Fund
Aviva began operating as a provider of life insurance in Romania in 2000. 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 Management Company for a Private Pension Fund SA), and on 25 August 2007 received authorisation to administer its mandatory pension fund – Pensia Viva.
About Aviva Investors Romania
Aviva Investors Romania currently administers 9 ***million euros in four open-ended investment funds, 2 closed-end funds and a significant number of managed portfolios. The open-ended investment funds managed by the company are each based around a different type of investment: Aviva Investors (AI) Intercapital (a shares fund), AI Capital Plus (a diversified fund), AI Orizont (a fixed-income – bonds – fund) and AI Tezaur (a monetary fund).
Aviva Investors Romania 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 (AI Tezaur) and the first bonds fund in Romania (AI Orizont). Aviva Investors Romania is also proud to support the growing investment funds market in Romania.
* according to data from 31 December 2007
** according to data recorded on 20 June 2007
*** according to data recorded on 31 January 2009