Aviva Lithuania profits grew almost one quarter in 2009, from 12.3 million litai in 2008 to 15.3 million litai in 2009.
Aviva Lithuania profits grew almost one quarter in 2009, from 12.3 million litai in 2008 to 15.3 million litai in 2009.
Aviva began its activities in Lithuania in 2001. During its first few years of activity, shareholders invested 44 million litai in the company. It has been trading profitably since 2006.
The company’s general manager, Asta Ungulaitienė, says: “2009 was a historical year for our company, since the general financial result for Lithuanian operations over time became positive, ie we fully covered the initial investment of the shareholders in the company.
"Although operating conditions were very complex last year, we maintained the scope of our business, our client base grew by 9,000 and client property entrusted to us for insurance grew by up to 40% and by the end of the year it reached 571 million litai. We reduced our operating expenses by 2.2 million litai in reaction to the challenges of the times. This helped us finish the year with excellent financial results.”
The life insurance and pension fund company Aviva Lithuania earned 65.6 million litai for clients in 2009 (16.5 million litai for life insurance clients and 49.1 million litai for pension fund clients) by investing its funds, which is twice as much as was lost due to complicated financial markets in 2008.
Aviva Lithuania payouts for life insurance for insured events increased 21% from 6.2 million litai in 2008 to 7.5 million litai in 2009.
“This shows that our work last year was both effective and significant,” states the company’s general manager, Asta Ungulaitienė.
Aviva Lithuania life insurance and pension fund services are used by 197,000 clients. The company accounts for 17.4% of the market in terms of signed life insurance contributions agreements and it controls 13.2% of Level II pension fund assets. This puts Aviva Lithuania among the three largest life insurance and pension fund companies in Lithuania.
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For further information, please contact:
Vaidotas Aleksiūnas
Communications Manager
Telephone: +37 (5) 269 0620
Mobile: +370 6822 2201
E-mail: vaidotas_aleksiunas@aviva.lt