- Bancaja and Banco de Valencia sell their life insurance products and pension plans through Aseval
- Since Aviva acquired a 50% share in Aseval in May 2000, it has doubled the number of customers and assets managed by the Valencian insurance company.
The Aviva insurance group, one of Europe's leading life insurance and pensions groups, has passed the milestone of two million customers in Spain during the ten years it has been operating in the country through strategic alliances with the main Spanish financial institutions such as Bancaja, Banco de Valencia, Caixa Galicia, Unicaja, Caja España, Cajamurcia and Caja Granada.
In 2000 Aviva acquired a 50% share in Aseval, the insurance company of Bancaja and Banco de Valencia. As a result of this alliance, Aseval has increased its client base and the assets it manages by more than 100% and its assets from pension funds now stand at over €1.3 billion, which represents an increase of almost 200%.
Ignacio Izquierdo, managing director of Aviva, is very satisfied with the progress of this collaboration: "The result of this agreement in terms of bancassurance is very positive. Through Aseval we have started our work in the Valencian Community in a business sector which has never stopped growing, which continues to have increased development potential and which continues to be a key pillar of our Group in Spain."
José Fuentes, director general of Aseval, rates this 10-year alliance very highly: "Our continued growth is due, on the one hand, to the level of confidence and understanding of our customers which we have achieved thanks to our presence in all of the branches of Bancaja and Banco de Valencia across the whole of Spain; and, on the other hand, to the fact that we can count on the experience, support and innovative capacity of a leader on the life and pensions market such as Aviva."
At the end of 2009, Aseval had 98 individual and company pension plans, with over 380,000 shareholders. The company also manages assets worth over €4.4 billion.
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For more information:
Rosa Mar Mayoral
Telephone: 629 571 746
E-mail: rmayoral@ulled.com
Laura Villuendas
Telephone: 912 971 817 – 696 576 921
E-mail: laura.villuendas@aviva.es
Notes to editors:
Aviva is one of the leading European insurance groups in the life and pensions market.
In Spain, Aviva is a key life insurance and pensions player. It markets its products through professional brokers (Aviva Vida y Pensiones) and strategic alliances with some of the main Spanish savings banks (Bancaja, Caixa Galicia, Unicaja, Caja España, Caja Granada and Cajamurcia).
Aseval has over 20 years' experience as the insurance and pension plan management body of Bancaja and Banco de Valencia.
It was set up in 1987 as an insurance company and management body for pension plans and funds. It was created to cover the insurance needs of the customers of the financial institutions of the Bancaja Group. Aseval joined the Aviva Group in May 2000. Thanks to its offer of integral management and personalised advice, the company is one of the leading insurance companies in Spain and one of the leading businesses in the Valencian Community.