12% growth in new life, savings and pensions business, in terms of gross premiums written, to €4 billion at 30 September 2010 (31/03/2009: €3.6 billion), 50% higher than the market as a whole which grew by +8%.
- 12% growth in new life, savings and pensions business, in terms of gross premiums written, to €4 billion at 30 September 2010 (31/03/2009: €3.6 billion), 50% higher than the market as a whole which grew by +8%.
- New life, savings and pensions business, based on PVNBP1, up 13% to €4.5 billion at 30 September 2010 (30/09/2009: €4 billion), with 19% growth in AFER premium income to €2.4 billion at 31 September 2010 (31/09/09: €2 billion) largely linked to the success of the Euro products and improved performance, and 7% growth for both Antarius with our partner Crédit du Nord to €1.1 billion (31/09/09: €1 billion) and our distribution channels under the Aviva brand to €1 billion (31/09/09: €940 million).
"Despite a contraction of the market over the past few months, the growth of Aviva France's life business since the start of the year has continued to significantly outstrip that of the market as a whole in a financial environment that remains volatile. This vigour is down to excellent premium income recorded by AFER, as well as strong sales for Antarius with our partner Crédit du Nord and our distribution networks under the Aviva brand.
"At the start of November, we're already seeing the first beneficial effects of our 'You are the Big Picture' advertising campaign. Aviva France is firmly set on a path of profitable growth.
"We're going to continue down this route with Distribution 2015, speeding up our organic growth by facilitating transfers and enriching careers among our distribution networks, with the central pillar of our partnership with the general agents, whose new president, Nicolas Pennel, I welcome. This is the major human project that Aviva France has just launched with Distribution 2015. Our distribution methods and networks have many assets to enable them to become the centre of excellence of Aviva's multi-distribution approach in Europe.
"This driving force of modernisation has the potential to boost the performance levels of the entire company, with the support of the European construction that is underway. Beyond that, Aviva France hopes to help our clients with their social challenges. The delivery of the first pan-European study of the long-term issues related to retirement in Europe and the continued work on universal long-term care insurance are clear contributions to that", commented Jean-Pierre Menanteau, CEO of Aviva France.
1 These results are based on the PVNBP (present value of new business premiums) - the current value according to the EEV (European embedded value) principles applied by the CFO Forum.
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For more information please contact
Dominique Eluau (Aviva) +33 (0)1 7662 5786, Email: dominique_eluau@aviva.fr Valérie Dudoit (HDL Communication) +33 (0)1 5865 2016,
Email: vdudoit@hdlcom.com
About Aviva
Aviva is the world's sixth-largest insurance group*, with more than 53 million customers throughout Europe, North America and the Asia Pacific region. Aviva’s principal business activities are life insurance and long-term savings, fund management and general insurance. At 31 December 2009, Aviva had turnover of €51.3 billion, with €426 billion of assets under management.
Aviva is the largest insurer in the UK and one of the main providers of life insurance and pension products in Europe. The Aviva media centre at www.aviva.com/media contains images and all the press releases and product information for the Aviva Group. Videos are available at www.aviva.com/media/b-roll-library/. You can follow Aviva on Twitter at: www.twitter.com/avivaplc
With more than 180 years’ experience in France, Aviva is among the top ten players in the insurance market. Aviva France has a solid and profitable multi-distribution model based on a comprehensive range of products, mainly intended for individuals and SMEs. Some 900 general agents, 1,800 branch staff, 400 life insurance advisers, almost 900 wealth management advisers (Union Financière de France) and more than 1,000 active partner brokers are on hand to serve 3 million customers every day.
Aviva has developed unique expertise in building effective partnerships for the benefit of its customers, particularly with AFER, the largest savings association in France, and the Crédit du Nord, Société Générale and Ford groups. Specialising in unit-linked products, Aviva is recognised for the excellent performance of its long-term funds, the quality and innovation of its products, and solid commitment to customers through its Good Advice approach.
Aviva France is a socially responsible company and has developed projects that include reducing and neutralising its CO2 emissions, supporting more than 250 projects to help children and the elderly through the Aviva Foundation, and implementing an acclaimed diversity policy.
The Aviva Group directly employs more than 4,700 staff in France. As at 31 December 2009, Aviva France reported consolidated sales of €6.7 billion and an IFRS-based net profit of €390 million. The company had €77.4 billion of assets under management as at 31 December 2009.
*Based on gross worldwide premiums at 31 December 2008.