Aviva, the leading group in Europe in insurance and pensions, has chosen Valencia - one of its key markets in Spain - to celebrate its tenth anniversary in the distribution of insurance through the major Spanish financial entities, including Banco de Valencia.
- The insurer Aviva analyses with Banco de Valencia the good results of their joint venture, Aseval
- The companies are celebrating in Valencia their tenth anniversary in insurance banking. The astronaut Pedro Duque held a conference as part of the commemorative actions.
Aviva, the leading group in Europe in insurance and pensions, has chosen Valencia - one of its key markets in Spain - to celebrate its tenth anniversary in the distribution of insurance through the major Spanish financial entities, including Banco de Valencia.
In May 2000, Aviva acquired 50% of the business of Aseval, a company partly owned by Banco de Valencia. Ever since then, and as the fruit of that strategic alliance, Aseval has been constantly growing. Its client base and managed resources increased to 116.18% and 156.25% respectively; also, its pension funds capital exceeds €2,055 million, with an increase of 146.61%.
In 2010, Aseval achieved 110 commercialised pension plans, both for individuals and employees; it exceeded 439,000 participants and achieved managed resources of more than €5,219 million.
In Banco de Valencia, an entity chaired by José Luis Olivas, they show their satisfaction by celebrating this tenth anniversary; because all this time, the Banco has wanted to instil among its clients the importance of planning long-term savings by offering them a broad range of pension plans. In Banco de Valencia, we want to stand by the client, helping him to plan his savings and the requirements of his retirement.
José Fuentes, director general of Aseval, has very positively evaluated the alliance of his partners: “The incorporation of Aviva in our banking insurance business has been an unquestionably correct decision. Not only can we now considerably thrust the development of our business, but we are managing to provide the clients of Banco de Valencia, over the whole of the national territory, with the most advance products, and the support and experience of the major life insurance and pensions company in Europe.”
Aviva: 10 years in banking insurance
Aviva has chosen Valencia to commemorate its 10th anniversary in banking insurance; it is the pioneer of this business area in Spain and has established itself as a notable distribution channel for the insurer, thanks to the agreements it reached with six of the major savings banks in Spain.
With a business model that has set a trend in banking insurance, Aviva has created holding companies at 50% with each of its partners specialised in the commercialisation of its life insurance and pensions. These companies cover the whole of the national territory with 4,100 branch offices. Over these 10 years, the banking insurance sales of Aviva in Spain have been constantly growing. In 2010, a business volume of €2,385 million was generated, as well as €13,971 million in managed funds.
Ignacio Izquierdo, managing director of Aviva España, has highlighted that: “Both the Community of Valencia and our banking insurance business in Spain are key areas, not only for the Spanish subsidiary of Aviva, but also for our Group all over the world.”
Izquierdo commented that: “We are particularly pleased to celebrate this anniversary together with Banco de Valencia, because it was just here and with them that we started our banking insurance activity in Spain, just over ten years ago; this is an area that has been constantly growing, and still has high development potential.”
Conference of Pedro Duque in Valencia
Among the commemorative actions, Pedro Duque has held a conference in Valencia in which he spoke of his experiences as an astronaut.
Duque commented that: “There are similarities between space travel and retirement. To begin with, both of them appear to be unreachable, but they come; and the competition is enormous, particularly for anyone born in the baby boom. Also, in both cases the key for achieving our goals is to start to prepare constantly and as soon as possible.”
Banco de Valencia is the pioneer Bank of the community of Valencia, founded in the year 1900. It has just held its Shareholders’ Committee meeting, where all the points on the agenda were approved. At present it has more than 2,200 professionals in 436 offices. For further information, go to www.bancodevalencia.es.
-ends-
For further 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 major insurance groups in Europe in the life insurance and pensions market. Aviva is one of the leaders in the life insurance and pensions sector in Spain. It trades its products through professional brokers (Aviva Vida y Pensiones) and by means of strategic alliances with some of the major Spanish savings banks (Bancaja, Caixa Galicia, Unicaja, Caja España, CajaGranada and Cajamurcia).
Aseval has more than 20 years’ experience as an insurance entity and pension plans manager of Banco de Valencia. It was set up in 1987 as an insurance company and managing entity of pension plans and funds. It arose from the need to cover the insurance requirements of clients of the financial entities of the Bancaja Group. Aseval joined the Aviva Group in May 2000. Thanks to an offer of integral management and customised consultancy, the company stands among the major insurers of Spain and is one of the major business points in the Community of Valencia.