New life, savings and retirement business in terms of gross premiums issued, down 18%, to €3.3 billion on 30 September 2011 (30 September 2010: €4.0 billion) within a market falling by 12%.
- New life, savings and retirement business in terms of gross premiums issued, down 18%, to €3.3 billion on 30 September 2011 (30 September 2010: €4.0 billion) within a market falling by 12%.
- New life, savings and retirement business, based on PVNBP1, down 18% to €3.7 billion on 30 September 2011 (30 September 2010: €4.5 billion).
- This global downturn of production in gross issued premiums particularly features a decrease in collection of the AFER to €1.5 billion, which matches a very high and atypical performance in relation to the third quarter of 2010. This is well compensated by the very strong performance of Antarius (joint venture of Crédit Nord /Aviva) which experienced a remarkable growth of 18% to €1.1 billion.
Philippe Maso y Guell Rivet, director general of Aviva France, said: “Ever since 2010, we have been expecting new life business in 2011, particularly in terms of the exceptional level of the AFER collection last year. This had reached a higher history of +56% in the first quarter of 1010.
"The year 2011 features market uncertainties and the relative prudence of savers on funds in euros and units of account. Within this difficult environment I congratulate Antarius on its success over the first nine months of the year, which confirms the relevance of our distribution model.
"The damage activity has been going well in 2011, both from the point of view of production and that of the accident rate, after a year 2010 marked by climatic events. The consolidation of skills on the subject of rates is still our priority over the next few months."
-ends-
Press contacts:
Estelle Joubert
Telephone: +33 (0)1 76 62 57 86
Email: estelle_joubert@aviva.fr
Dominique Eluau
Telephone: +33 (0)1 76 62 67 19
Email: dominique_eluau@aviva.fr
Notes to editors:
About Aviva
Aviva is the sixth largest insurer in the world* with more than 44.5 million clients spread over Europe, North America and the Asia-Pacific zone. The major sectors of the Aviva group are life insurance and long-term savings, assets management and damage insurance, with a total turnover of €55.4 billion and €468 billion of assets under management on 31 December 2010. Aviva is the most important insurer in the United Kingdom and one of the major life and retirement savings insurers in Europe.
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With more than 185 years of experience in France, Aviva is positioned among the top 10 insurance market players. Aviva France offers a complete range of products to three million clients, individuals, and small and medium businesses.
The company is distinguished by a solid and profitable model of multi-distribution (875 general agents, 1800 agency collaborators, 1,000 brokers, 400 life consultants, and 800 consultants in UFF management). Aviva France also has partners such as the AFER, the largest savers’ association in France, the Crédit du Nord Group, and vehicle manufacturers. Aviva directly employs more than 4,700 collaborators.
On 31 December 2010, it recorded a consolidated turnover of €7 billion and a net profit in IFRS accounting base of €424 million. The company had €80 billion of assets under management on 31 December 2010.
For further information on Aviva France, consult www.aviva.fr/assurances/assureur-aviva/aviva-presse.
* on the basis of gross world premiums issued on 31 December 2010.
1 These results are communicated on the basis of PVNBP (Present Value of New Business Premiums): value updated on a yearly basis of new business according to the principles of the MCEV (Market Consistent Embedded Value) applied by the CFO Forum.