The rising fortunes of life insurance company Aviva

Thu, 26 Oct 2006

Aviva, one of the largest life insurance, health insurance and pensions groups in the world, seem to be going from strength to strength as a company .

The financial services powerhouse reported that its 9-month pension and life insurance new business sales soared by 18 per cent, following a sustained period of growth in the UK. Although the figure reported does not match up to an average estimate obtained from 12 separate analysts, Aviva is said to be delighted with the news. The company released a statement, concluding: "Aviva is well-positioned to capture growth in the world's largest long-term savings markets where we expect demand for products to continue to rise as private saving increases."

However, profits have slimmed in the life and pensions sector, due to increasing competition in the life insurance market, and higher numbers of car insurance claims. Total sales were up by 39 per cent, a figure that will certainly please the company.
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