Life insurance company posts profit despite claims

Fri, 29 Feb 2008

According to recent reports in the life insurance news, insurance giant Aviva beat all profit forecasts last year, despite having to pay out millions in flood claims. Strong growth in life insurance sales aided the company to weather the storm.

Aviva, who own Norwich Union, are the largest insurance brand in Britain. The company has also survived fallout from the sub-prime market in America and the credit crunch touching many other businesses.

The chief executive of Aviva, Andrew Moss, was reported as commenting that they would double earnings per share by 2012, helped in part by life insurance sales. The firm are projecting a strong future for the core life insurance businesses in the UK and Europe.
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