Record sales for Aviva
Allan Griffiths
Big insurance and financial services house Aviva managed to end 2007 in good shape reporting record sales across its protection business and Navigator platform, with a 49 per cent increase in total sales to $5.2 billion from $3.5 billion in 2006.
The result drove total assets under management and administration in Australia beyond $27 billion as at December 31, 2007.
The company reported what it described as “rapid growth” in life insurance, with individual protection sales up 35 per cent, bringing total protection sales to $68.32 million, while its Navigator platform increased new business by 53 per cent to a record $4.8 billion.
Aviva said the rise in sales on the Navigator Platform had been boosted by $550 million arising from the better super changes prior to June 30, albeit that underlying sales rose by 35 per cent to $4.2 billion.
Commenting on the result, Aviva Australia chief executive Allan Griffiths attributed the growth to the company’s distribution strategy.
“Our strategy in 2008 continues to concentrate on relationships, service and product,” he said.
AUTHOR
Mike Taylor
Recommended for you
The month of April enjoyed four back-to-back weeks of growth in financial adviser numbers, with this past week seeing a net rise of five.
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With the election taking place on Saturday (3 May), Adviser Ratings examines how the two major parties could shape the advice industry in the future.
