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
Insignia Financial has returned to profit in FY25, after a $185 million loss in the previous year, while its advice division grew their revenue per adviser by 14 per cent.
With licensee switching on the rise, particularly for newer advisers, compliance expert Sean Graham has shared red flags to watch out for when making the jump between AFSLs.
Beyond their investment benefits, over a third of advisers say utilising managed accounts solutions has allowed them to take on more clients, according to Praemium.
Insignia Financial’s wrap platform has appointed Heidi Press, former HUB24 head of product management, to spearhead the design and delivery of the MLC Expand platform.
