Aviva today posted a 21% rise in nine-month life and pensions sales, boosted by growth in its US unit as well as strong sales in Ireland. Aviva owns Hibernian Life and Pensions here.
Aviva said its core life and pensions new business climbed to £22.94 billion. Including the impact of foreign exchange fluctuations, life and pensions sales rose just under 20%.
Aviva said profit contribution from that new business rose 24% to £818m, again just above average forecasts, with its profit margin coming in at 3.6% from 3.5% the same time last year.
Aviva, which makes over 60% of its sales outside its home market, said European life and pensions sales rose 14% to £10.44 billion, helped by Ireland, Spain and Italy, though margins dipped to 3.8% from 4%.
In the UK, where growth across the sector has slowed from a bumper 2006, Aviva posted roughly flat results, with core life and pensions sales coming in at £8.75 billion, just below £8.79 billion a year ago, though overall sales including investments rose 5%.
