Pension reforms boost sales - UK Life Insurance News

17/08/2006 - Aviva see's an increase in its business to £15.6bn this quarter

New business for Aviva, the UK's largest insurer, from British savers helped drive record sales up to £6.9bn, a rise of 43%. Total sales in the six months to June reached £15.6bn a rise of 25%. The chief executive of Aviva, Richard Harvey, said that he attributed the return of a services culture in the UK market to pensions reforms, known as A-day, and to healthier stock market performance this year.

Much of the groups operating profit has come from acquisitions, the company bought motor services group RAC last year and they have only just recently completed the integration. Last month it agreed to buy US rival AmerUs for £1.6bn, this follows on from its failure to merge with UK competitor Prudential in March.