Norwich Union International, Aviva’s Dublin based offshore business, reports new business of €448.5m for 2005.
Norwich Union International, Aviva’s Dublin based offshore business, reports new business of €448.5m for 2005. This represents an increase of 29% on 2004 figures.
Clive Witter, managing director of Norwich Union International, said: "We’re very pleased with our new business figures, which have shown consistent year on year growth with an average compounded growth rate of 38%pa over the last three years. We owe a lot to our distributors for their support and to our staff for making this happen.
“In 2006 we plan to build on this growth with the introduction of further product innovations, including the recent launch of Premier Portfolio, an open architecture bond that offers access to thousands of funds from the world’s leading investment managers. We have also designed a new Inheritance Tax Planning solution - the Estate Protection Plan - that combines Premier Portfolio with a new trust, the Estate Protection Trust.
“Another recent innovation is the new inflation-protected guarantee for with-profit investments made in the With-Profit Bond and International Core Funds Bond.
“With these major initiatives, we are well positioned to exploit further the considerable potential of the offshore market place. These are exciting times for Norwich Union International.”
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Press office contacts:
David Gwyer 01904 452828 Out of hours 07800 699508
James Evans 01904 452791 Out of hours 07790 487105
Notes to editors:
- Norwich Union is one of the UK's biggest life insurers. It is a leading provider of life, pensions and investment products and one of the largest Financial Adviser (FA) providers. FAs provide over 70% of the company's long-term savings business in the UK.
- Norwich Union’s news releases and a selection of images are available from Aviva's internet press centre at www.aviva.com/media.