NU boosts Aviva profits by 12% - papers 2nd March

Changes to the UK pensions market in April and increased savings activity also helped boost sales last year. Aviva said operating profits on a European Embedded Value (EEV) basis rose 12% to £3.25bn last year, but analysts had been expecting profits of around £3.3bn and the shares fell 5% as a result. The company said it had seen continued profitable growth in long-term savings products, with sales up 21% to £30.7bn, while life and pension sales increased 17% to £25.9bn last year. 2006 was a record year for Norwich Union, which grew sales by 31% to £13.6bn with a 26% rise in profits...