Aviva UK life and pensions new business sales fell almost 25% in 2009 as the insurer was hit by the tough economic conditions, but bumper Q4 sales have given it confidence for 2010.
Total life and pension new sales were £8.9bn last year on a PVNBP basis, down from £11.8bn in 2008, a drop of 24.8%. Elsewhere, collective investment sales dropped 29.3% to just over £1bn. However, Aviva UK says Q4 life and pension sales advanced 17% and collective investment sales grew 96% over Q3 levels. Worldwide, the insurer reports total sales for the year of £36bn, down from £40bn in 2008. But £8bn Q4 sales were up 21% on the previous quarter. Andrew Moss, Aviva group chief executive, says: "In the fourth quarter we increased sales across all our regions and saw the first sig...
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