Aviva USA ‘star performer’ in first half of 2007
Aviva USA reported record sales for the first six months of 2007 as it nears completion of its acquisition of Des Moines-based AmerUs Group Co. Long-term savings sales were up 51 percent (on a pro forma basis for the former Aviva business in Boston and former AmerUs) and new business contribution was up 60 percent.
Aviva expects cost savings of around $45 million once the integration of the two companies is complete and to increase sales by at least 20 percent a year.
Worldwide long-term savings sales for parent company Aviva plc were up 25 percent for the first six months, with a 7 percent increase in the United Kingdom, a 14 percent jump in Europe and 72 percent sales growth in the Asia Pacific region by entering new markets.
“Overall, Aviva has performed well in the first half of 2007,” said Andrew Moss, group chief executive. “Substantial weather-related losses in the U.K. have been countered by strong growth across our life and asset management businesses. The U.S. has continued to be our star performer.”