Aviva PLC Announces 3Q 2014 IMS
(firmenpresse) - LONDON, UNITED KINGDOM -- (Marketwired) -- 10/30/14 -- Aviva plc (LSE: AV) (NYSE: AV)
"Aviva's turnaround is delivering. Our key metrics have improved again. Year to date, our net asset value is 10% higher; value of new business is up 15%(1) and the general insurance combined ratio improved to 95.9%.
"The steps we have taken to focus and strengthen the Group mean we are in a different position to two years ago.
"Notwithstanding this progress, there is still more to do before we can be satisfied we are fully delivering on our investment thesis of cash flow plus growth."
Progress in cash remittances expected at FY14
Operating capital generation £ 1.3 billion (9M13: £ 1.3 billion)
Value of new business grew 15%(1) to £ 690 million(3) (9M13: £ 619 million(2,3))
Balanced product mix with VNB split 36% protection, 35% savings and 20% annuities
Increase driven by strong performance in Europe (40%(1)) and Asia (47%(1))
UK life returned to growth in the 3rd quarter, with VNB up 18%. 9M14 VNB 9% lower
Momentum on expense efficiency has continued
Combined operating ratio (COR) of 95.9% (9M13: 96.9%)
UK COR improved by 1.4 percentage points to 94.1% (9M13: 95.5%)
Canada COR of 96.8% (9M13: 95.2%) impacted by worse weather and fire losses
IFRS net asset value increased 10% year to date to 298p (FY13: 270p)
Economic capital(4) surplus £ 7.9 billion (FY13: £ 8.3 billion)
(1) On a constant currency basis.
(2) Comparative has been restated to reflect changes in MCEV liquidity premium valuation and an extension of the MCEV covered business. See the basis of preparation in note 1 to the statistical supplement for details.
(3) Excludes Eurovita, Aseval, CxG and Malaysia.
(4) The economic capital surplus represents an estimated position. The economic capital requirement is based on Aviva's own internal assessment and capital management policies. The term 'economic capital' does not imply capital as required by regulators or other third parties.
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Datum: 30.10.2014 - 07:00 Uhr
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News-ID 348157
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