Aviva 2001 Annual Report Download - page 7

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New business sales £13,479 million
Net written premiums*£18,431 million
Life achieved operating
profit before tax £1,674 million
Net written premiums –
continuing operations £8,433 million
Combined Operating Ratio (COR) 102%
Operating profit before tax –
continuing operations £945 million
Assets under management £209 billion
Investment sales £1,475 million
Operating profit before tax £29 million
– Outperformance in all major markets
– Number one provider in the UK with increased
market share of over 11% and around 75% of
this business from the IFA market
– New and extended bancassurance partnerships
in Spain, Italy and the UK increase new business
sales to £2.1 billion
– New ventures and developments in central and
eastern Europe and South East Asia
– Capitalised on pension reforms in Europe and
leading provider of stakeholder pensions in the UK,
capturing over 20% of the total market
– Strong growth in France and the Netherlands
– Enhanced wealth management offering through
norwichunion.com
– Building a business capable of sustaining
combined operating ratio of 102% through the
underwriting cycle
– Repositioned global business by withdrawing
from the US and other markets unlikely to produce
superior returns
– Focused on personal lines and small to medium
business cover, applying rigorous risk selection and
strong rating action across the portfolio
– Consolidated 19% market share and number
one position in the UK
– Acquisition of Fortis reinforced top-five ranking
in Australia
– Continued strengthening of Morley’s position in
the UK institutional fund management market
– 70% of Victoire Asset Management’s funds
ranked in top quartile for investment performance
in France
– Further success for award-winning Navigator fund
administration business in Australia, being adapted
for the Singaporean market
– Third-party mandates secured in the UK and the
Netherlands increased to £3.5 billion
– Hibernian now ranked among top five fund
managers in Ireland
Developments in 2001 Performance in 2001
05 CGNU plc
Life and pensions net w ritten premiums from continuing operations £million
16,000
20,000
12,000
8,000
4,000
01997 1998 1999 2000 2001
Funds under management £billion
175
200
250
150
125
100 1997 1998 1999 2000 2001
225
Operating profit before tax from continuing operations £million
1,000
800
400
600
0
200
1997 1998 1999 2000 2001
* Including share of associates’ premiums and health premiums of £841 million.