Norwich Union International reports a 38% sales increase in first half of 2005

Article date: 11 August 2005

Norwich Union International, Aviva’sDublin based offshore business, reports new business of€204.7 million for the first half of 2005. That’s anincrease of 38% on the same period last year. Sales are splitalmost evenly between unit linked and with-profit business.

Paul Sherlin, marketing director, Norwich UnionInternational, said: "We’re especially pleased with our newbusiness figures as it means we’ve entered a third year ofincreasing business. This success signifies our strategy isworking.

"We plan to continue adding value wherever wecan, as this is where we can really make a competitive difference.We’ve already substantially improved our product offeringsthis year with the introduction of our new with-profit guaranteefunds and more recently with our property special offer on the CoreFunds Bond.

"With-Profits continues to prove popular withinternational investors and our Core Funds Bond sales are now wellahead of last year. We’d expect this trend to continue in thesecond half of the year on the back of our property specialoffer."

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For further information:
Norwich UnionInternational Mike Gogan 00 353 1 802 8415
Financial Dynamics Christine Wood 020 7269 7253

About the Norwich UK Property Fund SpecialOffer

  • While the special offer is in force, all new investments intothe Norwich UK Property Fund will benefit from a 0.25% reductionin management charge for the lifetime of the policy.
  • This offer is available from outset only, through newinvestment in the Norwich Union International Core Funds Bond andmay be altered or withdrawn at any time without notice.

Benefits of Norwich UK Property Fund

  • Access to a strong award-winning fund management team with awealth of experience and proven skills.
    • Property Fund Manager of the Year, Property Week Awards2004
    • Property Manager of the Year, UK Pensions Awards 2005
  • Access to the benefits of direct property investment withoutthe obvious hurdles of day-to-day management.
  • Exposure to a range of commercial properties.
  • Risk is spread by investing in a range of geographical areaswithin the UK and a variety of sectors in commercial property,e.g. high street shops, offices and retail warehouses.

Notes to editors

  • Norwich Union is the UK's largest insurer. It is the UK'slargest provider of life, pensions and investment products and oneof the leading IFA providers.
  • Norwich Union’s news releases and a selection of imagesare available from Aviva's internet press centre at www.aviva.com/media

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