Newspaper article The Journal (Newcastle, England)

Aviva Scents the Return of Confidence to the Market

Newspaper article The Journal (Newcastle, England)

Aviva Scents the Return of Confidence to the Market

Article excerpt

Byline: By Graeme Evans

Norwich Union owner Aviva reported worldwide sales similar to a year earlier yesterday as confidence begins to return to the UK savings market.

Life and pensions sales in the nine months to September 30 stood at pounds 1.74bn, fractionally lower than the 2002 performance.

Within this figure, UK sales were 16pc lower at pounds 802m, although chief executive Richard Harvey said there were clear signs of an improving picture.

He added: "We have begun to see confidence slowly returning to the market and we expect this to continue through the last quarter of 2003 and into 2004.

"Although UK investors remain cautious, we are seeing indications that a degree of investor confidence is slowly building again in the unit-linked market and with-profit bond sales have stabilised over the last two quarters."

During the period, Aviva said its Norwich Union brand had regained its position as UK market leader with a market share of around 12pc. …

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