Aviva reports drop in life insurance sales
Aviva had long term savings sales of £8.8 billion in the first three months of the year, down from £10.2 billion a year earlier.
The decrease came as Aviva walked away from less profitable business in the United States, and also reflected weaker sales in Italy, where tax concessions last year drove a one-off surge in new business.
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Hide AdAviva had warned last month that life sales would be down by between 10 and 15 per cent.
The weaker life insurance sales were counter-balanced by a better performance in general insurance, where net written premiums rose 14 per cent to £2.7 billion.