Business

Aviva’s sales drop

Aviva’s sales drop

By Agence France Presse

LONDON: British insurance giant Aviva on Wednesday reported an 11 per cent drop in worldwide sales during the first nine months of the year but claimed the group’s profit outlook was “good.” Aviva, Britain’s second largest insurer after Prudential, said new life and pension sales fell to £24 billion compared to £27 billion in the first nine months of 2008. “The outlook for total profitability in 2009 is good despite a reduction in sales driven by continuing customer caution and active management of sales volumes to optimise profitability,” Aviva CEO Andrew Moss said.