Aviva increased its profits after H1 2018
After the first half of the year Aviva and BZ WBK-Aviva noticed the growth of companies’ operational profits by 9%.
The companies increased their premiums collected in the life insurance segment by PLN 36m. At the end of June 2018 the firms earned about PLN 1 bln. Thanks to this result Aviva still maintains a key role on the market. The value of new business amounted to PLN 123 mln, 10% less than last year. Aviva recorded low sales of unit-linked products. According to the insurer it was connected with the assets-tax. On the other hand, growth occurred in the credit insurance sector due to the renew credit offer by Bank Zachodni WBK, an Aviva bancassurance partner.
The insurer also informed about its preparation for retirement reform in Poland and launching the PPK program.
In the P&C sector Aviva earned more premiums due to growth in sales of insurance products for SMEs. In May the insurer launched a new offer of TPL insurance for enterprises (read more: Aviva Poland develops its corporate insurance sector). The company announced that it will focus on developing its property and tourist business.
The firm works on its digital solution especially to improve communication with clients, sales, claims settlement and client services. The insurer wants to develop its online service MojaAviva to manage insurance products by a client. So far 200k customers have used this device.
In the first half of 2018 Aviva and BZ WBK-Aviva paid out PLN 159 mln compensation on account of life insurance and PLN 108 mln due to other products.
“We are focusing on efficient services and certainty of payment compensation. This makes an impact on clients’ attitude to our brand and market. Our proclient business model was confirmed by the Financial Ombudsman. As a report prepared by the institution showed, Aviva recorded the lowest number of complaints made by clients”, Adam Uszpolewicz, the Aviva CEO, summed up.