Aviva posts 5% sales rise in Q1

Aviva, the UK’s biggest insurer, has seen a first quarter rise in worldwide sales of 5%, however life and pension sales in the UK fell by 12% to £2.5bn.

The company says sales are “resilient” and that it had taken “action to improve margins in key markets”.

Globally, sales in the three months to March 31 reached £10.3bn, with life and pension sales rising 11% to £9.57bn. In North America sales rose 84% to £1.9bn.

The result follows news earlier this month that it would cut around 1,100 jobs.

Aviva reported that sales in 2008 rose across its product portfolio. Life and pensions sales rose 11% to £36.3bn in the 12 months to 31 December.

In June, it will rebrand its UK business from Norwich Union to Aviva. The company trades as Aviva in more than 20 markets across Europe, North America and Asia Pacific.

It has already launched a rebranding campaign featuring celebrities who have changed their names. Created by Abbott Mead Vickers.BBDO, the ads include appearances from Bruce Willis, Alice Cooper and Ringo Starr.