A.M. Best Awards A+ Rating to Aviva USA.Ratings Upgrade Expected to Accelerate Aviva's US Sales LONDON -- Aviva plc today welcomed the upgrade in the A.M. Best financial strength rating for its US business, which will act as an important catalyst for further growth in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . A.M. Best confirmed an increase in the rating of the US business, formerly AmerUs, which was acquired last year, to A+ ('Superior') from A ('Excellent') as part of its annual review of the group's business. The revised rating is in line with the rating of the group's major subsidiaries and confirms the status of the US operation as an integral part of the Aviva group. A.M. Best assigns Individuals to whom property is, will, or may be transferred by conveyance, will, Descent and Distribution, or statute; assignees. The term assigns is often found in deeds; for example, "heirs, administrators, and assigns to denote the assignable nature of an A+ rating to companies that have 'a superior ability to meet their ongoing obligations to policyholders.' In its press release announcing the rating, A.M. Best noted: "This acquisition has provided Aviva USA significant growth opportunities in the world's largest life and retirement savings market and has enhanced Aviva's geographical diversification Diversification A risk management technique that mixes a wide variety of investments within a portfolio. It is designed to minimize the impact of any one security on overall portfolio performance. Notes: Diversification is possibly the greatest way to reduce the risk. . Additionally, as a strategically important segment and increasingly significant contributor to the overall revenue and earnings of Aviva, Aviva USA's ratings recognize the benefits derived from the financial flexibility of its parent." Aviva USA is the market leader in the US for indexed life products and the second largest provider of indexed annuity annuity: see insurance. annuity Payment made at a fixed interval. A common example is the payment received by retirees from their pension plan. There are two main classes of annuities: annuities certain and contingent annuities. products. It operates on a national, multi-channel distribution platform with customers in all fifty states. A.M. Best's upgrade indicates that customers can be confident that their investments are backed by a company with a superior financial strength rating. It also gives the company the potential to access new distribution channels, including large commercial banks, investment banks The following is a list of investment banks Financial conglomerates Large financial-services conglomerates combine commercial banking and investment banking, and sometimes insurance. and brokerage houses, and the major US broker-dealers. Thomas (language) Thomas - A language compatible with the language Dylan(TM). Thomas is NOT Dylan(TM). The first public release of a translator to Scheme by Matt Birkholz, Jim Miller, and Ron Weiss, written at Digital Equipment Corporation's Cambridge Research Laboratory runs Godlasky, chief executive, Aviva North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , said: "We are very pleased with A.M. Best's action. The upgrade confirms the strength of our US business and recognises it as an integral part of the Aviva group. With the stronger rating in place, we should be able to accelerate the tremendous sales growth we've achieved during the past year, which was achieved, in part, from becoming part of the Aviva group. In addition, it will provide us with access to a broader distribution platform from which to sell not only our existing indexed life and annuity products but also new products that are currently under development." Notes to editors: * Aviva acquired AmerUs in 2006 and it has since been rebranded Aviva. * In the USA, Aviva delivered record sales across all business lines in the first six months of 2007. Total long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. savings increased by 51% to PS1,716m and new business profit increased by 60% to PS57m, both on a pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma basis. * Aviva is the leading provider of life and pensions to Europe with substantial positions in other markets around the world, making it the world's fifth largest insurance group based on gross worldwide premiums at 31 December 2006. * Aviva's principal business activities are long-term savings, fund management and general insurance, with worldwide total sales of PS41.5 billion and assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. of PS364 billion at 31 December 2006. * The Aviva media centre at www.aviva.com/media includes images, company and product information and a news release archive. |
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