Aviva increases capital by 5.4m euros

Life insurer Aviva boosted its share capital by 5.4 million euros (19.5 million RON) to 22.9 million euros (over 82.7 million RON) at the end of last year. “We have made this move to consolidate the business,” says Giliola Ignat, brand communications manager at Aviva. The company ended 2004 with losses worth 2.2 million euros (8.97 million RON) and is estimated to record losses for 2005, as well. In the first nine months of last year the insurer saw revenues worth 10.7 million euros (about 38.8 million RON), up 91% on the same period in 2004. The company has not yet revealed its financial results for last year. Aviva officials say they are soon to launch two new products, though didn”t provide too many details on the subject. In addition to its regular life insurance policies, Aviva also administers ten unit-linked investment programmes in RON, euros and dollars. ZF