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Norwich Union reports strong investment sales in first half of 2006

Norwich Union, the UK insurer and investments provider that is owned by Aviva, has revealed strong growth in sales of bonds and collective investments. Sales of collective investments in the first half of 2006 were worth GBP1.083 billion, against GBP513 million in the equivalent period last year.

Norwich Union bond sales rose to hit GBP1.63 billion in the first half of 2006. Sales are 33% higher than the same period in 2005, unit-linked sales rose 34% to GBP1.22 billion, and the introduction of a unique inflation protected guarantee has produced a 22% rise in with-profits sales, the firm said.

Neil Davies, director of investment at Norwich Union, said: These are outstanding sales figures and they show that Norwich Union’s investment strategy is working.

We have a strong range of property, fixed-interest, and socially responsible investment funds managed by Morley Fund Management, and have launched multi-manager and UK equity funds managed by Aon, Schroders and JPMorgan Asset Management. The launch of these funds has built on Norwich Union’s traditional strengths in the fixed interest and property funds sectors, he added.