LONDON (ShareCast) - Insurer Aviva reported a slightly better-than-expected 5% rise in first quarter sales as growth in the US, Asia and central and eastern Europe offset tougher conditions in the UK.
Life and pensions sales increased to £8.168bn in the three month to 31 March from £7.751bn last time. Analysts expected a 3% rise to £8bn.
Total long-term savings new business sales were 2% higher at £9.402bn compared with £9.183bn last time, while margins were maintained in line with 2007.
F&C Asset Management reported a drop in assets under management in the first-quarter due to significant challenges of volatile equity markets, illiquid credit conditions and a general deterioration in retail investor sentiment.
Assets under management fell to £101.8bn as at 31 March compared with £103.6bn in the previous quarter.
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