LONDON (Reuters) - Insurer Aviva
Aviva said on Wednesday sales fell to 24.06 billion pounds, compared with a consensus estimate of 24.8 million from analysts polled by the company.
But Britain's second-largest insurer said the outlook for its profitability remained good, with new business margins stable over the period at 2.1 percent, compared with 2.0 percent over the restated period a year ago.
Group long-term savings sales slid 11 percent to 27.1 billion pounds, compared with an average estimate of 27.2 billion.
"The outlook for the group's total profitability in 2009 is good despite a reduction in sales driven by continuing customer caution and active management of sales volumes to optimise profitability," Andrew Moss, Aviva's group chief executive, said.
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The insurer said its combined operating ratio was 98 percent in the third quarter, in line with its target of meeting or beating that level for the full year.
Aviva's insurance group directive surplus totalled 3.7 billion pounds, from 3.2 billion at the end of June, helped by an improvement in financial markets. It does not yet include the impact of the sale of Aviva's Australia business.
(Reporting by Clara Ferreira-Marques; Editing by Erica Billingham)
