Local life insurer Aviva has recorded a 31% lift in its 2005 pre-tax profit, up to $160 million from $122 million.

Gross new business sales for 2005 (both retail and wholesale), were up 22% at $6.8 billion compared with $5.5 billion in 2004.

This result included an increase in sales of the life insurance business by 120% to $127.3 million resulting from Aviva’s Protection First initiative and an increase in Navigator sales by 26% to in excess of $2 billion.

Aviva says recent Federal Government changes – specifically the abolition of the 12.5% superannuation surcharge and contributions splitting – will be beneficial to growth over the medium term.