British insurer Prudential said it is on track to meet its target to double profits in Asia by 2013.
Earnings in the region jumped 32 per cent to US$1.1 billion in 2011.
Its Asian life insurance business was the largest contributor to group operating profit last year.
Prudential said its focus on the fast-growing markets of Southeast Asia is paying off.
With Singapore leading the world in the number of millionaires per capita this year, Prudential is looking to capture more business from the wealthy.
Kevin Holmgren, CEO, Prudential Singapore, said: "Now some of the fast-growing segments here are the high net worth segments, because of the rising affluence in Asia and in Singapore. The bancassurance channel is the fastest growing channel, and I'd say the plus 40 or pre-retirement segment is a fast-growing segment due to the rapidly ageing population in Singapore.
