August 15, 2012

Prudential reports 33% jump in new sales in H1 2012

New sales at Prudential Assurance Company Singapore jumped 33% to $282m in the first half of 2012, buoyed by a strong performance from its banking partners, read UOB and robust demand from wealthy individuals.
This makes Prudential the top-selling life insurance company in Singapore with a 22.7% market share, its CEO Kevin Holmgren said yesterday.
Prudential Singapore's sparkling results weren't the only gem in the group. The Hong Kong and other South-east Asian units helped drive total operating profit of UK-based Prudential plc to £1.16 billion (S$3.15 billion), up 13% from a year earlier.
Prudential Singapore was the second foreign insurer here after AIA to post impressive sales, riding on the booming high net worth (HNW) segment.
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