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Thursday, May 21, 2009

Prudential Records 17 Percent Rise In New Business Sales

Prudential Assurance Malaysia Bhd (PAMB), part of UK-based Prudential Plc, has posted a 17 percent growth in new business sales in first quarter 2009 compared to the same period last year.

The company's new business annual premium equivalent (APE), which consists of retail life insurance sales and takaful contributions, rose to RM122 million from RM105 million previously, it said in a statement today.

"These results once again demonstrate the strong fundamentals and excellent momentum of Prudential's business in Malaysia," said PAMB chairman Tony Wilkey, who is also chief executive, insurance, Prudential Corporation Asia.

He said the company's aggressive recruitment drive, together with systematic implementation of sales and marketing efforts to improve agency activity, continued to have a positive impact on its performance.

"We have successfully recruited over 500 new agents in the first quarter of the year, bringing the total of our agency force to 9,766," Wilkey said.

"APE sales per active agent also increased by 10 percent," he said, adding that the positive growth was also supported by strong consumer demand for protection and health products.


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