Prudential, Britain's second largest insurer, has reported a modest rise in first-quarter sales, but UK sales fall...
Prudential, Britain's second largest insurer, has reported a modest rise in first-quarter sales. Growth in Asia and the United States once again offset weaker numbers at home.
Group insurance sales for the quarter totaled £640m, up 1% on last year. The U.S. and Asian businesses reported growth of 21% and 33% respectively. Prudential's UK business has shown a 23% drop in sales.
Mark Tucker, group chief executive said: "I am delighted by the excellent start the group has made to the year, building on the strong momentum established in 2005 and 2006.
He added that: "We have continued to pursue our growth and value agenda and worldwide retail new business APE increased by 25% to £592m over the same quarter last year with strong performances in all regions. In our asset management businesses M&G had net fund inflows of £1.4bn, the second highest quarter on record, and in Asia we had a record start to the year with net inflows of £0.6bn ahead 18%.”
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
