Monday, 30 April 2012

Prudential Assurance surpasses RM1 billion mark for second year running

KUALA LUMPUR (April 30): Prudential Assurance Malaysia Berhad (PAMB) surpassed the RM1 billion mark for the second year in a row after closing RM1.107 billion in total new business Annual Premium Equivalent (APE) sales which comprised both life insurance and Takaful contributions for the financial year 2011, posting an 8% increase from its performance of RM1.021 billion in 2010.

In a statement Monday, its chief executive officer Charlie Oropeza, attributed the continued success to the high productivity of PAMB’s agency force, an expanding Bancassurance business, strong business mix, continuous product innovation, and service and operational excellence.

He said that 91% of the business was contributed by its agency force, while Bancassurance accounted for 9%.

Oropeza said that PAMB had over 14,000 agents nationwide with Bumiputra agents making up 39% of its total agency force.

Last year, the insurer recruited more than 4,500 new agents, its highest recruitment number in the last 5 years, he said.

Oropeza said PAMB was the fourth largest life insurance business for Prudential in Asia, accounting for 13% of total new business APE sales in Asia for 2011.

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