PAMB REPORTS 13 PER CENT RISE
Source: Prudential Assurance Malaysia Berhad (PAMB) Press Release, 20 November 2013
Prudential Assurance Malaysia Berhad (PAMB) announced a 13 per cent rise in new business sales in the third quarter of 2013. The increase was driven by a strong business mix, innovative products and improved agency initiatives. PAMB’s new business sales, which consist of life insurance and takaful contributions, increased to RM267 million from RM237 million recorded in the same period last year. Takaful products distributed by PAMB are underwritten by Prudential BSN Takaful Berhad. PAMB launched a range of new innovative products this year, including PRUlink million, a protection-focused regular premium investment-linked plan that offers a minimum sum assured of RM500,000 with a no-lapse guarantee to protect the policyholder from market downturns. Significant enhancements were also made to PAMB’s PRUmy child plan since it debuted in the market three years ago. Statistics show that jaundice affects 75 per cent of newborns in Malaysia, out of which 20 per cent, will need to undergo phototherapy treatment. The improved plan also covers an infant’s admission to the Intensive Care Unit or High Dependency Unit for any complications occurring within a year from birth. PAMB’s parent company in the UK, Prudential plc, announced that the Asia region recorded its highest ever third quarter of APE sales2 at £513 million (MYR2,706.29 million), up 20 per cent from the same period last year. Prudential’s life insurance business in Asia remains a key driver of the group’s performance, with Indonesia, Hong Kong, Singapore and Malaysia the largest contributing markets in the region.
(£1.00 = MYR5.28)