PAMB RE­PORTS 13 PER CENT RISE

Insurance - - COMPANY CORNER -

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)

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