A substantial advance in Asia helped Prudential - Britain’s largest life and pensions group - post a record new business performance in the first quarter.
The group that is trying to take over American General Corp for around £28 billion sterling said its total insurance sales in the three months to March increased by 29 per cent to a record £5 billion despite disappointing results from Jackson National Life in the US and M&G in Britain.
Even though Asia insurance sales only reached £373 million in the reported quarter that represented a 285 per cent improvement on the first quarter of 2000.
British insurance operations saw sales increase 10 per cent to £226 million and Egg, Prudential’s online bank, saw credit card balances rise 36 per cent year-on-year to £1.3 billion.
AFP