(Hong Kong, 3 December 2008) The Prudential Assurance Company Limited ("Prudential") delivered strong year-on-year growth of 36%, in terms of weighted premium, in the first three quarters of 2008, almost trebling the average market growth of 13%.
Prudential was one of the fastest growing insurance companies in Hong Kong, despite increasing market volatility and a slowing global economy, according to the latest industry data released by the Office of the Commissioner of Insurance (OCI).
Mr. Jeff Walker, Chief Executive Officer of Prudential, said, "In light of the recent financial turmoil and its impact on Hong Kong's insurance market, Prudential is still able to deliver significant growth and maintain its market share. These results highlight the strength of Prudential's position in Hong Kong and underscore the internationally strong position of our parent company, Prudential plc, as announced in its Third Quarter Management Statement. Looking forward, Prudential will continue to help Hong Kong people lead more financially secure lives and will particularly focus on the medical and retirement opportunities in the Hong Kong market. Obviously, consumers in Hong Kong are seeking quality and security more than ever before and Prudential is well positioned for this flight to quality."
Prudential plc delivered 15% growth in the Group Insurance weighted premium and 21% growth (excluding Taiwan) in Asia in the 3rd quarter of this year, further illustrating the group's robust financial position and its resiliency against the turbulent economic conditions.
For enquiries, please contact:
Marketing - Corporate Communications
The Prudential Assurance Company Limited
+852 2977 8118
+852 2884 9476
Jenny Auw Yong
+852 2977 3722
+852 2884 9476
Prudential Corporation Asia
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