Prudential Hong Kong continues to be the top non-bank insurer in the first three quarters of 2009

08/12/2009

(Hong Kong, 8 December 2009) The Prudential Assurance Company Limited ("Prudential Hong Kong") delivered strong performance in the first three quarters of 2009 and continued to be the top non-bank life insurer, according to the latest industry data released by the Office of the Commissioner of Insurance (OCI).

Despite volatile market conditions in the first half of the year, Prudential Hong Kong delivered outstanding performance in the third quarter with a 20% quarter-on-quarter growth in new business Annual Premium Equivalent (APE). The company recorded 10.4% of APE market share in the first three quarters and ranked second overall in terms of APE market share, outperforming all agency-led competitors.

Mr. Derek Yung, Chief Executive Officer of Prudential Hong Kong, said, "Prudential Hong Kong constantly strives to outperform the market and the strong results in the first three quarters of 2009 reflect excellent performance from our highly talented team. We will continue to focus on serving our customers, as this will provide the foundation for us to be the company of choice for Hong Kong policyholders, consultants, and staff."

The parent company of Prudential Hong Kong, Prudential plc, delivered strong Group-wide new business in the third quarter with total retail sales of £699 million, up 10 per cent over the same period last year. This performance demonstrates the effectiveness of the Group's strategy in what remains a challenging and fragile economic environment and further illustrate Prudential's strong market position globally.

Special note to the editor:
Prudential Hong Kong's parent company, Prudential plc (英國保誠集團), was established in the United Kingdom in 1848 and is headquartered in London. With its affiliated companies in the UK, the US and Asia, it constitutes one of the world's leading financial services groups. 

Prudential plc is not affiliated or related in any manner with Prudential Financial, Inc. (保德信金融集團),a company whose principal place of business is in the United States.

You and your reporters are cordially reminded to clearly differentiate between the two companies in your news reporting. 

For enquiries, please contact:

Jenny Auw Yong

Marketing - Corporate Communications

The Prudential Assurance Company Limited

+852 2977 3722

+852 2977 1116

Kate Siu

Senior Officer - Corporate Communications

The Prudential Assurance Company Limited

+852 2977 8462

+852 2977 1209