For Immediate Publication
New business annual premium equivalent (APE) grew 8% compared to 2010
Kuala Lumpur, 27 April, 2012 – Prudential Assurance Malaysia Berhad (PAMB) surpassed the
RM1 billion mark for the second year in a row after closing RM1.107 billion in total new business
Annual Premium Equivalent (APE) sales which comprised both life insurance and Takaful
contributions for the financial year 2011, posting an 8% increase from its performance of RM1.021
billion in 2010.
Charlie Oropeza, the company’s Chief Executive Officer attributed the continued success to the
high productivity of its agency force, an expanding Bancassurance business, strong business mix,
continuous product innovation, and service and operational excellence.
He added that 91% of the business was contributed by its agency force, while Bancassurance
accounted for 9%. Currently PAMB has over 14,000 agents nationwide with Bumiputra agents
making up 39% of its total agency force. Last year, the insurer recruited more than 4,500 new
agents, its highest recruitment number in the last 5 years.
On the plans for 2012, Oropeza said, “This year marks the 88th anniversary of Prudential
Assurance Malaysia and we are very excited about it. We have come a long way since the day we
first started our operation in Malaysia in 1924. Today we are proud to be a leading household
name in the local insurance industry and we have our customers to thank for the incredible growth
that we have experienced over the last 88 years. There will be a lot of activities going on this year
in celebration of our momentous journey in Malaysia and in appreciation of the longstanding
support from our customers, employees and our agency force.”
In addition, Prudential will continue to focus on enhancing its agency and partnership distribution
channels and extending the geographic reach of its distribution team across the country besides
leveraging on new technologies and tools in its quest to provide world class experience to its
customers which to date exceeded 1 million nationwide.
Prudential Assurance Malaysia Berhad is the fourth largest life insurance business for Prudential in
Asia, accounting for 13% of total new business APE sales in Asia for 2011.
- Ends –
Prudential Assurance Malaysia Berhad (107655-U) Level 17 Menara Prudential, No. 10 Jalan Sultan Ismail, 50250 Kuala Lumpur, Malaysia
P.O. Box 10025, 50700 Kuala Lumpur. Tel (603) 2031 8228 Fax (603) 2032 3939
Customer Service Tel (603) 2116 0228 Email: [email protected]
Part of Prudential plc (United Kingdom)
Notes to Editor:
a. PAMB’s full year 2011 new business results announced in this news release comprise Life Insurance
sales and Takaful contributions generated for the same period.
b. Annual premium equivalent (APE) sales consist of regular premium sales plus one-tenth of single
premium insurance sales.
c. Takaful products distributed by PAMB are underwritten by Prudential BSN Takaful Berhad, a joint
venture between Prudential and Bank Simpanan Nasional.
d. Prudential plc is a company incorporated and with its principal place of business in England, and its
affiliated companies, constitute one of the world’s leading financial services groups. It is not affiliated in
any manner with Prudential Financial Inc, a company whose principal place of business is in the United
States of America.
About Prudential Assurance Malaysia Berhad
Prudential Assurance Malaysia Berhad (PAMB) was established in Malaysia in 1924. For the financial year
ended 2011, it achieved a record RM1.107 billion in new business annual premium equivalent (APE),
representing a 8% growth on 2010. This new business APE comprised Life Insurance sales and Takaful
contributions. Takaful products distributed by PAMB’s Wealth Planners and agents are underwritten by
Prudential BSN Takaful Berhad.
As an innovative leading insurer, PAMB serves the savings, protection and investment needs of Malaysians
by offering a full range of financial solutions through its 41 branches nationwide. With the backing of
approximately 1,300 employees and over 14,000 agents and Wealth Planners, it is committed to helping
people achieve their hopes and dreams for a brighter and financially secure future.
PAMB is part of Prudential plc of the United Kingdom. Established in London in 1848, Prudential plc is one of
the world's leading retail financial services groups. It provides insurance and financial services through its 4
main business units throughout the world. Prudential plc has been in existence for over 160 years, and has
more than 25 million customers worldwide and £351 billion in funds under management as at 31 Dec 2011.
With life and fund management operations in 13 Asia markets, Prudential is currently the region's leading
Europe-based life insurer in terms of market coverage and number of top-three market positions, and a
leading regional fund manager.
Prudential plc is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place
of business is in the United States of America.
This news release is issued by Perception Management Sdn Bhd on behalf of Prudential Assurance
Malaysia Berhad. For more information, please contact Mr. Kelvin Boey or
Ms. Tanzina Rahman on tel: 03-2166 0006 / 09, fax: 03-2166 0038, e-mail:
[email protected] / [email protected],
or mobile: 012-203 6081 (Kelvin) or 016-314 8305 (Tanzina)