Prudential’s new business profit increased by 37% to $2.14b, in the nine months to September. This growth continued into the third quarter . Excluding economic impacts, new business profit increased by 48%, with improved margins attributed to positive developments in channel and geographic mix.Other segmentsAPE sales through the agency channel increased by 81%, with new business profits up 62% compared to the previous year, despite interest rate movements.
APE sales to Chinese Mainland visitors were approximately 1.3 times higher than in 2019. Health and protection sales contributed significantly to new business profit, with growth in both the agency and bancassurance channels. New business margins improved in each quarter of 2023, excluding economic effects.
In Singapore, APE sales increased year-on-year in the third quarter, supported by a rebound in the bancassurance channel. Both ICICI Prudential Life and Africa delivered double-digit growth in APE sales and new business profits in the first nine months of 2023 compared to the previous year....there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.