Bumpy ride ahead for insurers Prudential and Aviva
MACRO and firm-specific factors point to a bumpy ride in the new financial year for Prudential Singapore and Aviva Singapore - the two British-based insurers here which last week reported their 2015 full-year results. The saving grace are industry-specific factors that hold opportunities for them to sharpen their business growth.
Prudential Singapore recorded a 7 per cent rise in new business profit as it kept its focus on growing regular premium agency-sourced protection sales in fiscal year 2015.
It managed to do so even as the total annual premium equivalent (APE) - a measure of new business sales - dropped 13.4 per cent to £309 million (S$607.8 million).
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Carnival’s Princess brand revises 2025 world cruise routes amid Red Sea tensions
Google to pay up to US$6 million to News Corp for new AI content, The Information reports
Restaurant Brands tops estimates as Burger King overhaul pays off
Yen falls after suspected intervention on Monday; eyes on Fed
US: Wall St opens lower on labour costs data
TikTok shop tops 500,000 US sellers after 2023 e-commerce launch