Modest growth in new business activity for Prudential Singapore

Singapore

BRITISH insurer Prudential's new business activity in Singapore measured on an European embedded value (EEV) and constant-exchange-rate basis, was modest in 2016.

The annual premium equivalent (APE), a measure of new-business activity, for its Singapore operations was up a touch by one per cent year-on-year to £351 million (S$603.2 million).

For the full year, present value of new-business premiums (PVNBP), a gauge of new-business sales, was 5 per cent higher at £2.63 billion.

Single-premium new sales came in 3 per cent higher at £523 million, while that of regular premium was marginally up by one per cent at £…