Comeback tale of two fellow UK insurers
Singapore operations of Prudential, Aviva stage recovery despite one losing agents and the other losing bank tie-up
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THEY say when one door closes, another opens. In the case of Prudential and Aviva, they might have had doors slammed in their faces last year, but things still panned out, well, not too shabbily considering the circumstances.
Let's start with Prudential, which has greater cause to pat itself on the back.
Its new business growth was modest with annual premium equivalent (APE) rising one per cent to £351 million (S$605 million) and present value of new business premiums (PVNBP) 5 per cent higher at £2.63 billion. This was the same story for its single-premium new sales income and annual-premium segment.
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