Life insurance company Prudential Life Assurance (Prudential Indonesia) is optimistic that the growth of the companyâs total premium income will increase this year, after a sharp decline in 2013
ife insurance company Prudential Life Assurance (Prudential Indonesia) is optimistic that the growth of the company's total premium income will increase this year, after a sharp decline in 2013.
President director William Kuan said in Jakarta on Tuesday that Prudential Indonesia booked slower growth last year due to market volatility, which negatively affected its unit-linked products.
In 2013, Prudential's total premium income grew 16.4 percent to Rp 22.5 trillion (US$1.9 billion). Of the total, new premium income rose 5.8 percent to Rp 10.5 trillion, from Rp 9.9 trillion the previous year.
The growth that the company recorded in 2013 was significantly lower than its growth in the previous year, when it booked 30 percent growth in total premium income and 24 percent growth in new premium income.
Prudential Indonesia, which until the end of 2013 had Rp 38.8 trillion in assets and 2.2 million customers, is part of UK-based Prudential plc.
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