Prudential reveals strong demand for insurance

22 April 2005
Prudential reveals strong demand for insurance

Prudential has revealed a strong increase in sales in the first quarter of 2005 as a result of strong demand for insurance in the UK.

Prudential saw an 11 per cent increase in sales in Q1 2005 across its businesses in Asia, the US and Britain.

The UK performed particularly well, seeing sales rise 12 per cent to £208 million, ahead of Prudential's prediction of ten per cent for the country.

"All of our businesses are in good shape and are clearly continuing to deliver on the momentum we saw in the fourth quarter," Philip Broadley, Prudential's finance director, told the Guardian.

Sales at Prudential's US arm rose by nine per cent to £128 million, whilst Asia boosted its sales by 13 per cent to £142 million, in line with expectations.

Britain's second-biggest insurer sacked its chief executive, Jonathan Bloomer, last month, and will be headed by Mark Tucker from the beginning of May.

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