Tuesday, October 23, 2012

PruBSN total new business sales in H1 up 23pc to RM129m

KUALA LUMPUR: Prudential BSN Takaful Bhd's (PruBSN) total new business sales grew 23 per cent to RM129 million in the first half of this year, from RM105 million in the same period last year.

Source from (Business Times): http://www.btimes.com.my/Current_News/BTIMES/articles/22PRUBSN/Article/
Published: October 23, 2012

PruBSN chief executive officer Azim Mithani said the strong performance has enabled the company to maintain its lead position among the takaful operators in Malaysia.

"Our record annual contribution equivalent of RM129 million in the first half of this year has given us a greater market share of 28 per cent, an increase from the 27 per cent we recorded in 2011.

"Very clearly, this could not have happened without the hard work and dedication across the company, especially from our sales teams with the support of customer service and operations," he said in a statement issued yesterday.

PruBSN's assets under management rose 29 per cent to RM774.4 million in the period under review, from RM601 million recorded in the same period last year.

Since its inception six years ago, PruBSN has consistently recorded impressive growth, making it one of the country's most dynamic takaful players.

It has a combined total of close to 11,000 direct agents and Prudential Assurance Malaysia Bhd agents serving over 300,000 customers nationwide.

The company's partnership with local banking and financial institutions provides segmentised distribution reach for its syariah-compliant products and solutions to the public.

"We will remain focused on maintaining our strong performance in the second half of 2012 with a continued focus on professionalism, customer service and syariah-compliant product innovation," said Azim.

He said despite its market-leading position, the company is constantly seeking alternative distribution channels whilst expanding its geographical presence across the country.

In addition, PruBSN is also actively exploring technology and integrated advertising and brand promotion campaigns as new drivers of growth.

On the future of the local takaful market, Azim said: "It will take time for this industry to grow its market penetration, but as people become more aware of takaful, the demand for its products, as we see it, will increase. Bernama

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