Asian Growth Helps UK

British Life Insurer Prudential has been helped out with their first quarter forecasts due to growth in the Asian sector. In fact there has been a 14 percent rise in the first quarter sales because of the Asian market. This negative impact for the US has made their investors a little fearful.

Prudential has been competing with Aviva for the top spot in the UK. They have seen sales in that last three months that totalled 729 million pounds where the forecast of 703 million pounds from Prudential. This is excluding the dollar and other fluctuations in currency. The fluctuations show about 13 percent rise in sales. The numbers have so far come in closer to the high end of the range in Asia making it a good performance by the company. Asia has more than half the group’s new business and is going to be key to the increase of sales. They are expecting about 375 million pounds in 2008. This is about 35 percent up and the momentum Prudential will need.

Prudential has warned that they may see a softening in growth over the long term, but they have still seen a 37 percent jump in sales since 2007. Growth is strong and will remain so in Asia for the next little while. India and Indonesia are also seeing high rates of growth for Prudential. Taiwan is currently the only place seeing a negative growth for the company. Prudential in the trading industry has been down 1.5 percent despite the growth in Asia.

Back To Financial News April 2008
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