Prudential plc revealed its Q3 performance highlights on a constant (and actual) exchange rate basis for the nine months ended 30 September 2024[1] with new business profit was $2,347 million, up 11 per cent (10 per cent) including economic impacts. While Q3 year to date APE sales were up 7 per cent (5 per cent) to $4,638 million. APE sales for the three months ended 30 September were up 10 per cent (10 per cent) compared with the same period in the prior year, with all segments growing in the discrete third quarter. This increase in APE sales in the third quarter was driven by growth from Hong Kong, China, and Thailand, with the level of growth moderating in Taiwan.
Anil Wadhwani, Chief Executive Officer of Prudential, commented: “Our new business performance in the third quarter saw our momentum continue as expected. APE sales for the three months ended 30 September were up 10 per cent compared with the same period last year. Our multi-channel distribution model has driven broad based new business profit growth including, on a total regional basis, in Greater China, ASEAN and Africa. Looking ahead, we remain on track for growth in new business profit in 2024 of between 9 to 13 per cent.”
Prudential Thailand, recognized as one of Prudential’s standout markets, reported robust APE sales[2] of THB 7,688 million for the nine months ending September 30, 2024, up 27 per cent from the same period last year. Q3 APE sales for the three months reached THB 2,752 million, a 36 per cent increase from THB 2,021 million in 2023. This impressive growth has placed Prudential Thailand among the top 5 in APE [3]sales within Thailand’s life insurance industry in the third quarter of 2024. Additionally, Prudential Thailand reinforced its financial strength with total assets amounting to THB 213 billion as of September 30, 2024[4].
Bundit (Kenny) Jiamanukoonkit, Chief Executive Officer of Prudential Thailand said, “Our resilient Q3 performance reaffirms the strength of our strategic Bancassurance partnerships with leading Thai banks, including ttb, UOB, and CIMB Thai. Complemented by our extensive network of agents, brokers, telemarketing, and digital channels, we are committed to delivering inclusive products and solutions that address the varied needs of our customers. We aim that by year-end, we will secure our strong performance and maintain our market leadership in APE sales.”
Prudential Thailand is committed to delivering a full spectrum of products, including life insurance, health, savings, investments, and financial advisory services, all designed to cater to every stage of life at accessible prices. We believe in enhancing everyday life together and strive to make insurance available to vulnerable groups. For more information, visit www.prudential.co.th
[1] https://www.prudentialplc.com/en/news-and-insights/all-news/news-releases/2024
[4] ผลการดำเนินงาน และข้อมูลทางการเงิน - พรูเด็นเชียล ประกันชีวิต