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PRUBSN’S FIRST HALF 2012 ANNUAL CONTRIBUTION EQUIVALENT UP 23% YEAR-ON-YEAR
Monday 22/10/2012
KUALA LUMPUR, 22 Oct (Bernama) -“ Prudential BSN Takaful Berhad (PruBSN) today announced that its total New Business Sales grew from RM105 million in the first half of 2011 to RM129 million for the same period this year (1H2012), marking a robust growth of 23%.
Commenting on the results, Encik Azim Mithani, Chief Executive Officer of PruBSN said “PruBSN has delivered another strong performance which has enabled us to maintain our leading position among the Takaful operators in Malaysia. Our record Annual Contribution Equivalent (ACE) of RM129 million in the first half of this year has given us a greater market share of 28%, an increase from the 27% we recorded in 2011. Very clearly, this could not have happened without all of the hard work and dedication across the company, especially from our sales teams with the support of customer service and operations.”
As a further sign of its business strength, PruBSN has grown its Assets Under Management from RM601 million in first half of 2011 to RM774.4 million in the first half of 2012, representing an increase of 29% from the same period last year.
“Our commendable results for this period were achieved through strong and consistent performance across our multi-distribution channel platforms,” said Azim.
Since its inception six years ago, PruBSN consistently recorded impressive growth which has made it one of the most dynamic Takaful players in the country. PruBSN now has a combined total of close to 11,000 Direct Agents and Prudential Assurance Malaysia Berhad Agents serving over 300,000 customers nationwide. The Company’s partnership with local banking and financial institutions provides further segmentised distribution reach for its shariah-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 shariah-compliant product innovation,” Azim added saying that 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.
When asked about the future of the local Takaful market, Azim commented “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. We as an industry must ensure that there is adequate supply. As it is, there is an enormous potential for the Takaful industry to grow given the increasing wealth, population size and awareness of Malaysians of the need to protect their assets as well as securing good education for their children.”
About Prudential BSN Takaful Berhad
Prudential BSN Takaful (PruBSN) is a joint venture between Bank Simpanan Nasional (BSN) and Prudential PLC (Prudential) which holds 51% and 49% stake respectively.
The combined corporate strength of Prudential and BSN has formed a concrete foundation that accelerates PruBSN’s growth to achieve the leading position in the takaful industry only after six years in operations.
Driving on its TAKAFUL FOR ALL, FOR LIFE slogan, PruBSN strives to provide innovative and dynamic products in the local market, while building its vision to become the world-class Shariah-compliant financial solutions provider.
More information about PruBSN is available at www.prubsn.com.my.
SOURCE : Prudential BSN Takaful Berhad
FOR MORE INFORMATION, PLEASE CONTACT:
NAME : Hazira Hisham
Deputy Manager, Public Relations
Brand & Communications
TEL : +603 2053 1069
MOBILE : +6019 321 9397
FAX : +603 2072 6188
EMAIL : hazira.hisham@prubsn.com.my
NAME : Wan Madzrina Ali Mat
Assistant Manager, Public Relations
Brand & Communications
TEL : +603 2053 1160
MOBILE : +6012 933 1362
FAX : +603 2072 6188
EMAIL : wan.madzrina@prubsn.com.my
--BERNAMA
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