- The markets in which Prudential (SGX:K6S) has footprints are growing twice as fast as the rest of the world; the rapidly rising middle-class population in Asia is expected to increase the awareness and demand for protection and wealth management solutions.
Well positioned to capture structural life insurance opportunities in fast-growing Asian market.
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Ambitious targets set over the next five years to 2027.
- Prudential has set ambitious targets to grow its value of new business (VNB) from US$2.2bn in 2022 to US$4.4-4.5bn over the next five years, mainly driven by a 2.5x-3x VNB increase in the agency channel, with more active agents and higher agent productivity, and 1.5x-2x increase in the bancassurance channel, with higher penetration of two major strategic partners, and an improving margin with a higher protection mix.
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A low-teens VNB growth expected in FY24F.
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