Prudential plc, one of the oldest and most strongly capitalised life insurance companies in the world, achieved double-digit growth in 2015.
The IFRS operating profit rose 22 per cent to £4billion following strong sales throughout the world. In Asia, which led the company’s growth, IFRS operating profit grew 17 percent to £1.3billion and double-digit sales increases were achieved in 8 out of 12 markets.
Prudential launched in Ghana and Kenya in 2014, in Uganda last year, and reached an agreement in January to purchase Professional Life Assurance in Zambia.
The insurance company has also formed partnerships with Societe Generale, Fidelity Bank and Cal Bank in Ghana; Standard Chartered in Kenya; and Crane Bank in Uganda.
Under these agreements, Prudential’s range of market-leading long-term savings and protection products will be available to the banks’ customers through their branches.
Commenting on the results, Mike Wells, Group Chief Executive said: “The disciplined execution of our strategy, underpinned by the cash-generating nature of our business, positions us well to continue to delivering high-quality products and services for our 24 million insurance customers, and long-term profitable growth to our shareholders”.