Business News

Published: Friday March 29, 2013 MYT 12:00:00 AM
Updated: Wednesday April 24, 2013 MYT 2:11:50 PM

PruBSN records 15% ACE increase for FY2012

KUALA LUMPUR: Prudential BSN Takaful Bhd recorded a 15% increase to RM265.7 million on an Annual Contribution Equivalent (ACE) basis for the financial year ended Dec 31, 2012.

“The strong performance in 2012 was achieved because of the strength of Prudential's franchise in Malaysia, its robust multi-distribution channel strategy and new product launches,” PruBSN said in a statement on Friday.

It said that gross contributions increased 38% to RM782.3 million, up from RM568.9 million in 2011.

“At the beginning of 2012, we were confirmed as the number one takaful operator in Malaysia for the first time in our history. During 2012, we broadened our geographical footprint and distribution of our shariah-compliant products and services to Melaka and Ipoh and also formed a bancatakaful partnership with Standard Chartered Saadiq,” said PruBSN chief executive officer Azim Mithani.

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