Insurance giant Prudential has underlined its potential in Asia by revealing a new target to double new business profits from the region by 2013.
The rapidly-expanding economies of South East Asia are ripe for growth as the penetration of insurance products remains low in comparison with developed countries.
In a presentation to investors in London, chief executive Tidjane Thiam set out his target to double the value of profits from Asian new business by 2013, compared with the £713 million achieved last year.
The Pru delivered on its previous objective to double Asia new business profits between 2005 and 2009 and said its new target was achievable given its proven strategy and the potential of its chosen markets.
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