Insurer Prudential logs rising sales on Asia success

Britain's biggest insurer Prudential announced on Tuesday that sales grew eight percent in the first quarter as the group was lifted by a particularly strong performance in Asia. Total insurance sales rose to £1.04 billion (1.23 billion euros, $1.61)in the three months to March, compared with £964 million in the same part of 2012, Prudential said in a trading update. "We have made a good start to 2013," said chief executive Tidjane Thiam in the statement. "Our life insurance business in Asia has continued to deliver profitable growth." He added: "Against a background of low long-term interest rates and uncertain economic growth, we remain focused on executing our strategy and capturing the long-term profitable growth opportunities available to us, particularly in the growing markets of Asia, where we continue to build on our leading market positions and strong multi-channel distribution capabilities. "Across our markets, we remain disciplined in our approach, putting value ahead of volume, as we continue to optimise the balance between risk, returns, capital and cash generation."