Prudential on bigger slice of Asia
Doing business in Asia will drive Prudential's growth, the insurance giant has declared.
The firm said it had gained record sales across the region in last three months of last year.
Prudential, which intends to buy AIG's Asian business for £23.5 billion, said its revenue from the region increased by 42% in the fourth quarter of 2009.
When it buys from AIG, Prudential will be the biggest player in Asia.
The region is so attractive because Asian countries' inhabitants have strong savings habits and national economies in the region have high-output growth rates and low penetration, according to Prudential chief executive Tidjane Thiam.
"Asia is the engine of the group's future growth, particularly the fast-growing economies in South East Asia," he said.
"Asia is complex, dynamic and exciting, and its economies differ significantly, with varying levels of economic development, from the OECD members, Japan and Korea, to the fast growing markets of South-East Asia, such as Indonesia and Malaysia."
The standard industry measure of annual premium equivalent sales were up to £1.26 billion in Asia last year, from £1.22 billion in 2008.