Prudential reveals sales increase

10 November 2010

British insurance firm Prudential has posted a 17 per cent increase in new business sales during the third quarter of the year and revealed that it expects to see consistent growth over the next few months.

According to the Wall Street Journal, the London-based group's total insurance sales for the last three months stood at £809 million ($1.29 billion), with transactions over the first nine months of 2010 reaching £2.46 billion.

"We are emerging as one of the winners in a post-financial crisis world, with all our businesses performing strongly," said chief executive Tidjane Thiam. "We remain well positioned to deliver strong growth and generate strong returns."

He added that Prudential is upbeat about its future prospects and insisted that the company is confident it will "outperform" its rivals as the global economic recovery gathers momentum.

The announcement came after Barclays announced its third-quarter profits had fallen by 76 per cent, following a drop in income and a revaluation of its debts.

By Claire Archer

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