Prudential performing well on insurance sales

Insurance company Prudential has made a strong start to the year as its first quarter sales increased and it remains optimistic about its long-term outlook.

Prudential's sales in the first three months of 2005 increased by eleven per cent to total £478 million and growth was above the anticipated ten per cent improvement.

Sales in the UK and Europe increased by twelve per cent to £208 million as unit-linked bonds and annuities showed strong growth.

US sales also increased by nine per cent, with the Prudential expecting its Jackson National Life business to up sales at twice the market rate of four per cent, whilst sales in Asia were helped by growth in the company's Korean and Indian operations.

Finance director Philip Broadley said, "Our businesses across all regions continue to perform strongly and are well positioned to take advantage of the opportunities in their respective markets."