Strategic Expansion and Growth
Asia
Markets returned to year-on-year growth in 2Q
Thailand
Partnership momentum
15-year exclusive partnership with TMB
(APE up +81%)
Digital lifestyle & health collaboration signed
with The 1 Central
Focus on quality
H&P APE growth +67%
H&P renewal premium up +13%
• 94% customer retention ratio
Leveraging technology
Virtual sales process launched at UOB, TBank
E-Payment rate 83% (vs. 71% in FY19)
Vietnam
Enhancing distribution capabilities
SeABank partnership launched in April
• 22% increase in agent recruits²
Pivot to more balanced mix
•
Banca APE +55%
Focus on quality
.
Total renewal premium up
+13%
•
+15% increase in H&P APE
•
99% regular premium
95% customer retention ratio
•
Taiwan
Profitable growth
Shift to higher-margin Par products
NBP up +19%, double-digit growth in 1Q and 2Q
Diversification of distribution
•
Strong broker sales, APE 4X of last year levels
•
17 bank partners and 15 broker relationships
Focus on quality
•
98% customer retention ratio
APE
Earnings¹
+45% to $90m
1Q20
+33%
2Q20
+19% to
$75m
+56%
क
PRUDENTIAL
Data as of HY20 and growth on a constant exchange rate basis unless stated otherwise.
1. IFRS pre-tax operating profit
2. Year on year growth vs HY19
APE
+8% to $95m
Earnings¹
APE
Flat
+16%
Regular
premium
+15%
Earnings¹
+16%
1Q20
2Q20
1Q20
2Q20
$125m
to
0%
+14% i
-10%
+11%
$37m
$144m
27
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