Prudential aims to double earnings in Asia

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British insurer Prudential is aiming to double its earnings in Asia over the next several years.

As part of the plan, the company aims to boost its investment in technology in the region.

According to Nic Nicandrou, chief executive of the company’s Asian operations, the insurer will raise its annual spending by 20% to £300 million (US$427 million) starting this year in areas such as automation and online sales.

The insurer also hopes to lure in younger customers who are increasingly expecting quick service.

Nicandrou expects the earnings in the region to double every five to seven years, aided by these technology initiatives.

Last year, Prudential registered £2.4 billion of new business profit and £2 billion of operating profit in Asia.

Last month, the company announced that it would spin off its UK operations so it can focus on faster-growth markets.

This post was syndicated from InsuranceAsia News. Click here to read the full text on the original website.

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