MANILA, Philippines - Pru Life UK, the Philippine life insurance arm of London-based Prudential plc, showed a 33% growth in 2011, boosted by increased sales.

In a statement, Pru Life UK said its total gross premium income in 2011 reached P10.4 billion, from P 7.8 billion in 2010. Total gross premium income is the premium income earned (first year, single and renewal years), gross of reinsurance, for the period.

"Our improved performance was brought about by recruiting more financial advisers and increased productivity. We recruited over 1,000 agents in 2011. Furthermore, there was significant growth in the business brought to us by brokers," Pru Life UK President and CEO Antonio De Rosas said, in a statement.

De Rosas also attributed the companys continued growth to its aggressive recruitment strategy, training and coaching programs for financial advisers. The company also launched innovative products such as the Pru Link Exact Protector, a revamped version of one of Pru Life UKs bestselling unit-linked or investment-linked products, the PruLink Exact Plus.

Meanwhile, Prudential plc said its Asian life insurance business became the single largest contributor to the group International Financial Reporting Standards (IFRS) operating profit, accounting for 34% in 2011.

Asian life insurance excluding Taiwan has grown from 12 per cent of Group IFRS operating profit in 2007 to 34 per cent in 2011. The nominal amount has nearly trebled in three years from 257 million to 709 million, said Prudential plc Group Chief Executive Tidjane Thiam. The heart of our strategy remains Asia, where our positive momentum has been maintained in 2011, with total IFRS operating profit up 30 per cent and a cash remittance to the Group of 206 million. Asia is generating both growth and cash and our focus on the fast-growing markets of Southeast Asia continues to pay off, he said.

Prudential plc, through Prudential Corporation Asia, has life insurance operations in Vietnam, Indonesia, Malaysia, Singapore, Philippines, India, Hong Kong, China, Taiwan, Thailand and Korea.

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Pru Life UK income jumps 33% in 2011