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LONDON - BRITISH insurance group Prudential said on Tuesday that it will monitor 'opportunities' which could arise from an asset disposal programme by US giant AIG in Asia.
Recently nationalised US insurer American International Group (AIG) was saved from bankruptcy last month and has been propped up with increasing quantities of public money.
'We are of course monitoring closely AIG's disposal programme and considering what, if any, opportunities (in Asia) may arise that would create additional value for our shareholders,' Prudential said in a trading update.
It added: 'Asia is the only region in the world that is expected to record high single digit economic growth rates in both 2008 and 2009.
'This, combined with the strong growth of intra-regional trade, ongoing development of domestic consumer markets and the very low penetration of financial products, means we remain highly positive about the medium to long term prospects for Asia and our prime position in the region.'
Meanwhile, Prudential said Tuesday that sales of new insurance policies surged ahead in the first nine months of 2008.
Total sales soared 15 per cent to 2.302 billion pounds (US$5.8 billion) in the nine months to the end of September, compared with the same period of 2007.
In Asia alone, sales rocketed nine percent to 1.033 billion pounds. -- AFP
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