Winning ways Prudential’s international insurance operation, spearheaded by Prudential of Japan, continues its extraordinary record of success.
Growth of international new annualized premiums
A growing name in life insurance abroad Prudential’s growth story in international insurance markets is one of our proudest achieve- ments. The story began in 1988, with the launch of our first overseas life insurance operation in Japan. Today, Prudential of Japan is one of the country’s fastest-growing life insurance companies, and it serves as a model for our units in Argentina, Brazil, Italy, Poland, the Philippines, South Korea and Taiwan.
In overseas markets, which are often underserved, Prudential has distinguished itself through an innovative, needs-based selling model. Using well- educated and highly trained career agents called Life Planners, we serve affluent clients based on a thorough analysis of their financial needs. This approach has enabled us to achieve some of the highest ratings for customer satisfaction in the markets we serve, as well as high rates of productivity and policy persistency.
In April of 2001, we buoyed our position in Japan with the acquisition of Kyoei Life Insurance Co. Ltd., now called Gibraltar Life Insurance Company, Ltd., which was the 11th-largest insurer in Japan in terms of assets. Gibraltar adds distribution scale and more middle-market focus to our Japanese operations.
Prudential Financial 2001 Annual Report