British insurer Prudential has reported an 8% rise in first-quarter sales, at the top end of analysts' forecasts, lifted by strong growth in Asia and the US.
Prudential, Britain's second largest insurer and the first of its peers to publish sales figures for the first three months of 2007, said group new business sales for the quarter totalled £640m.
Prudential said its UK business - in the throes of an overhaul which will slim the division to concentrate on profitable products - saw a 23% drop in total sales to £183m. The company blamed the drop on a particularly strong performance in the same period last year.
Prudential makes over 60% of its sales outside its domestic market, but the progress of its underperforming UK business has been keenly watched by analysts and investors.
The insurer said in March it had raised its UK cost-cutting target, adding that 3,000 jobs were under review.
Prudential's fast-growing Asia business saw sales rise 34% to £277m, while US sales were up 21% to £180m.
