Pruchild Insurance..

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Prudential ICICI Asset Management Company, (55%:45%) a joint venture between Prudential, UK`s leading insurance company and ICICI, India`s premier financial institution. The joint venture was formed with the key objective of providing the Indian investor mutual fund products to suit a variety of investment needs. The AMC has already launched a range of products to suit different risk and maturity profiles.

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Prudential plc was founded in 1848. Since then it has grown to become the largest provider in the UK providing a wide range of savings products for the individual including life insurance, pensions, annuities, unit trusts and personal banking. It has a presence in over 12 countries, and caters to 10 million customers. It manages assets of over US$ 247 billion (June 30, 1999).ICICI Ltd was established in 1955 by the World Bank, the Government of India and the Indian Industry. Since inception ICICI has grown from a development bank to a financial conglomerate and has become one of the largest public financial institutions in India. ICICI has financed all major sectors of the economy, covering 6,811 companies and 16,632 projects. As of December 31, 1999 ICICI had disbursed a total of Rs. 1,065 bn since inception.

Prudential Assurance Malaysia Bhd (PAMB) expects its latest protection plan called "PRUmy child" to boost its education insurance segment to contribute between 15 to 20 per cent to overall new business this year .
Its chief executive officer Charlie Oropeza said the latest child education policy will contribute the bulk of the company's premium growth as demand has been increasing in anticipation of an annual birth rate of 500,000.

"Today's world is very challenging for expecting mothers and their unborn babies, especially during the growing up period. Thus, we believe the unique features offered via PRUmy child will help to boost our premium growth for education plans for this year," he told reporters after the launch of the new policy in Kuala Lumpur yesterday.

PAMB hopes to continue recording strong growth in new business annual premium in tandem with the economic recovery.

"We registered a 24 per cent growth last year and intend to do much better this year," Oropeza said.
Last year, PAMB achieved a record RM817 million in new business annual premium, of which 85 per cent of the sales came from its investment-linked products.

PRUmy child, which comes with a minimum annual premium of RM600, is the first of its kind child insurance plan that offers coverage during the crucial pregnancy and infancy periods.

It can be purchased for the unborn child as early as 18 weeks into the pregnancy, or for the child who is between one and 18 years old.

The parent must be aged between 18 and 60 to own the policy.

Apart from providing the child with an unprecedented protection before birth, PRUmy child also allows parents to further secure the child's well-being with other riders that are linked to medical, accident and critical illness.