Principal Insurance achieved 128 per cent annualised premium growth

Principal Insurance (Hong Kong) - which specialises in pension business - achieved 128 per cent annualised premium growth last year compared with a year earlier, with the number of policies increasing 143 per cent.

Assets under management for retirement services grew 97 per cent during the year.

According to Principal's chief executive Rex Auyeung Pak-kuen, recent strong growth in pension business revealed many employers in the SAR were interested in offering pension protection for their employees in a bid to prepare for the upcoming Mandatory Provident Fund. ENOCH YIU