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PRUDENTIAL Assurance Malaysia Bhd aims to have one million policyholders by the end of 2006, with the launch of several new products, from around 700,000 now.

Chief executive officer Ng Keng Hooi said yesterday that for 2005, the company had three new products, from the estimated 20 to 30 products, including the riders.

"We are going all out to achieve that number one position. I'm sure our competitors are also too. We hope to get very close to the target (of one million policyholders) in the next one year," he said at the launch of its PRULady and PRULady plus in Kuala Lumpur yesterday. Of its 700,000 policyholders, about 50% are women.

Ng said that next year, Prudential will launch an investment-linked product, which will see it investing overseas.

Its total premium income in 2004 was about RM1.7 billion and new business sales were RM431 million, making it the second largest life insurer in the country.

To date, it is managing RM5 billion in assets and up to 30 products of various insurance plans, which include its newly launched PRULady and PRULady plus.

Ng added that PRULady and PRULady plus, which were designed to help reduce financial burdens resulting from female-related illness, offer three levels of sums assured -- RM50,000, RM100,000 or RM150,000.

The entry age for PRULady is between 18 and 60 years while that for PRULady plus is between 18 and 40 years. Both plans provide customers options for coverage till 60, 70 or 80 years old. The two plans were developed as supplementary riders attached to PRULink assurance plan.

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