Prudential Asia Prudential Asia

Executing the Strategy: DisciplineOperating Expense Efficiencies• Expense ratios reducing as scale of businessincreases faster than cost baseLife Business Operating Expense Ratio*• Active use of technology to improve efficiency:– e-submission of applications– Auto underwriting– Malaysia Life has industry’s lowest headcount• Funds Business profit margins increasing:– Action taken to reduce cost base during Crisis– Scale increasing*Sum of sales distribution cost, sales related expenses and management related expenses divided by written revenue premiums12