Insurer Prudential clocks 12% rise in annual new business profit
FILE PHOTO: The offices of British life insurer Prudential stand in London, Britain March 17, 2019. REUTERS/Simon Dawson/File Photo
March 18 : Insurer Prudential posted a 12 per cent rise in annual new business profit on Wednesday, helped by resilient momentum in its Asia and Africa market.
The London and Hong Kong dual-listed company said its new business profit on a traditional embedded value (TEV) basis was $2.78 billion for the year ended December 31, compared to $2.46 billion in fiscal 2024, up 12 per cent on a constant exchange rate basis.
The insurer said it now expects to return more than $7 billion to shareholders over the 2024–2027 period.
"We carry the momentum of 2025 into 2026 and are confident in our double-digit growth trajectory across our key metrics," CEO Anil Wadhwani said.
New business profit in its key Hong Kong unit rose 12 per cent, driven by stronger sales and margins across local and Mainland Chinese customers.
In fiscal 2025, adjusted operating profit before tax increased to $3.31 billion from $3.13 billion last year, on a constant exchange rate basis.
The insurer also declared a second interim dividend of 18.89 cents per share, above the 16.29 cents apiece announced last year.
