Prudential Plc 2378

Prudential Plc 2378

Postby winston » Wed Mar 21, 2018 8:39 am

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Prudential to expand in Asia

by Janice Huang

Prudential Plc (2378) will boost investments to develop its Asian business and expand its investor base in the region going forward, Nic Nicandrou, chief executive of Prudential Corporation Asia, said yesterday.

He said 2017 marked the eighth consecutive year of double-digit growth of the group's business in Asia.

Hong Kong remains a key market for Prudential as it made the largest contribution to new business in the region last year, he said, citing technology and innovation as key enablers of the group's growth strategy.

He said Prudential will invest 300 million pounds (HK$3.29 billion) annually in technology in Asia over the next three years.

About 60 percent of new business are now submitted electronically, Nicandrou said.

Aided by technology, an insurance policy can be issued in 30 minutes in China and within two hours in Hong Kong, Malaysia and Indonesia.

Source: The Standard

http://www.thestandard.com.hk/section-n ... 0321&sid=2
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Re: Prudential Plc 2378

Postby winston » Fri Dec 07, 2018 2:07 pm

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14 Nov, 2018

PRU 9M18 New Business Profit of Life Insurance Up 17%

PRU (02378.HK) announced that the group's new business profit of life insurance for the first nine months of the year advanced 17% at a constant exchange rate, or increased 12% at an actual exchange rate.

During the period, the new business profit of Asia grew 15% at a constant exchange rate, or hiked 9% at an actual exchange rate

Source: AAStocks Financial News
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Re: Prudential Plc 2378

Postby winston » Thu Mar 14, 2019 7:54 am

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Asia market boosts Prudential's earnings

by Lucas Lo

The net profit of Prudential (2378) rose 26 percent from 2017 to 3.01 billion UK pounds (HK$31.1 billion), with a second interim dividend of 33.68 pence per share.

The total dividend payout per share increased by 5 percent to 49.35 pence, reflecting its strong performance last year and confidence in business prospects.

Basic earnings per share in 2018 was 116.9 pence and operating profit rose 6 percent to 4.83 billion pounds

Profit from Asia was boosted by 14 percent to 1.9 billion pounds last year, but operating profit in the United States slid by 11 percent to 1.92 billion pounds, due to the higher market-related DAC amortization and lower spread-based income.

The group saw an increase in profit from new business by 11 percent to 3.88 billion pounds, driven by the impact of its increasing health and protection sales in Asia and higher US interest rates and resilient performance in Britain and Europe.

Chief executive Mike Wells said the group was making good progress in demerging M&G Prudential, its savings and investment business in Britain and Europe, into a separate company, while Prudential will focus on Asia and the US.

The group has transferred 36 billion pounds in customer assets to its new subsidiary in Luxembourg in response to Brexit.

The group will pay attention to the risks surrounding Brexit, as well as the slowdown in the global economy, and the Sino-US trade war, he added.

Source: The Standard

http://www.thestandard.com.hk/section-n ... 0314&sid=2
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