Prudential Plc 2378; PUK

Re: Prudential 2378

Postby winston » Thu Mar 10, 2011 12:22 pm

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UPDATE 1-Pru HK shares in biggest pct gain after strong profit

* Biggest one-day percentage gain since listing in May 2010
* Highest volume since August 2010

HONG KONG, Mar 10 (Reuters) - Hong Kong-listed shares of Prudential Plc <2378.HK>, Britain's top insurer, posted their biggest one-day percentage gain on Thursday, buoyed by forecasting-beating earnings and a higher-than-expected dividend.

The stock jumped 11 percent, the biggest gain since listing in Hong Kong by way of introduction in May last year. Prudential did not raise any money from the listing.

Prudential's earnings were released after the close of Hong Kong trade on Wednesday, but investors pushed its London-listed shares up 4.9 percent, making them the top gainer on the FTSE 100. [ID:nLDE7271SZ]

"It pretty much fired on all cylinders in many ways," said Arjan van Veen, an insurance analyst with Credit Suisse, referring to Prudential's strong performance across Asia, Britain and the United States.

"In Asia it has good momentum." Rival AIA Group Ltd <1299.HK> was down 0.8 percent, while the benchmark <.HSI> had lost 0.7 percent.

Prudential's gains were amplified by relatively thin trading volume as less than 5 percent of Prudential's total outstanding shares are traded in Hong Kong, although volume traded was the highest since August 2010.

AIA's IPO last year, raised $20.5 billion.


Source: Reuters
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Re: Prudential 2378

Postby winston » Thu May 10, 2012 6:48 am

Prudential up 8pc on Asian growth

London-based insurer Prudential (2378) has reported a better-than-expected 8 percent increase in new business profit during the first quarter, supported by a strong contribution from Asia.

Prudential earned 536 million (HK$6.70 billion) in the first three months of the year, beating the market estimate of 514 million.

The Asian operation - the 163-year-old insurer's biggest contributor - saw its new business profit rising 22 percent to 260 million. But new business profit from the US and Britain dropped 3percent and 5percent respectively.

"Asia has became an increasingly important part of Prudential's business...amid uncertain economic environment in the West," chief executive Tidjane Thiam said yesterday.

Group annual premium equivalent rose 9 percent in the first quarter to 964 million and with 85 million of that generated in Hong Kong, is up 10percent from a year ago.

British media have speculated that Britain's biggest insurer may move its headquarters to Hong Kong to avoid the impact of new European Union capital rules on insurers. The stock fell 1.5percent to HK$89.80 yesterday.

http://www.thestandard.com.hk/news_deta ... 20510&fc=7
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Re: Prudential 2378

Postby winston » Thu Nov 15, 2012 5:47 am

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Prudential posts surging sales

Britain's biggest insurer Prudential on Wednesday said its sales rebounded sharply in the third quarter, boosted by growth in Asia and despite a turbulent global economic backdrop.

Total insurance sales rallied 19 percent to 1.048 billion pounds (HK$13.2 billion) in the three months to the end of September, compared with 880 million in its third quarter of 2011, Prudential said in a trading statement, AFP reports.

Sales grew 14 percent to 3.08 billion in the first nine months of 2012, it added.

"Prudential has continued to perform strongly in the third quarter of 2012 in a global macroeconomic environment that remains turbulent,'' chief executive Tidjane Thiam said in the statement.

"The global macroeconomic environment remains challenging with persistently low government bond yields and recently we have also seen the IMF downgrade global growth forecasts.

"Although we remain defensively positioned, we are focused on the long-term profitable growth opportunities available to us, particularly in southeast Asia,'' he added.

Source: The Standard HK
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Re: Prudential 2378

Postby winston » Tue Jan 15, 2013 7:04 am

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PRU (02378.HK)'s chairman bullish on future performance of Asian life insurance biz
2013-01-14

PRU (02378.HK)'s chairman Paul Manduca, has been bullish upon Asia's insurance industry for 20 years and is especially upbeat about the performance of life insurance business, which is a long-term investment.

Manduca predicts half of the middle-class people in the world will come from Asia in 2020.


Source: AAStocks Financial News
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Prudential PLC (PUK)

Postby winston » Sun Jun 26, 2016 3:58 pm

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Prudential PLC (NYSE: PUK) offers health, disability, critical illness, and accident coverage products; and life insurance products, as well as pension products and annuities, across its platform in both the U.S. and the UK.

Shares of Prudential closed down 17% at $33.48. The stock has a consensus analyst price target of $50.75 and a 52-week trading range of $31.30 to $51.26.

Source: 24/7 Wall St.
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Re: Prudential PLC (PUK)

Postby winston » Sat Jul 02, 2016 9:13 am

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Insurance Stocks to Watch: Prudential Public Limited Company (PUK)

Speaking of PUK, the stock took a 19.4% hit right after the Brexit vote and remains down over 16%.

Despite market fears, PUK’s Solvency II coverage ratio is even better that AV’s at 190%. In addition, the company reportedly generates 87% of its business from outside the EU. Roughly three-fourths of that business comes from the U.S. and Asia.

Not only should those business segments not be directly impacted by the Brexit, but earnings in the U.S. dollar, the Japanese yen and other foreign currencies could boost PUK’s earnings power.

The pound has collapsed more than 10% since the vote and has hit its lowest level in more than 30 years. Both the dollar and the yen have surged as investors flock to more stable currencies.

Perhaps PUK’s strong balance sheet and large earnings exposure to the U.S and Asia are why the stock spiked more than 11% during a strong Tuesday trading session after the market’s initial knee-jerk sell-off.

Source: Investor Place
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Re: Prudential PLC (PUK)

Postby winston » Tue Jul 05, 2016 1:32 pm

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<Research Report>JPM Downgrades PRU to Underweight on Weak Balance Sheet; AIA Wins Over

JPMorgan, in its report, said AIA (01299.HK) has a stronger balance sheet, less corporate bond, simpler product mix and business growth in Asia, thus AIA wins over PRU.

JPMorgan maintained the rating of AIA at Overweight with target price $57; PRU was downgraded from Neutral to Underweight with target price at 1,252 pence.

On solvency ratio, the broker believed PRU's UK Solvency II ratio will fall to 112%, below its hurdle rate of 130%, which could trigger a capital injection.

Also, a large part of PRU's capital is not replaceable, and any deterioration of UK credit and/or US equities/credit would further weaken Prudential's balance sheet. Also, the broker believed the business growth of Prudential is shrinking.

Source: AAStocks Financial News
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Re: Prudential PUK

Postby winston » Wed Aug 10, 2016 9:51 pm

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Prudential first-half profits boosted by UK and Hong Kong

by Oliver Ralph

The UK-based insurer, whose main businesses are in the UK, US and Asia, reported first half operating profits of £2.06bn, up 9 per cent up on the same period in 2015. Analysts had expected a flat performance.


Prudential’s Solvency II ratio (a measure of capital available as a proportion of the minimum required) slipped from 193 per cent at the end of 2015 to 175 per cent at the end of June.


Source: FT


http://www.ft.com/cms/s/0/98417be6-5eeb ... z4Gw9nB3vJ
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Prudential Plc 2378; PUK

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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