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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Re: Prudential Plc 2378

Postby winston » Thu Jan 16, 2020 3:56 pm

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Oct 25, 2019

<Research Report>Macquarie Trims PRU (02378.HK) TP by 7% to $187; Rated Outperform

Macquarie believed the M&G demerger has added market value to PRU (02378.HK), seeing a price upside for the latter in the next 12 months.

The group shifted its US business development strategy from growth to creating cash flow, targeting at lower hedging costs.

The broker expected PRU's Hong Kong business to be affected in near term, given reduced cross-border sales between China and Hong Kong.

Overall, PRU was retained Outperform, with target cut by 7% to $187.

Source: AAStocks Financial News
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Re: Prudential Plc 2378

Postby winston » Thu Jan 16, 2020 3:58 pm

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Aug 14, 2019

PRU (02378.HK) Interim NP Rises 13.6% to GBP1.54B, DPS GBX16.45

PRU (02378.HK) announced interim results ended June 2019.

Net profit amounted to GBP1.54 billion, up 13.57% yearly.

Basic EPS equaled GBX59.4.

First interim DPS grew 5% to GBX16.45.

Source: AAStocks Financial News
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Re: Prudential Plc 2378

Postby winston » Wed Aug 12, 2020 8:02 am

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Prudential net plunges 73pc

by Stella Zhai

Prudential (2378) saw its net profit for the first half this year plunge by 73 percent from a year ago to US$534 million (HK$4.17 billion) and said it plans to spin off its US business Jackson to focus on Asia and Africa.

The British insurer declared an interim dividend of 5.37 US cents, representing one-third of the expected full-year dividend for 2020 under the group's new dividend policy, it said.

Operating profits slid 3 percent year-on-year to US$2.54 billion during the first six months, with that from Jackson's profit falling 19 percent to US$1.27 billion.

Operating profits from Asia grew 12 percent to US$1.73 billion.

A minority initial public offering of Jackson is planned for the first half of 2021, with "full divestment over time," Prudential said.

Prudential recorded a new business value of US$353 million in Hong Kong during the first half this year, a 67 percent plunge from a year ago, with annual premium equivalent down 64 percent year-on-year to US$388 million, dragged down by the reduced visitor levels due to travel restrictions between the mainland and Hong Kong, it said.

Shares of the insurer grew 3.3 percent to HK$128.40 yesterday.

Source: The Standard

https://www.thestandard.com.hk/section- ... unges-73pc
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