Prudential 1Q Asia, Africa New Business Grew by Double-Digit
13 Mayo 2021 - 4:23AM
Noticias Dow Jones
By Ian Walker
Prudential PLC said Thursday that it experienced double-digit
new business growth in Asia and Africa during the first quarter of
the year, and that the spinoff of its U.S. business is due to
complete in the second half of the year.
The insurer said that it is still considering a $2.5 billion to
$3 billion equity fundraising following the demerger to boost its
financial flexibility.
Annualized premium sales, a key metric for the industry, rose
14% in Asia and Africa during the quarter to $1.19 billion, with
new business profit up 21% to $624 million compared with the same
period last year.
"We remain confident that our clear and focused strategy,
coupled with our proven execution ability, leaves us well placed to
continue to deliver value for our shareholders and all our
stakeholders over the long term, with a focus on achieving
sustained double-digit growth in embedded value per share," Chief
Executive Mike Wells said in a statement ahead of its annual
general meeting.
Prudential previously announced that it was separating its U.S.
business Jackson Financial Inc. and listing it on the New York
Stock Exchange.
The move is part of the company's plan to focus on the growth
opportunities of Asia and Africa.
Shares in London at 0845 GMT were down 77.50 pence, or 5.1%, at
1,447.50 pence.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
May 13, 2021 05:08 ET (09:08 GMT)
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