Prudential reported third quarter annual premium equivalent (APE) sales of $1.7bn, up 10% ignoring currency moves. New business profit rose 13% to $705mn.
New business margins improved to 41%, reflecting a shift toward higher-quality products.
Eastspring’s assets under management rose to $286.4bn, up from $274.9bn at the half-year mark, helped by net inflows and market gains.
The group remains on track to complete its $2bn share buyback by year-end, with $1.75bn already deployed.
The shares were broadly flat on the day.
Our view
HL view to follow.
Prudential key facts
All ratios are sourced from LSEG Datastream, based on previous day’s closing values. Please remember yields are variable and not a reliable indicator of future income. Keep in mind key figures shouldn’t be looked at on their own – it’s important to understand the big picture.
This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by LSEG. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Investments rise and fall in value so investors could make a loss.
This article is not advice or a recommendation to buy, sell or hold any investment. No view is given on the present or future value or price of any investment, and investors should form their own view on any proposed investment.