Prudential Say New Business Life Profits Up by 17%

Prudential issued a statement to investors today that life insurance new business profit rose 17% in the first nine months of the year, reflecting higher sales and more favourable economic conditions.

In a statement via the London Stock Exchange, the company said it continues to benefit from “powerful and enduring demand drivers” and its established platforms in Asia, the US, and the UK and Europe, with new business profit of £2.47bn.

Meanwhile, new business profit in Asia was up 15% to £1.62bn in the first nine months of the year thanks to higher sales volumes, a richer health and protection mix and the overall beneficial effect of higher interest rates.

Prudential said the performance remains broad-based, with at least double-digit growth in seven countries, including China, Hong Kong and Singapore.

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