Prudential Nine-Month Life Insurance New Business Profit Rose 17%
November 16 2017 - 2:06AM
Dow Jones News
By Ian Walker
Prudential PLC (PRU.LN) said Thursday that life-insurance
new-business profit for the first nine months of the year increased
17% to 2.47 billion pounds ($3.26 million), reflecting higher sales
and more favorable economics.
It added that the group continues to benefit from powerful and
enduring demand drivers and its established platforms in Asia, the
U.S., and the U.K. and Europe.
In asset management, both M&G Prudential and Eastspring have
delivered a positive performance, with combined third-party retail
and institutional net inflows of GBP12.8 billion, it said. This
compares with net outflows of GBP8.0 billion during the same period
in 2016.
The estimated group shareholder Solvency II surplus--a measure
of financial stability--at Sept. 30 was GBP12.8 billion, equivalent
to a cover ratio of 201% compared with GBP12.5 billion and a cover
ratio of 201% on Dec. 31, 2016, Prudential said.
Prudential added that its businesses are well placed for
long-term growth and the continued delivery of value for both
customers and shareholders.
Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
November 16, 2017 01:51 ET (06:51 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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