Prudential posted a forecast-beating 17 percent rise in first-half operating profit on August 11, boosted by strong performances across its Asian, US and UK life and asset management businesses. In its first earnings update since Mike Wells took over as chief executive, Britain's biggest insurer said its operating profits jumped to 1.9 billion pounds, beating an average forecast of 1.74 billion from analysts polled by the company.
Total new business profit on an embedded value basis increased by 12 percent to 1.2 billion pounds, helping underpin a 10 percent rise in the firm's interim dividend to 12.31 pence a share.
Wells, who relocated to London from the company's US unit to take Prudential's top job in June, said the robust results demonstrated "disciplined execution" of the group's global growth strategy. Operating profit in its core growth market of Asia for life insurance and asset management also rose 17 percent to 632 million pounds, while its US unit, Jackson Life, saw an 11 percent increase to 834 million pounds.