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6h ago

Prudential Lifts H1 New‑Business Profit 12% and Adds $1.1 Billion Buyback

Management describes an inflection in capital generation, enabling higher dividends plus the return of potential IPO proceeds to investors.

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Overview

  • New business profit rose to $1.26 billion for the first half, up from $1.12 billion a year earlier on stronger sales in key Asian markets.
  • The insurer announced additional share repurchases of $500 million in 2026 and $600 million in 2027, on top of an ongoing $2 billion programme.
  • An interim dividend of 7.71 cents per share was declared, with guidance for more than 10% annual dividend growth through fiscal 2027.
  • Performance was led by Hong Kong and Indonesia, with Hong Kong recording 13% APE sales growth at constant exchange rates.
  • Prudential plans to return initial net proceeds from a potential IPO of its 49%-owned ICICI Prudential Asset Management, for which a draft prospectus filed in July contemplates an offer for sale of up to 10%.