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last yr.

Prudential Reports Strong Financial Performance in 2023, Boosted by Policy Sales in Asia and Africa

The insurance giant's adjusted operating profits rose by 6% to $2.89 billion, with a significant increase in new business profit driven by the return of mainland China visitors to Hong Kong.

Overview

  • Prudential's strategy review and growth targets for 2027 show early progress, with increased confidence in achieving its financial and strategic objectives.
  • The return of mainland Chinese visitors to Hong Kong significantly boosted life insurance policy sales, contributing to a 45% increase in new business profit.
  • Eastspring, Prudential's investment management business, saw a 7% increase in funds under management, contributing to the company's financial success.
  • Prudential declared a 9% year-on-year increase in dividends, reflecting its strong financial health and commitment to shareholder value.
  • CEO Anil Wadhwani highlights the company's excellent financial and operational performance in a challenging macro environment, with continued sales growth in early 2024.