Prudential plc Full Year 2023 Results: Continuing Strong Performance
- Written by Reporters
- New business profitup 45 per cent (43 per cent) to $3,125 million. Excluding the effect of interest rate and other economic movements, new business profit up 47 per cent (45 per cent)
- Operating free surplus generated from in-force insurance and asset management business of $2,740 million (2022: $2,725 million ($2,760 million))
- Adjusted operating profit up 8 per cent (6 per cent) to $2,893 million
- EEV shareholders' equity is up 7 per cent to $45.3 billion, equivalent to 1,643 cents per share, on an AER basis.
- GWS shareholder capital surplus over GPCR of $16.1 billion, equivalent to a cover ratio of 295 per cent (31 December 2022: 307 per cent)
- Second interim dividend of 14.21 cents per share, 20.47 cents per share for the full year, up 9 per cent
Summary financials | 2023 $m | 2022 $m | Change on AER basis | Change on CER basis |
New business profit | 3,125 | 2,184 | 43% | 45% |
Operating free surplus generated | 2,007 | 2,193 | (8)% | (8)% |
Operating free surplus generated from in-force insurance and asset management business | 2,740 | 2,760 | (1)% | 1% |
Adjusted operating profit | 2,893 | 2,722 | 6% | 8% |
IFRS profit (loss) after tax | 1,712 | (997) | n/a | n/a |
31 Dec 2023 | 31 Dec 2022 | |||
Total | Per share | Total | Per share | |
EEV shareholders' equity | $45.3bn | 1,643¢ | $42.2bn | 1,534¢ |
IFRS shareholders' equity | $17.8bn | 647¢ | $16.7bn | 608¢ |
Adjusted IFRS shareholders equity | $37.3bn | 1,356¢ | $35.2bn | 1,280¢ |
The issuer is solely responsible for the content of this announcement.
About Prudential plc
Prudential plc provides life and health insurance and asset management in 24 markets across Asia and Africa. Prudential's mission is to be the most trusted partner and protector for this generation and generations to come, by providing simple and accessible financial and health solutions. The business has dual primary listings on the Stock Exchange of Hong Kong (2378) and the London Stock Exchange (PRU). It also has a secondary listing on the Singapore Stock Exchange (K6S) and a listing on the New York Stock Exchange (PUK) in the form of American Depositary Receipts. It is a constituent of the Hang Seng Composite Index and is also included for trading in the Shenzhen-Hong Kong Stock Connect programme and the Shanghai-Hong Kong Stock Connect programme. Prudential is not affiliated in any manner with Prudential Financial, Inc. a company whose principal place of business is in the United States of America, nor with The Prudential Assurance Company Limited, a subsidiary of M&G plc, a company incorporated in the United Kingdom. https://www.prudentialplc.com/
Source https://www.media-outreach.com/news/hong-kong-sar/2024/03/20/286071/