Prudential PLC's Move to Traditional Embedded Value Should Restore Stability, Growth -- Market Talk

Dow Jones09-02

1355 GMT - Prudential PLC's move to traditional embedded value, or TEV, should provide an anchor for its valuation and reduce volatility, Bank of America Global Research says in a research note. The insurer is listening to its investors and made the switch from European embedded value, or EEV, aligning with its Asian peers, analysts Andrew Sinclair and David Barma write. TEV will remove need for 'ex economics' comparisons, adding credibility to new business profit targets and on-year comparisons. Clean on-year growth should be seen from 3Q onward, after growth was masked in recent years by spinoffs, the coronavirus, protests and market resets. "A return to steady new business growth can drive re-rating from 2H," they write. Shares in London are down 27% year to date.(elena.vardon@wsj.com)

(END) Dow Jones Newswires

September 02, 2024 09:55 ET (13:55 GMT)

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