Prudential PLC's Stronger New Business Profit Should Be Well-Received -- Market Talk

Dow Jones11-06

0642 GMT - Prudential PLC's better-than-expected new business profit, which was driven by improvements at its Chinese mainland joint venture CPL, Singapore, and Indonesia should be taken well, Citi says in a research note after the insurance and investment business posted its nine-month update. The group backed its new business growth view for the year, expecting 9% to 13% growth at constant 2023 economics. Prudential also reported annual premium equivalent sales that were broadly in line with Citi's estimates, analysts Alexander Evans and Michelle Ma write. "A $176 million cash injection into CPL...should not come as a surprise," they add. (elena.vardon@wsj.com)

(END) Dow Jones Newswires

November 06, 2024 01:42 ET (06:42 GMT)

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Prudential also reported annual premium equivalent sales that were broadly in line with Citi's estimates, analysts Alexander Evans and Michelle Ma write. \"A $176 million cash injection into CPL...should not come as a surprise,\" they add. 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