Prudential PLC's 3Q New Business Profit Likely Rose

Dow Jones10-21 13:58

0558 GMT - Prudential PLC's new business profit likely rose in 3Q on growth in most markets, say Citi analysts in a note. They project an 8.1% increase on the year on an annual equivalent rate basis. The insurer's 3Q business activity in Hong Kong likely remained broadly consistent with 1H trends. The fundamental demand drivers for mainland Chinese customers buying Hong Kong policies were largely unchanged, while local customer demand remained decent. Markets such as Malaysia, Thailand and India also likely bolstered its new business profit. These likely offset a high base for Prudential PLC's mainland China segment, they say. Citi keeps a buy rating and 14.00 pound sterling target price for the London-listed stock. Shares last closed at 8.886 pounds.

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