QUOTE AND NEWS
The Economic Times  Sep 19  Comment 
Expect the much-awaited IPO of ICICI Prudential Life Insurance to create all the buzz on Dalal Street.
The Hindu Business Line  Sep 18  Comment 
The asking price is reasonable, considering the deals that have taken place in the past
The Hindu Business Line  Sep 17  Comment 
ICICI Prudential Life Insurance Co Ltd on Friday raised ₹1,635.33 crore from anchor investors ahead of its initial public offering that opens for subscription on Monday. ICICI Prudential Life - the...
Reuters  Sep 16  Comment 
ICICI Prudential Life Insurance Co Ltd, which is due to launch on Monday India's biggest initial public offering of shares in six years, is raising 16.35 billion rupees ($243.7 million) by selling shares to 38 anchor investors as part of the IPO.
The Economic Times  Sep 15  Comment 
ICICI Prudential ­ a collaboration of ICICI Bank and a UK-based subsidiary of the Prudential Group -was the biggest private sector life insurer in India in FY16.
The Hindu Business Line  Sep 14  Comment 
In talks with payments and small finance banks, says Executive Director Nanda
The Hindu Business Line  Sep 11  Comment 
To tap the upbeat investor sentiment, three firms — ICICI Prudential Life Insurance Company, L&T Technology Services and GNA Axles — will hit the markets this month to raise over Rs 7,000 crore t...
The Hindu Business Line  Sep 9  Comment 
Issue opens for subscription on Sept 19
Reuters  Sep 8  Comment 
South Korea's Mirae Asset Life Insurance Co Ltd said in a regulatory filing on Friday it had submitted a final bid for PCA Life Insurance Co Ltd, an unlisted South Korean unit of...
Reuters  Sep 8  Comment 
ICICI Prudential Life Insurance Co Ltd's initial public offering of shares will open on September 19, parent ICICI Bank said on Thursday, seeking to raise as much as $909 million in the biggest local listing in six years.




 
TOP CONTRIBUTORS

Prudential plc (LON: PRU) is a UK-based financial services company with operations in the United Kingdom, the United States and Asia. It operates in the United Kingdom through its subsidiaries, primarily The Prudential Assurance Company Limited (PAC), Prudential Annuities Limited (PAL), Prudential Retirement Income Limited (PRIL) and M&G Investment Management Limited.[1] In the United States, Prudential’s main subsidiary is Jackson National Life Insurance Company.[1] The company also has operations in Hong Kong, Malaysia, Singapore, Indonesia and other Asian countries.[1]

Prudential has two segments: insurance operations and asset management operations. Prudential offers a range of retail financial products and services, and asset management services. The retail financial products and services include life insurance, pensions and annuities, as well as collective investment schemes.[1]

Business Growth

Prudential's new business profit was up 25% to £2.0 billion from £1.6 billion in 2009.[2] IFRS operating profit based on long-term investment returns increased 24% to £1.9 billion from £1.6 billion in 2009.[2]

Sales of Asian life insurance in 2010 were up 23% to £3.5 billion and margins increased to 58% from 57% in 2009.[2] Performance in Asia was driven by Indonesia (up 49%), Malaysia (up 40%), Hong Kong (up 19%) and Singapore (up 37%).[2]

In the U.S., sales of life insurance totaled £1.2 billion compared to £912 million in 2009, with profits rising 15% to £761 million.[2] Prudential took advantage of the extreme dislocation prevalent in the corporate bond market. Jackson has capitalized on the weakened competitive environment in the U.S. life insurance market and has emerged as one of the top three players in the variable annuity market in terms of sales and number two in terms of net flows.

In the UK, Prudential delivered total retail and bulk annuity sales of £820 million compared to £723 million in 2009 and new business profit of £365 million compared to £230 million in 2009.[2]

Trends and Forces

Growing demand for insurance and financial services in emerging Asian countries benefits Prudential

In recent years, Asia has been Prudential's main source of financial growth. The emerging markets of South-East Asia such as Indonesia, Malaysia, Vietnam, the Philippines, Thailand, Hong Kong, and Singapore are particularly attractive. Distribution remains critical to Prudential's business in Asia, with its unique combination of proprietary agency distribution and bank partnerships continuing to deliver excellent results. Prudential is poised to take advantage of the growing wealth of the Asian middle class.[2]

The retirement of the Baby boomer generation represents a growth opportunity for Prudential's U.S. operations

In the United States, 78 million "baby boomers" are set to retire. Prudential is poised to benefit by offering retirement products, such as annuities, to these retirees.[2]

In the U.S., Prudential has maintained its focus on value over sales volume growth, ensuring sales are delivered at highly profitable margin levels. Additionally, the flight to quality during the 2008 Financial Crisis has allowed Prudential's U.S. business to increase sales volumes and market share. Prudential plans to increase its number of licensed agents in the U.S. and registered representatives to more than 130,000.[2]

Competition

Prudential, which competes primarily in the U.S., UK, and Asian markets, competes with large insurance and financial services companies from across the world such as MetLife (MET) and Lloyds Banking Group (LYG).

References

  1. 1.0 1.1 1.2 1.3 Google Finance: LON: PRU
  2. 2.0 2.1 2.2 2.3 2.4 2.5 2.6 2.7 2.8 Prudential plc Annual Report 2010
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki