QUOTE AND NEWS
Financial Times  May 18  Comment 
Tony Wilkey will be replaced by group finance director Nic Nicandrou
Forbes  May 16  Comment 
News and notes for Raw from the Prudential Center in New Jersey.
Financial Times  May 15  Comment 
Prudential’s Paul Manduca joins peer-to-peer group
The Hindu Business Line  May 4  Comment 
ICICI Prudential Life Insurance (ICICIPru Life), the country’s largest private life insurer by premium income and profits, wants its financial performance to be judged on the metric of ‘value of new b...
The Hindu Business Line  Apr 30  Comment 
Long-term investors could invest in this fund through a systematic investment plan
The Economic Times  Apr 26  Comment 
The protection which is an area which we have been focusing on a smaller base grew at 87 per cent and now constitutes about 3.9 per cent of our business, he said.
The Economic Times  Apr 25  Comment 
The company also recommended a final dividend of Rs 3.50 per equity share including special dividend of Rs 1.20 per equity share of face value of Rs 10 each.
The Economic Times  Apr 18  Comment 
Buy ICICI Prudential Life Insurance Company Ltd. at a price target of Rs 425.0 and a stop loss at Rs 390.0 from entry point
The Economic Times  Apr 13  Comment 
Prior to becoming Capital Small Finance Bank, it was operating as Capital Local Area Bank, which was the largest local area bank in the country.
Mondo Visione  Apr 10  Comment 
The 25% capital charge for property investments, required by EIOPA using the British property market as a reference, is overestimated. We show that the capital charge is only 9% when using a Euro zone index and 14% when using a French...




 
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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
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