Prudential (LON:PRU)

QUOTE AND NEWS
The Hindu Business Line  Apr 18  Comment 
ICICI Prudential Asset Management Company has launched ICICI Prudential Dividend Yield Equity Fund, an open ended equity fund and the new fund offer period is from April 25 to May 9. ...
DailyFinance  Apr 16  Comment 
Muchos estadounidenses no sacan partido a todo el valor que el Seguro Social ofrece a través de sus beneficios, de acuerdo aldocumento oficial actualizado de Prudential titulado Estrategias innovadoras para ayudar a...
DailyFinance  Apr 10  Comment 
Michelle Crecca has been appointed Senior Vice President of Strategy and Chief Marketing Officer for Prudential Group Insurance, a business of Prudential Financial, Inc. (NYSE:PRU). In her newly created role, Crecca will be...
Mondo Visione  Apr 8  Comment 
The Financial Conduct Authority (FCA) Non-Executive Directors have appointed Simon Davis, a senior Commercial Litigation Partner at Clifford Chance, to conduct an independent inquiry into the handling of the FCA’s announcement of proposed...
The Australian  Apr 6  Comment 
FORMER Reserve Bank governor Ian Macfarlane has taken a pot shot at the prudential regulator.
guardian.co.uk  Apr 3  Comment 
City insider names insurer's leading bond fund manager Richard Woolnough, who was paid more than double his CEO in 2013 A relatively unknown fund manager has been revealed as the Prudential's mystery £17.5m-a-year man. The insurer's revelation...
The Hindu Business Line  Apr 3  Comment 
Investor-centric focus and investment performance have catapulted ICICI Prudential Asset Management Company to the number two position behind HDFC Mutual Fund. ICICI Prudential currently has an as...
Mondo Visione  Apr 2  Comment 
The Office of the Comptroller of the Currency today announced that Deputy Comptroller for Credit and Market Risk Darrin Benhart will co-chair the Task Force on Prudential Treatment of Assets of the Basel Committee on Bank Supervision. The task...
guardian.co.uk  Apr 1  Comment 
Shareholders at the insurer might understand the risks better if they knew which division was so reliant on one superstar Who earned £17.5m at Prudential last year? It wasn't a member of the board, since directors' rewards are published on a...
guardian.co.uk  Apr 1  Comment 
Top eight directors' pay for 2013 up sharply from £38m in 2012, with US boss Mike Wells receiving £11.7m in cash and shares An unidentified individual at Prudential received almost £17.5m last year, the insurance company said on Tuesday, in an...




 
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