Prudential (LON:PRU)

QUOTE AND NEWS
Jutia Group  Mar 3  Comment 
[Business Wire] - Prudential Agricultural Investments announced today the addition of three principals. Shane Hutchinson and Johan Dam have joined the agricultural lending team, and Seth Palmer has joined the timber lending team. Read more on...
Mondo Visione  Mar 3  Comment 
Thank you for inviting me to speak to you today. As many of you will know I have been covering as Executive Director of Insurance, in addition to my responsibilities as Deputy Head of the PRA, since August last year whilst a search was made for a...
Forbes  Feb 28  Comment 
Women of Generation X are less confident in their financial futures than Millennials or Baby Boomers, according to a study on women and their money by Prudential.
The Economic Times  Feb 28  Comment 
"The revenue numbers over the last four-five years always looked over-budgeted. But this time, the revenue numbers look pretty reasonable."
Mondo Visione  Feb 27  Comment 
26 February 2015 As part of its remit to scrutinise the work of the Prudential Regulation Authority, the Treasury Committee takes evidence from Andrew Bailey, Deputy Governor of the Bank of England, and external members of the PRA's...
The Hindu Business Line  Feb 25  Comment 
Private insurer ICICI Prudential Life Insurance today said it has crossed the Rs 1-trillion mark in Assets Under Management (AUM). “We are delighted to have achieved this milestone. The A...
Benzinga  Feb 23  Comment 
Prudential Real Estate Investors announced today the acquisition of 55 East Monroe, a 49-story Class A office property in Chicago, on behalf of institutional investors. GlenStar Properties, which has managed the property since 2005, will...
MarketWatch  Feb 18  Comment 
Regulators on Wednesday gave three of the biggest U.S. financial firms, American International Group Inc., , General Electric Capital Corp. and Prudential Financial Inc. an additional five months to submit their living-will plans. The plans,...
Jutia Group  Feb 18  Comment 
[Business Wire] - Prudential Mortgage Capital Company has closed a $228 million refinance of CBRE Dutch Office Fund World Trade Centre, Amsterdam, . Read more on this. Prudential Financial, Inc. (PRU), currently valued at $36.80B, opened at...
The Economic Times  Feb 16  Comment 
"Historically, we have seen the markets rallying before the Budget. Post-Budget, more often than not, we see some kind of corrections coming through."




 
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
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