Prudential - UOB Kay Hian 2023-08-31: Outstanding Growth In New Business Profit

• PICC P&C, Ping An and Prudential delivered impressive interim results, as reflected by strong growth in their premium income and new business value. In particular, the robust demand for saving products from China customers boosted the life insurers’ new business value with double-digit growth.

Prudential's NBP growth in line.

• - Read this at SGinvestors.io -
• Annual premium equivalent (APE) sales also soared by 37% to US$3,027m. NBP margin declined by 1.6ppt to 49.2%, as the updated economic assumptions impacted the margin by 5ppt.

Hong Kong.

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• According to management, margin was improving in 2Q23 as health & production products ratio improved to 56% of total policy counts.

China.

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Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.

Read also UOB's most recent report:
2025-03-21 Prudential - Solid 2024 Results; Enhancing Shareholder Returns.

Previous report by UOB:
2024-03-21 Prudential - Strong Beat In Nbp Growth On Significant Margin Improvement In 2h23.

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