- 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.
- - Read this at SGinvestors.io -
- According to management, margin was improving in 2Q23 as health & production products ratio improved to 56% of total policy counts.
China.
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
Greater China Research Team UOB Kay Hian Research | https://research.uobkayhian.com/ 2023-08-31
Previous report by UOB:
2023-03-16 Prudential - 2022 Results Below Expectations, Better Recovery Ahead.
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