|Bid||1,410.00 x 0|
|Ask||1,480.00 x 0|
|Day's Range||1,412.75 - 1,448.50|
|52 Week Range||1,325.00 - 1,819.50|
|Beta (3Y Monthly)||1.00|
|PE Ratio (TTM)||11.46|
|Forward Dividend & Yield||0.50 (3.51%)|
|1y Target Est||2,079.18|
It looks like Prudential plc (LON:PRU) is about to go ex-dividend in the next 3 days. You will need to purchase shares...
A High Court judge in the UK has taken the unprecedented step of blocking the proposed transfer of £12bn of annuities from Prudential to Rothesay Life, raising questions about the potential for other big life insurance deals. Annuities are pension products that often last for decades. Mr Justice Snowden said that when buying them, customers might have chosen Prudential because of “its age, its established reputation and the financial support which it would be likely to receive from the accumulated resources of the wider Prudential group”.
Prudential, Britain’s biggest insurance company, is to split itself up later this year, pushing ahead with a radical restructuring despite market volatility caused by Brexit, the US-China trade dispute and the Hong Kong protests. from the rest of the group have been under way since March last year, when the company announced M&G Prudential would be hived off from the US and Asian businesses. “We expect to complete the demerger of M&G Prudential in the fourth quarter of 2019, and preparations are complete for Prudential plc’s move to group-wide supervision by the Hong Kong Insurance Authority,” he said.
London-listed insurer Prudential has given itself an end-of-year deadline for demerging its UK operations. Chief executive Mike Wells will helm an “Asian-led” business. In Prudential’s case, the shares should attract a premium worthy of fast-growing Asian operations.
Bankers say that because Prudential is not raising new money, the prospect of Brexit-induced stock market turmoil is not as important as it would be for an IPO or an M&A deal. After the split, existing investors will own shares in both Prudential plc and M&GPrudential. of Prudential’s UK insurance business with M&G Investments, one of Britain’s best-known fund managers, it has struggled to articulate its identity.
The latest earnings update Prudential plc (LON:PRU) released in March 2019 confirmed that the company benefited from a...
(Bloomberg) -- Jonathan Sudharta was a brawl-prone, unremarkable student who played in a rock band. Friends of his father, a self-made tycoon, feared he’d one day take over the family medical business and ruin it.Instead, in 2016, at the age of 34, Sudharta co-founded a startup that attracted the interest of the Bill & Melinda Gates Foundation and today becomes the organization’s first ever equity investment in an online health-care platform.His creation, Halodoc, is trying to address one of the biggest problems in medicine: In a world with too few doctors and hundreds of millions of people without proper access to clinics, how can people get the diagnosis and drugs they need quickly and cheaply?“Someone is going to solve patient-centric, 21st century, primary health care and we think that Halodoc has a huge potential to do that,” said David Rossow, London-based founding partner of the Gates Foundation’s Strategic Investment Fund.Microsoft Corp.’s co-founder has invested heavily to fight specific diseases, including a pledge of $1 billion to end malaria. Yet the challenge for much of the developing world is how to get health care day to day, not just for a single illness. About 40 million people use Halodoc’s app or website to connect with more than 22,000 licensed doctors in Indonesia for an online consultation. Sudharta said in an interview he is aiming to expand that by 2020 to 100 million people -- more than one in three Indonesians. Once they have a diagnosis, patients can buy medicine through the app from one of more than 1,000 pharmacies and get it speedily delivered by motorcycle or scooter.Halodoc, valued at about $350 million according to people familiar with its accounts, also offers home blood and urine tests by a visiting medical attendant, with the result sent via the app. Patients can use the website if needed to book face-to-face appointments with a doctor at a hospital.Few places could get more benefit from a new mobile-based health care system than Indonesia. With a population of 260 million spread across more than 17,000 islands, it has only two physicians for every 10,000 people, behind the 8 in India, and 26 in the U.S., according to the World Bank.Despite efforts by the government, infrastructure and services remain largely overwhelmed, with traffic snarls in major cities like Jakarta and public facilities often operating beyond capacity. People can make a living by queuing for others.A 20-minute drive from Halodoc’s offices, in the Apotik Mahakam pharmacy, customers are either elderly or deliverymen waiting to whisk orders on scooters through the narrow alleys and clogged arteries of the capital. Even with peak-hour traffic crawling at an average 6.2 miles an hour, Halodoc customers can get their pills in a little over half an hour.In the nerve center of the Halodoc operation in central Jakarta one morning this month, some 400 young employees worked in the kind of featureless, chaotic, laptop-filled rooms that are the hallmark of a tech startup. Men in T-shirts and women in headscarves tapped away at keyboards, surrounded by piles of cardboard boxes, medicine delivery bags, flipcharts and stacks of bubble-wrapped chairs that were awaiting a move to larger premises. Below a giant pinboard of staff photos, an unused ping-pong table presented a plateful of snacks.In the next room, half a dozen doctors in white coats sat round a table diagnosing the populace via laptops and mobile phones.The face of a young man with round spectacles and a scar on his right cheek appeared on the phone of Dr. Alia Kusuma, one of the front line GPs. He had fallen from his motorcycle a month ago and was worried about the lasting effect. After a short consultation, Kusuma referred him to a laser treatment specialist.Across the table, Dr. Devi Anneta was following up on the progress of a 51-year-old man who had been hospitalized for high cholesterol, hypertension and joint problems.Halodoc covers the cost of the medical advice from its capital and from commissions on drug sales, lab tests and hospital referrals. A prominent, crossed-out label on the app shows that it will eventually charge upwards of 20,000 rupiah ($1.40) per consultation.Halodoc’s rise reflects the pace of change in Indonesia, the world’s fastest-growing internet economy. Sudharta’s father founded a pharmaceutical materials trading house in 1975 that’s now called Mensa Group and has businesses from making drug ingredients to supplying medical equipment to hospitals. The conglomerate gave the young Sudharta connections to doctors, hospitals and pharmacies, and contacts at the health regulator with whom he could discuss new ideas. While his father’s company didn’t fund Halodoc directly, the startup rents offices in one of Mensa’s buildings.One of Sudharta’s early encounters with medical care was at 13, when he and some school friends got into a fight with kids at a senior school and were beaten mercilessly. The pugilistic boy was sent to the prestigious Hale School in Perth, Australia, before studying commerce at Curtin University, filling the time by playing bass in a band and producing films and concerts for Indonesian diaspora.Back in Indonesia he joined his father’s firm as a trainee, and was sent on his first day to the port with a stack of cash. His job was to hand out a 1,000 rupiah note bonus (about 10 U.S. cents) to each worker carrying a load of shipment.He was upset to see an elderly worker carrying a heavy load, and wanted to give him 5,000 rupiah, but the manager stopped him, saying his action would be detrimental for the company. When the old man wholeheartedly thanked him for the tiny tip, Sudharta realized how privileged he was. He vowed never to take it for granted again.“It was a big slap in my face,” Sudharta, now 37, said in a conference room with a broken red sofa in Halodoc’s offices in Jakarta. “That changed my life.”He went to see Ferry Soetikno, a successful second-generation scion who had expanded his family’s health-care business, PT Dexa Medica. Soetikno, 12 years his senior, told him: focus, start from the beginning and always measure your performance.Sudharta adopted the pseudonym Budi Jonathan to hide his identity and began as a junior medical representative at Mensa, often waiting until past midnight for a chance to pitch drugs to overworked doctors. Over the next 13 years he rose through the company ranks.He didn’t think of starting his own medical business, but would talk to friends about the gaps he saw in Indonesia’s system. One of those friends, Gojek co-founder Nadiem Makarim, pulled him aside one day and said: “‘Why don’t you do it yourself? A startup. Fundraise. Do it properly.’”Gojek, Indonesia’s answer to Uber Technologies Inc., went on to become the country’s most valuable startup, with ride-hailing, food delivery and payments services across the country and now spreading elsewhere in Southeast Asia. It also became a key strategic backer for Halodoc, integrating the app in 2017 into its platform.Makarim’s advice was to focus on helping people where they felt the greatest pain, and Sudharta thought of the countless times he’d seen patients camped out in hospitals to see a doctor for a few minutes and then wait another two hours to get medicine.A year after Halodoc started, Sudharta had another pivotal introduction when he was part of a group of young leaders invited to a lunch with Bill Gates in Seattle. The invitees were asked to dress formally. Sudharta arrived in a business shirt, but removed it just before the meeting with Gates to reveal a red T-shirt emblazoned with Halodoc’s logo.Sudharta left the meeting with the message that if you’re lucky enough to be able to change the world, do good, stay on course and don’t get distracted by the financial rewards.Meanwhile, the Gates’ foundation, which distributes billions of dollars in grants to improve living conditions in developing countries, had been increasingly looking to make direct investments in companies that could help advance its goals. One of its target countries was Indonesia and the investment arm zeroed in on Halodoc.The foundation is joining Halodoc’s so-called extended Series B round of funding with other new contributors Prudential Plc and Allianz SE. They will add to the $65 million Halodoc secured from UOB Venture Management, Singtel Innov8 and Korea Investment Partners in March. Halodoc is only one of dozens of health-tech startups developing apps. Gojek rival Grab has a joint venture with China’s Ping An Good Doctor to provide online services in Southeast Asia, while Indonesian rivals include Alodoktor.What helps Halodoc stand out is the breadth of Sudharta’s vision to cover all aspects of the patient’s experience, all wrapped together with digital payment, said Shane Chesson, founding partner at Singapore-based Openspace Ventures and an early backer of Halodoc.“In rapid time, Haldoc has moved to be one of the best at product development in Indonesia,” he said. For the Gates Foundation, Halodoc is part of its belief that technology can improve access to quality health-care for low-income groups, said the strategic investment fund’s Rossow.“Whether it’s a midwife on a remote island or a pharmacy in a major city or a hospital system, Halodoc’s approach of closing that online-to-offline loop is rare,” he said. “There is huge opportunity for Indonesia to lead the world with some of these innovations.”To contact the authors of this story: Yoolim Lee in Singapore at email@example.comDavid Ramli in Singapore at firstname.lastname@example.orgTo contact the editor responsible for this story: Adam Majendie at email@example.com, Peter ElstromFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Jackson National Life Insurance Company® (Jackson®) today announced several benefit updates to its family of variable annuities (VAs), including Perspective II and Perspective Advisory II. As part of this launch, Jackson introduced LifeGuard Freedom Accelerator and Accelerator DB — two new benefits available through the Perspective family of VAs. LifeGuard Freedom Accelerator provides the potential for consumers to grow their income by offering higher levels of guaranteed withdrawals for each year they defer taking income.
(Bloomberg) -- Prudential Plc is vying with Hong Kong billionaire Richard Li’s FWD Group to become an insurance-distribution partner of Bank for Foreign Trade of Vietnam JSC, the nation’s biggest lender by market value, according to people familiar with the matter.Prudential and FWD are among firms seeking to gain exclusive rights to distribute life insurance products through Vietcombank’s branch network, said the people, asking not to be identified because the matter is private. Vietcombank is expected to receive an initial payment of about $400 million and could get more based on the performance of the business, the people said.Credit Suisse Group AG has been advising Vietcombank on finding a new insurance-distribution partner, Bloomberg News first reported in June last year. A deal could be worth as much as $1 billion over the life of the contract, depending on how it is structured, the people said at the time.Negotiations are still ongoing and no final decision has been made, the people said. Other bidders could still emerge, they said. Representatives for Prudential, FWD and Vietcombank declined to comment.Insurers have been attracted to a growing middle class in Vietnam. Bank for Investment & Development of Vietnam is also exploring selling its stake in a life insurance joint venture with MetLife Inc., other people with knowledge of the matter have said.Hanoi-based Vietcombank employs more than 15,000 staff, with over 500 outlets in the country’s capital and aboard, according to its website. In 2007, the bank formed a joint venture with BNP Paribas SA’s life insurance unit Cardif and Vietnamese lender SeABank to develop insurance products. Vietcombank has set a goal to become the nation’s No. 1 bank in 2020, its website shows.\--With assistance from Bei Hu.To contact the reporters on this story: Joyce Koh in Singapore at firstname.lastname@example.org;Manuel Baigorri in Hong Kong at email@example.com;Nguyen Dieu Tu Uyen in Hanoi at firstname.lastname@example.orgTo contact the editors responsible for this story: Fion Li at email@example.com, Katrina NicholasFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Prudential Public Limited Company and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
If you want to know who really controls Prudential plc (LON:PRU), then you'll have to look at the makeup of its share...
Jackson National Life Insurance Company® (Jackson®) today announced the launch of Jackson RateProtectorSM, a single premium, multi-year guaranteed fixed annuity. Jackson RateProtector offers consumers the opportunity to protect and grow their assets through guaranteed interest rates that will not fluctuate during a selected time period, combined with the ability to defer taxes on any earnings until money is withdrawn. Alison Reed, executive vice president of Operations for Jackson National Life Distributors LLC (JNLD), the sales and marketing arm of Jackson, said Jackson RateProtector provides consumers access to a product that consistently grows every year, assuming they do not take withdrawals.
Dividend paying stocks like Prudential plc (LON:PRU) tend to be popular with investors, and for good reason - some...
Jackson National Life Insurance Company® (“Jackson®”) announced that it is teaming up with TD Ameritrade Institutional to bring the carrier’s most popular advisory annuity product – Perspective Advisory IISM – to the independent RIA channel. Since its launch in 2017, Jackson’s Perspective Advisory II has been one of the leading advisory variable annuities. The product’s many rider options allow individuals to customize their choices to meet unique needs and goals, while investment freedom gives RIAs the ability to work with their clients to build a diversified portfolio that is customized to meet their clients’ individual priorities and preferences, rather than locking them into restrictive allocation models.
For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...
By Muvija M and Yadarisa Shabong (Reuters) - Rallying banks and mining stocks lifted Britain's FTSE 100 on Thursday, but weak earnings hit luxury brand Burberry (BRBY.L) and Thomas Cook (TCG.L) was floored ...
Aug.07 -- Prudential PLC Chief Executive Officer Michael Wells discusses the U.K. insurer's new 'Pulse' digital health app it's introducing in Malaysia, and the company's strategy for the Asia. He speaks with Paul Allen and Sophie Kamaruddin on "Bloomberg Daybreak: Asia."