|Bid||26.95 x 2200|
|Ask||27.02 x 1100|
|Day's Range||26.95 - 27.14|
|52 Week Range||25.11 - 27.30|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||20.72|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Prudential (PRU.L), Britain's largest insurer, said new business profit from its life insurance operations rose 17 percent in the first nine months of the year, driven by another robust performance in Asia. After a tough year for many asset managers, however, Prudential said its two fund management units, M&G Investments and Asia-focused Eastspring, had both posted net outflows of external client money. "A key positive in Prudential's trading update is a move up in Asian volume growth," said KBW analyst Greig Paterson in a note to clients, flagging an 'outperform' rating and 2,100 pence price target, although he called the outflows "disappointing".
The company said new business profit in Asia, where a burgeoning middle class has boosted demand for insurance, rose 15 percent to 1.76 billion pounds. The life insurer, which has a market value of around 42 billion pounds, is in the process of demerging that will see the UK and European insurance and asset management units of the 170-year-old company split off into a separate company. The planned demerger was on track, Prudential said in the business performance update ahead of an investor day event in Singapore.
Prudential, Britain's largest insurer, has been expanding into China for years. "We have licenses in about 70 percent of the economic footprint now with China, so our biggest challenge is growing into that footprint quickly," Mike Wells, Prudential Group CEO told CNBC. China is committed to opening up its insurance sector just as it's indicated, but it will be on its own time, said Mike Wells, Prudential Group CEO on Tuesday.
Eastspring Investments, Prudential Plc's (PRU.L) Asian asset management business, said on Tuesday it had received a licence to set up a wholly-owned unit in China to manage non-retail funds in the world's second-largest economy. The company has also registered the private fund management unit with the Asset Management Association of China (AMAC), it said in a statement, a prerequisite before a foreign firm is allowed to raise capital in that country. The fund management licence will allow Eastspring to offer wealthy individuals and institutional investors investment products covering equities, fixed income and multi-asset segments in the onshore market.
(Reuters) - Britain's largest listed insurer Prudential Plc (PRU.L) said it had appointed JP Morgan's (JPM.N) Asia asset management business boss Michael Falcon to lead its North American business unit, ...
Britain's largest listed insurer Prudential Plc is eager to make acquisitions in Asia and is eyeing distribution partnerships with banks in countries including Indonesia and Vietnam to boost growth, its Asia chief executive said. The plans underscore Asia's key role as a profit driver for the insurer, which is in the process of splitting itself into two. Higher sales in markets including China, Hong Kong, India, and Malaysia are guiding Prudential towards its goal of doubling the Asian business in size every five to seven years.
(Reuters) - Britain's largest listed insurer, Prudential Plc (PRU.L) on Monday appointed Mike Evans as chair of M&G Prudential, its UK and Europe life insurance and asset management unit, as it prepares ...
Prudential Plc’s Asian asset management arm has hired former Goldman Sachs Group Inc. dealmaker Edmund Lim, who previously led the bank’s Southeast Asia financial institutions group.
Prudential is going straight to consumers with its insurance and investment products for the first time in its 143-year history, a move that follows rivals and startups which are already well established in the field. The direct-to-consumer service marks a sea change for Newark, New Jersey-based Prudential, the largest U.S. life insurance company by assets, managing $1.4 trillion, according to a filing. Prudential is also one the oldest U.S. insurance and investment companies, which has traditionally sold its products through a large network of advisers as well as employer-sponsored insurance and retirement plans.
Have you been keeping an eye on Prudential plc’s (LON:PRU) upcoming dividend of UK£0.16 per share payable on the 27 September 2018? Then you only have 2 days left beforeRead More...
Insurer Prudential (PRU.L) plans to consolidate all non-British European insurance business in its Dublin subsidiary as part of preparations for Britain's exit from the European Union, a letter to clients seen by Reuters showed. Policies from Malta, France, Germany and Ireland would all transfer to its Irish company, Prudential International Assurance PLC (PIA), from the UK-based Prudential Assurance Company Limited (PAC). Business currently being written through a Polish branch of PAC would transfer to a new Polish branch of PIA, the company wrote.
Ping An has evaluated acquiring the U.K. insurer's fast-growing business in the region, Manuel Baigorri, Ruth David, Steven Yang and Zhang Dingmin of Bloomberg News wrote Wednesday. The Shenzhen-based firm has gone so far as to talk to banks about financing a deal that, including Prudential's Eastspring asset management, could be valued at $51.5 billion, analysts at Panmure Gordon & Co. reckon. Prudential Chief Executive Officer Mike Wells has made no secret of its love for Asia over a low-growth, mature U.K. business.
Insurer Prudential (PRU.L) is unlikely to split into two before late 2019, it said on Wednesday as growth in Asia helped it beat first-half profit forecasts. Britain's largest listed insurer said in March it planned to demerge M&G Prudential, its UK and Europe life insurance and asset management business, into a separate business with a London listing. The remaining Prudential business will focus on Asia and the United States.
Aug 8 (Reuters) - China's most valuable insurer Ping An Insurance Group is looking to buy Prudential Plc's Asian business, Bloomberg reported, citing people familiar with the matter. Ping An has checked ...
Ping An Insurance (Group) Co. is considering buying Prudential Plc’s Asia business, people familiar with the matter said, a deal that would reshape Asia’s booming insurance industry and mark the biggest-ever Chinese acquisition. Potential buyers may well have to pay a premium to that to gain control, Cornes said.
Let’s talk about the popular Prudential plc (LON:PRU). The company’s shares saw significant share price volatility over the past couple of months on the LSE, rising to the highs ofRead More...
Prudential Plc’s focus on Asia is paying off and its business in the region is drawing interest from competitors. Ping An Insurance (Group) Co. has evaluated acquiring Prudential Plc’s Asia business and has sounded out the Chinese government about whether it would be supportive of a deal, Bloomberg News reported earlier on Wednesday. Chief Executive Officer Mike Wells has previously announced plans to split the insurer into two businesses to take greater advantage of potential growth in Asia, which generates about a third of its earnings and where new demand for insurance is strongest.
Yahoo Finance's Jared Blikre joins Seana Smith from the floor of the New York Stock Exchange to discuss the latest market moves.