Insurance firm Prudential posts 1% rise in third-quarter new business profit
Yesterday 22:20
Insurance firm Prudential posts 1% rise in third-quarter new business profit Nov 5 (Reuters) - Asia-focused insurer Prudential 2378.HK PRU.L reported a 1% rise in third-quarter new business profit on Thursday, as repricing actions in Hong Kong lifted margins and helped offset a slowdown in its mainland China business.
The London and Hong Kong listed insurer's new business profit, reflecting the lifetime profits expected from policies sold, rose to $709 million from $702 million a year earlier. The figure was calculated on a traditional embedded value and constant exchange rate basis.
(Reporting by Shruti Agarwal and Kumar Tanishk in Bengaluru; Editing by Leroy Leo)
((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk;))