Prudential Group announces 2023 Annual Financial Report – Continued strong growth
(Baonghean.vn) - Recently, on March 20, 2024, Prudential Financial Group (“Prudential”; HKEX: 2378; LSE: PRU)) officially announced its 2023 Annual Financial Report.
The annual financial statements focus on key financial ratios, respectively at constant (and actual) exchange rates, as follows:
·Profit from new mining operationsincreased by 45% at constant exchange rates (43% at current rates) to USD 3,125 million. Excluding the impact of interest rates and economic fluctuations, profit from new mining activities increased by 47% (45%).
·Excessallocation from operating activitiescreated fromvalid insurance contractand asset management activities amounted to USD 2,740 million. In 2022, this figure was USD 2,725 million (USD 2,760 million).
·Profitadjust fromworkbusinessreached 2,893 million USD - up 8% (6%).
·Equityaccording to standardsEEVup 7% to $45.3 billion, or 1,643 cents per share, on an annualized basis.
·Capital surplusaccording to the frameGWS (Group-worldwide supervision) compared to GPCR (Group Prescribed Capital Requirement) is 16.1 billion USD, equivalent tosolvency ratio295% (calculated as of December 31, 2022 is 307%).
·Second interim dividendat 14.21 cents per share and 2023 dividend at 20.47 cents per share - up 9%.
GrandfatherAnil Wadhwani – General DirectorGroupPrudentialsaid:"This is a very impressive set of business results operating in a challenging macroeconomic context, withoperating profitexploitnewincreased by 45% thanks to our focus and relentless efforts in the Asian and African markets. These results not only demonstrate our effective operations in both the agency and bancassurance channels, but also affirm Prudential's leading position in many key markets."
“Six months into our new strategy, it is encouraging to see early successes in enhancing customer experience, increasing the use of technology to support distribution and transforming our health business model. Prudential has a talented senior leadership team in these areas and is continuing to add talent in key markets and invest in capacity building in line with our strategic priorities.”
“We have delivered strong financial and operational results in 2023, while investing in new businesses, enhancing core capabilities and expanding distribution. Sales have continued to grow in the first two months of 2024. With our continued focus on executing our strategy, we are increasingly confident of achieving our financial and other strategic targets by 2027 and driving value creation for our shareholders,” he added.
View full reporthere.
About Prudential Corporation
Prudential plc provides life, health and wealth management solutions in 24 markets across Asia and Africa. Prudential's mission is to be the most trusted companion and protector for today and future generations by providing simple and accessible financial and health solutions. The Group is primarily listed on the Hong Kong Stock Exchange (stock code: 2378) and the London Stock Exchange (stock code: PRU). It also has a secondary listing on the Singapore Stock Exchange (stock code: K6S) and is listed on the New York Stock Exchange (stock code: PUK) as an American Depositary Receipt. The Group is a component of the Hang Seng Composite Index and is also traded on the Shenzhen-Hong Kong Stock Connect and the Shanghai-Hong Kong Stock Connect.
Prudential Corporation operates independently and is not affiliated in any way with Prudential Financial, Inc., a company operating in the United States, or Prudential Assurance Company, a subsidiary of M&G plc incorporated in the United Kingdom.
