Oriental delight

14 August 2019 By Christopher Thompson Follow @CGAThompson

Strong Asian growth propelled the London-listed insurer to a 14% year-on-year increase in first half operating profit. Management is focusing on a demerger of the UK business to boost Pru’s lowly valuation, but unrest in its largest Asian market may cast a shadow on sentiment.

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Prudential on Aug. 14 reported a 14% year on year rise in first-half operating profit from continuing operations to 2 billion pounds, compared to the same period in 2018.

The London-listed insurer results were boosted by a strong performance from its fast-growing Asian business. It said its Solvency II ratio stood at 222% of the minimum required capital buffer. It announced an interim dividend of 16.45 pence per share, a 5% year-on-year rise.

Prudential shares fell by 2.1% to 1526 pence by 0945 GMT on Aug. 14.

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