Prudential's new-business profit surges on Asia growth

London

PRUDENTIAL plc's new-business profit for the first nine months of the year rose 17 per cent, with a major chunk of it coming from Asia, and the British life insurer also saw growth opportunities in the United States, and the UK and Europe.

New-business profit for the group was £2.47 billion (S$4.4 billion), driven by higher sales and favourable economics, Prudential said on Thursday ahead of an investor day. It was in line with forecasts by analysts at KBW.