The Business Times
business-time-50

Prudential’s H1 new business profit falls 1% to US$1.47 billion

Insurer attributes decline to high base effects in 2023 in many markets; excluding effect of interest rates and other economic impacts, new business profit is up 8%

google-preferred-sourceAdd BT as a preferred source

Tan Nai Lun &

Lindsay Wong

Published Wed, Aug 28, 2024 · 01:48 PM
    • Prudential's net profit for H1 is down 81% at US$182 million, from US$947 million in the previous corresponding period, on an actual exchange rate basis.
    • Prudential's net profit for H1 is down 81% at US$182 million, from US$947 million in the previous corresponding period, on an actual exchange rate basis. PHOTO: BT FILE

    PRUDENTIAL’S new business profit – a measure of profitability for insurance businesses – fell 1 per cent to US$1.47 billion on an actual exchange rate basis for the first half ended Jun 30, from US$1.49 billion a year earlier.

    The insurer on Wednesday (Aug 28) attributed the decline to high base effects in 2023 in many markets.

    Excluding the effect of interest rates and other economic impacts, new business profit was up 8 per cent.

    PrudentialFinancial resultsInsurance

    TRENDING NOW

    Eugene Lai (left) says that he was sharing a view with Tan Chian Khong that the board needed a refresh and that it was not an explicit direction to resign.

    CSE Global independent director quits after clashes with chairman Eugene Lai over board refresh

    In the last round of bidding, the premium for Category B was S$980 more than that for Category A.

    Cat A COE rate exceeds Cat B for third time in 4 months; premiums largely down

    Siranudh Scott had caused an internet sensation with a video accusing his brother of allegedly abusing him during his childhood years.

    ‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse

    The suspension at Manulife comes amid a broader, coordinated crackdown on cross-border wealth channels.

    Manulife pulls loan product for rich Hong Kong clients after scrutiny

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More