LONDON (dpa-AFX) - Prudential Plc (PRU.L, PUK), a British insurance company, on Tuesday reported an increase in its first-quarter new business profit by 11 percent excluding economic impacts to $810 million.
For the first-quarter, annual premium equivalent or APE sales was up 7 percent to $1.625 billion, which reflected continued momentum despite strong comparators in Hong Kong and CPL and headwinds in Vietnam.
Anil Wadhwani, CEO of Prudential, said: 'Our total APE sales have grown sequentially each quarter since Q3 2023, reflecting resilient consumer demand across Asia and demonstrating the strength of our multi-market and multi-channel distribution model. Together, we believe this provides a sound base for continued FY 2024 new business growth. We remain focused on accelerating value creation for our shareholders and we expect to provide an update on our capital management plans by HY 2024 results.'
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