LONDON (dpa-AFX) - Prudential PLC said its first quarter new business profit on a Traditional Embedded Value or TEV basis was up 12 percent compared with the prior year to $608 million. APE sales were up 4 percent to $1.68 billion.
CEO, Anil Wadhwani said: 'New business profit grew by 12 percent in the first quarter of 2025, consistent with our guidance that we expect fiscal 2025 new business profit to grow by more than 10 percent. New business profit growth in the first quarter was broad-based across our markets, driven by higher volumes and a 2 percentage point margin improvement.'
Prudential said it continues its ongoing dispute with Detik Ria, the 49 percent shareholder in SHS, the holding company of PAMB, including a new claim notified to Prudential by Detik Ria regarding dividends for the equivalent of approximately $813 million plus interest at a rate of 5 percent from the date of payment of each dividend or other payment to which it claims to be entitled. Prudential said it will vigorously pursue defence including any available claims and counterclaims and manage the dispute in the best interests of Prudential and its shareholders.
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