Insurance giant Prudential has reported a successful first half of the year, with the company revealing a 39% jump in operating profit to GBP1.33 billion for the six month period, driven by strong performances in its Asian and US operations.
The group’s chief executive, Mark Tucker, revealed that new business profit in Asia grew 31% to GBP282 million, while US variable annuity sales increased 31% to GBP2.2 billion and are continuing to gain profitable market share.
Meanwhile, in the UK, retail sales rose 10% in the first half of 2007, while margins on new business in the UK remained unchanged at 30%.
Following these positive results, going forward, the group plans to focus on the growing global market for retirement savings and retirement income, and believes that its regional platforms and global capabilities place the group in a strong position to capture a share of the retirement opportunity around the world.