Prudential Posts Higher Half-Year Profit and Announces Share Buyback
Prudential plc has reported increased new business profit for the first half of the year while simultaneously announcing a $300 million share repurchase program. The insurer also raised its dividend payout despite noting a slowdown in profit growth rates.
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Prudential sees new business profit growth slow, announces US$300m share buy-back
British insurer Prudential announced a US$300 million share buy-back, to be completed by December, as it reported an 8 per cent increase in new business profit for the first half of the year. The buy-back and slower profit growth came amid market concerns over a potential pullback in mainland Chinese visitors to Hong Kong that could test the performance of insurers in one of their largest markets. New business profit – a key metric tracking the future profitability of newly written life...
By Enoch Yiu,Christina Zhao
Read full article →Prudential PLC Posts Higher New Business Profit in First Half - Morningstar
Prudential PLC Posts Higher New Business Profit in First Half Morningstar
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