Prudential PLC Sales Rose in Most Markets, Offsetting Weakness in Vietnam
By Ian Walker
Prudential PLC said that new business profit rose 11% in the first quarter of the year with growth in most markets, offsetting weakness in Vietnam.
The insurance-and-investment business said Tuesday that annual premium equivalent sales--a key metric for the industry--rose 7% to $1.625 billion.
"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," Chief Executive Anil Wadhwani said.
The company plans to provide an update on its capital management plans by its first-half year earnings.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
April 30, 2024 02:52 ET (06:52 GMT)
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