Prudential PLC

PRU: XLON (GBR)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	GBX 1,718.00	Nnqf	Mgxmsfpfrk

Prudential Earnings: Marches on With a Continued Rebound in Sales; Shares undervalued

Henry Heathfield

Nov 6, 2023

Prudential is continuing its strong rebound in sales and new business as it has come out of the prolonged China coronavirus lockdown. At constant exchange rates, the company has announced $4.4 billion in annual premium equivalent sales in the first 9 months of 2023. Against the $3.1 billion reported for the first 9 months of 2022, that stacks up very well. Prudential has generated new business profit of $2.1 billion over the same time frame. Again, this is versus $1.6 billion over the same period in 2022, so the business is performing well again.

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