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Prudential's new-business profit surges on Asia growth

Reuters Published on Thu, Nov 16, 2017 / 3:37 PM GMT+8

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(Nov 16): Prudential Plc's new-business profit for the first nine months of the year rose 17%, with a major chunk of it coming from Asia, and the British life insurer also saw growth opportunities in the United States, and the UK and Europe.

New-business profit for the group was 2.47 billion pounds ($4.41 billion), driven by higher sales and favourable economics, Prudential said on Thursday ahead of an investor day. It was in line with forecasts by analysts at KBW.

In Asia, Prudential's focus region in recent years, new-business profit rose 15% to 1.61 billion pounds in the period, driven in part by higher sales volumes and a boost from higher interest rates.