Prudential plc Full Year 2009 Results

London - 9 March 2010

Prudential’s Strategy Delivers Record Performance

Embedded Value:

  • New business profit of £1,607 million up 34%*
  • Operating profit based on longer-term investment returns of £3,090 million up 8%*
  • Shareholders’ funds of £15.3 billion, equivalent to 603 pence per share

IFRS:

  • Operating profit based on longer-term investment returns of £1,405 million up 10%*
  • Operating profit after tax covers full year dividend 2.2 times
  • Shareholders’ funds of £6.3 billion (2008: £5.1 billion)

New Business:

  • Total APE sales of £2,896 million up 1%*
  • Retail APE sales of £2,890 million up 11%*
  • EEV new business profit margin (% APE) of 56% (2008: 42%)*
  • Free surplus – investment in new business - of £675 million down 16 per cent*

Capital & Dividend:

  • Management action strengthened Insurance Groups Directive (“IGD”) capital surplus, estimated at £3.4 billion, £1.9 billion higher than at the end of 2008 (£1.5 billion)
  • 2009 full year dividend increased by 5% to 19.85 pence per share

* 2008 comparatives are at actual exchange rates (AER). In order to facilitate comparisons for the Group’s current business amounts shown for 2009 and 2008, new business and profit related KPIs exclude those of the Taiwan agency business for which the sale process was completed in June 2009.

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