Prudential Q1 New Business Profit Rises 10 Percent to $686M
Prudential reported a 10 percent rise in quarterly new business profit. The firm warned that energy-driven inflation could dampen consumer sentiment across South Asia.
PRUDENTIAL PLC reported a 10% increase in first-quarter new business profit to $686 million. This compares to $625 million in the prior year as growth in Hong Kong offset asset management outflows. Investors are weighing these gains against rising energy costs that threaten consumer spending power across India and Southeast Asia.
### Hong Kong Drives Regional Gains New business profit in Hong Kong saw double-digit growth during the quarter ended March 31. Demand rose as mainland China clients and new migrants sought higher-yielding products denominated in the United States dollar.