LONDON, UK -- (MARKET WIRE) -- December 1, 2006 --Embargo: 08.15am Friday 1 December 2006
PRUDENTIAL EXPECTS AT LEAST TO DOUBLE 2005 ASIAN LIFE NEW BUSINESS
PROFITS BY 2009
Prudential plc ("Prudential") will hold a presentation for investors and
analysts today to describe its Asian Life and Asset Management businesses.
Barry Stowe, Chief Executive, Prudential Corporation Asia said:
'Prudential has built significant presence and scale in Asia with
positions in all the major markets in the region. Between 1994 and 2005
life sales grew by 24% CAGR and funds under management by 34% CAGR with
strong growth continuing into 2006.
'We expect our life business in Asia at least to double 2005 new business
profits by 2009.'
ENDS
Enquiries
Media Investors / analysts
Jon Bunn 020 7548 3559 James Matthews 020 7548 3561
William Baldwin-Charles 020 7548 3719 Valerie Pariente 020 7548 3511
Notes to Editor:
1. A presentation to analysts will take place at 8.30am GMT at Governor's
House, Laurence Pountney Hill, London, EC4R 0HH. An audio cast of the
presentation will be available on the Group's website,
www.prudential.co.uk.
The presentations will be available at www.prudential.co.uk from
9.00am GMT.
2. An interview with Barry Stowe, Chief Executive, Prudential Corporation
Asia will be available at www.prudential.co.uk from 8.30am GMT.
3. A media briefing will be held at 3pm today at Governor's House. To
attend please call William Baldwin-Charles on 020 7548 3719.
*Prudential plc is a company incorporated and with its principal place of
business in the United Kingdom, and its affiliated companies constitute
one of the world's leading financial services groups. It provides
insurance and financial services directly and through its subsidiaries
and affiliates throughout the world. It has been in existence for over
150 years and has GBP 237.5 billion in assets under management as at 30th
June 2006. Prudential plc is not affiliated in any manner with Prudential
Financial, Inc, a company whose principal place of business is in the
United States of America.
Forward-Looking Statements
This statement may contain certain "forward-looking statements" with
respect to certain of Prudential's plans and its current goals and
expectations relating to its future financial condition, performance,
results, strategy and objectives. Statements containing the
words "believes", "intends", "expects", "plans", "seeks"
and "anticipates", and words of similar meaning, are forward-looking. By
their nature, all forward-looking statements involve risk and uncertainty
because they relate to future events and circumstances which are beyond
Prudential's control including among other things, UK domestic and global
economic and business conditions, market related risks such as
fluctuations in interest rates and exchange rates, and the performance of
financial markets generally; the policies and actions of regulatory
authorities, the impact of competition, inflation, and deflation;
experience in particular with regard to mortality and morbidity trends,
lapse rates and policy renewal rates; the timing, impact and other
uncertainties of future acquisitions or combinations within relevant
industries; and the impact of changes in capital, solvency or accounting
standards, and tax and other legislation and regulations in the
jurisdictions in which Prudential and its affiliates operate. This may for
example result in changes to assumptions used for determining results of
operations or re-estimations of reserves for future policy benefits. As a
result, Prudential's actual future financial condition, performance and
results may differ materially from the plans, goals, and expectations set
forth in Prudential's forward-looking statements. Prudential undertakes
no obligation to update the forward-looking statements contained in this
statement or any other forward-looking statements it may make.
This information is provided by RNS
The company news service from the London Stock Exchange