Results summary

  HALF YEAR 2022
$m
HALF YEAR 2021 (AER)
$m
International Financial Reporting Standards (IFRS) Basis Results    
Adjusted operating profit from continuing operations 1,661 1,571
Basic earnings per share based on adjusted operating profit, net of tax and non-controlling interests from continuing operations (in cents) 49.2¢ 51.6¢
European Embedded Value (EEV) Basis Results    
New business profit from continuing operations 1,098 1,176
Post-tax operating profit from continuing operations 1,806 1,749
Basic earnings per share based on operating profit from continuing operations after non-controlling interests (in cents) 65.6¢ 66.7¢
EEV shareholders' equity per share (including goodwill attributable to equity holders) from continuing operations (in cents) 1,539¢ 1,650¢
Operating free surplus generated from continuing long-term and asset management businesses 1,224 1,112
Dividend    
Dividend per share relating to the reporting period (in cents) 5.74¢ 5.37¢

Basis of preparation

The results are prepared on two bases: International Financial Reporting Standards (IFRS) and European Embedded Value (EEV). The results prepared under IFRS form the basis of the Group’s statutory financial statements. The supplementary EEV basis results have been prepared in accordance with the amended EEV Principles issued by the European Insurance CFO Forum in 2016. The Group’s EEV financial results are stated on a post-tax basis and include the post-tax IFRS financial results of the Group’s asset management and other operations. Continuing operations represents the Asia, Africa and head office functions of the Group following the demerger of Jackson. Segment results are attributed to the shareholders of the Group before deducting the amount attributable to non-controlling interests, except where otherwise stated.  

The Group provides supplementary analysis of profit before tax attributable to shareholders in order to distinguish operating-profit based on longer-term investment returns from the other elements of total profit shown.

EEV and adjusted IFRS operating profit for continuing operations is based on longer-term investment returns and is stated after excluding the effect of short-term fluctuations in investment returns against long-term assumptions and other corporate transactions. Furthermore, for EEV basis results, operating profit based on longer-term investment returns excludes the effect of changes in economic assumptions and the mark-to-market value movement on core borrowings. Separately on the IFRS basis, adjusted operating profit also excludes amortisation of acquisition accounting adjustments.

Operating free surplus generation is the financial metric we use to measure the internal cash generation of our business operations and for our life operations is generally based on (with adjustments) the capital regimes that apply locally in the various jurisdictions in which the Group operates. It represents amounts emerging from the in-force business during the period, net of amounts reinvested in writing new business. For asset management businesses, it equates to post-tax adjusted operating profit for the period.

Exchange translation – Actual Exchange Rate (AER) and Constant Exchange Rate (CER)

The IFRS and EEV results are presented in US dollars. The comparative results have been prepared using previously reported exchange rates (AER basis).

Jackson National Life Insurance Company

Prudential

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Prudential

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Prudential plc is an international company incorporated 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, and it has been in existence for over 170 years. 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, or the Prudential Assurance Company, a subsidiary of M&G plc (a company incorporated in the United Kingdom).

PPM America

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Prudential

If you are looking for an affiliate of Prudential Financial, Inc, whose principal place of business is in the United States of America.

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Prudential plc is an international company incorporated 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, and it has been in existence for over 170 years. 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, or the Prudential Assurance Company, a subsidiary of M&G plc (a company incorporated in the United Kingdom).

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For M&G and Prudential UK customers and policyholders:

In October 2019, Prudential plc separated its UK operations and, as a result of this separation, Prudential UK is now owned by M&G plc. The M&G plc group is a separate, independent group and as such we are not able to help any M&G or Prudential UK customers or policyholders.

Therefore, to find the best way to make contact, please visit www.pru.co.uk/contact-us

For further information on the M&G plc group, please visit the M&G website: www.mandgplc.com