Results summary

International Financial Reporting Standards (IFRS) Basis Results FULL YEAR 2021
$m
FULL YEAR 2020 (AER)
$m
Operating profit based on longer-term investment returns from:    
Adjusted IFRS operating profit from continuing operations 3,233 2,757
Basic earnings per share based on adjusted operating profit, net of tax and non-controlling interest from continuing operations (in cents) 101.5¢ 86.6¢
European Embedded Value (EEV) Basis Results    
New business profit from continuing operations 2,526 2,201
Post-tax operating profit from continuing operations 3,543 3,401
Basic earnings per share based on operating profit from continuing operations after non-controlling interests 133.8¢ 130.6¢
EEV shareholders' equity per share (including goodwill attributable to equity holders) from continuing operations 1,725¢ 1,607¢
Cash    
Operating free surplus generated from continuing insurance and asset management operations before restructuring and IFRS 17 implementation costs 2,071 1,888
Net cash remitted by business units 1,451 932
Dividend per share relating to the reporting period 17.23¢ 16.10¢

Basis of preparation

The results are prepared on two bases: International Financial Reporting Standards (IFRS) and European Embedded Value (EEV). The EEV basis results have been prepared in accordance with the EEV Principles issued by the European Insurance CFO Forum in 2016. The Group’s EEV basis results are stated on a post-tax basis and include the post-tax IFRS basis results of the Group’s asset management and other operations. Continuing operations represents the Asia, Africa and head office functions of the Group and the discontinued operations represent the US operations (Jackson) which was demerged from the Group in September 2021.

Amounts included in respect of joint ventures and associates represent the Group’s share.

Operating profit based on longer-term investment returns

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.

Operating profit is determined on the basis of including longer-term investment returns.

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 accounting adjustments.

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 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