Results summary

International Financial Reporting Standards (IFRS) Basis Results Half year 2021
$m
Half year 2020 (AER)
$m
Adjusted IFRS operating profit from continuing operations 1,571 1,286
Earnings per share based on adjusted IFRS operating profit from continuing operations after non-controlling interests 51.6¢ 38.1¢
European Embedded Value (EEV) Basis Results    
New business profit from continuing operations 1,176 912
Operating profit from continuing operations 1,749 1,540
Basic earnings per share based on operating profit from continuing operations after non-controlling interests 66.7¢ 58.5¢
EEV shareholders' equity (including goodwill attributable to equity holders) from continuing operations 43,162 35,399
Operating free surplus generated from continuing insurance and asset management operations before restructuring and IFRS 17 implementation costs 1,112 983

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 amended 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 following the reclassification of Jackson as held for distribution in the first half of 2021. Segment results are attributed to the shareholders of the Group before deducting the amount attributable to non-controlling interests, except where otherwise stated. The directors are responsible for the preparation of the supplementary information in accordance with the EEV Principles.

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 acquisition accounting adjustments.

Exchange translation – Actual Exchange Rate (AER)

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

Prudential

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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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