Results summary

International Financial Reporting Standards (IFRS) Basis Results Full year 2020
$m
Full year 2019
$m
Adjusted IFRS operating profit based on longer-term investment returns from continuing operations 5,507 5,310
Earnings per share based on adjusted IFRS operating profit from continuing operations after non-controlling interests 175.5¢ 175.0¢
European Embedded Value (EEV) Basis Results    
New business profit from continuing operations 2,802 4,405
Post-tax operating profit from long-term business from continuing operations 6,008 7,645
Basic earnings per share based on operating profit from continuing operations after non-controlling interests 195.9¢ 266.6¢
EEV shareholders' equity per share (including goodwill attributable to equity holders) from continuing operations 2,070¢ 2,103¢
Cash    
Operating free surplus generated from continuing insurance and asset management operations 2,886 2,861
Net cash remitted by business units 771 2,149
Dividend per share relating to the reporting year 16.10¢ 46.26¢

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. Where appropriate, the EEV basis results include the effects of adoption of IFRS Standards. Continuing operations relate to Asia, US and Central operations (including Africa). Discontinued operations related to the UK and Europe operations (M&G plc) that were demerged from the Group in October 2019.

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. The auditors have reported on the 2020 EEV basis supplementary information. Their report confirmed that the EEV information had been properly prepared in all material respects, 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 IFRS operating profit is stated after excluding the effect of short-term fluctuations in investment returns against long-term assumptions and the gain or loss on 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, operating profit also excludes amortisation of accounting adjustments arising principally on the acquisition of REALIC completed in 2012.

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

The comparative results have been prepared using previously reported exchange rates (AER basis) except where otherwise stated.

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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