01 Dec 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.'
||020 7548 3559
||020 7548 3561
||020 7548 3719
||020 7548 3511
Notes to Editor:
- 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.
- An interview with Barry Stowe, Chief Executive, Prudential Corporation Asia will be available at www.prudential.co.uk from 8.30am GMT.
- 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 £237.5 billion in assets under management as at 30 th 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 .
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.
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