Prudential Plc - Q4 New Business Results


LONDON, UK--(Marketwire - January 29, 2008) - Embargo: 07.00am Tuesday 29 January 2008

PRUDENTIAL PLC FULL YEAR 2007 NEW BUSINESS RESULTS

All figures in the table below are for the 12 months to 31 December 2007, with comparisons to 2006 at constant exchange rates.

                                       APE                 Growth

Total Group Insurance     GBP2,874 million                    21%

Total Group Retail 
 Insurance                GBP2,598 million                    25%

Asia                      GBP1,306 million                    44%

US                        GBP671 million                      19%

UK Retail                 GBP715 million                       4%

UK Total                  GBP897 million                       0%

Asia Fund Management      Net inflows of GBP3 billion up 23%

M&G                       Net inflows of GBP5 billion down 19%

Mark Tucker, Group Chief Executive said:

"2007 has been another very strong year for the Group. These extremely positive new business results demonstrate continued growth across Prudential. The combination of our geographic diversification, world class product innovation, strength in distribution and the power of our brands continues to deliver excellent broad based growth.

"These results demonstrate the fundamental attractiveness of Asia as the fastest growing region of the world's life assurance markets and Prudential's proven ability to capture a material and growing share of the market.

"As we look ahead into 2008 the general economic outlook is uncertain and it remains to be seen how far this will impact upon the appetite to save. In the US and the UK our primary focus is on the retirement market, where demand is less sensitive to a general economic downturn than in other sectors. We therefore expect to see further profitable growth in both these markets, and to maintain our long term sector out-performance in the US. In Asia, the fundamentals underpinning economic growth remain powerful and our businesses are very well placed to benefit, although we do not currently expect growth in 2008 to reach the very high levels achieved in 2007. The outlook for the Group therefore remains positive."


Highlights

*  Prudential Corporation Asia sales were up 44 per cent, with 
   particularly impressive performance in India and Indonesia, two of the 
   region's largest markets.

*  Jackson, the Group's US insurance business, recorded new business
   growth of 19 per cent.

*  Prudential UK continued its solid performance based on delivering value
   in the retirement market where it can generate attractive returns. In 
   the fourth quarter, it completed the transfer of Equitable Life's 
   portfolio of in-force with-profits annuities the largest transfer of 
   its kind in the UK.

*  In asset management, Asian net fund inflows of GBP3 billion were up 23
   per cent. M&G experienced net  inflows of GBP5 billion which, while 19 
   per cent lower than 2006, still represent the second highest year on 
   record in very challenging markets.

To view the full announcement paste the links below into your web browser

http://www.rns-pdf.londonstockexchange.com/rns/7211m_.1pdf-2008-1-29.pdf
http://www.rns-pdf.londonstockexchange.com/rns/7214m_.2pdf-2008-1-29.pdf

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