Prudential Q1 Group New Business Profit Rises - Quick Facts

(RTTNews) - UK insurer Prudential Plc (PUK, PRU.L) reported a 29 percent growth in its first-quarter 2014 Group new business profit to 529 million pounds, from the year-ago quarter's 410 million pounds, on an actual exchange rate or AER basis.

In Asia, new business profit grew by 20 percent on constant exchange rates or CER, demonstrating the continued strength of its diversified platform and underpinned by the positive long-term fundamentals in the region.

In the recent quarter, Jackson's post-tax new business profit was up by 67 percent on CER and up 56 percent on AER to 195 million pounds, reflecting the benefit of product and pricing actions, higher sales volumes and the positive impact of higher long-term yields year-over-year.

Meanwhile, Prudential UK made post-tax new business profit of 91 million pounds in the first quarter of 2014, up 90 percent from last year, helped mainly by higher level of bulk annuity activity. M&G delivered more than 1.4 billion pounds of net inflows in the latest three-month period.

Overall, the Group has made a good start to 2014 with strong performance across all its businesses in the first quarter.