Surge in profit expected at Prudential
Sunday 10 March 2013
Prudential's boss, Tidjane Thiam, will this week move closer to reaching an ambitious set of targets that could eventually lead to a break-up of the 164-year-old insurer.
The company, founded in London's Hatton Garden jewellery district, is expected to produce strong results on the back of rapid growth in its core Asian market.
Analysts believe the company will post a pre-tax profit of more than £2bn and raise its dividend by about 15 per cent. Rival Aviva last week slashed its payout on the back of a £3bn loss.
Crucially for Prudential, the results will come in the final 12 months of a three-year plan to boost its business in Asia. By the end of 2013, the company hopes to double on an annual basis the £719m in new business profit it made in the continent in 2010.
Mr Thiam (right), chief executive of Prudential since 2009, has spoken of creating "optionality" for the group's UK, US and Asian operations as well as its asset management arm M&G.
"Prudential's Asian life insurance unit continues to underpin our positive stance – it is geographically diversified, has improved its product mix and maintains a very strong distribution footprint," a Morgan Stanley analyst said.
- 4 Alex Salmond: 'The rocks would melt with the sun before I'd ever set foot in the House of Lords'
'The Fappening': Rihanna 'nude pictures' claims emerge on 4Chan as hacking scandal continues
Stamford Hill council removes 'unacceptable' posters telling women which side of the road to walk down
Kim Kardashian 'nude pictures' leaked on 4chan weeks after Jennifer Lawrence 'The Fappening' scandal
The Fappening: Jennifer Lawrence leaked 4Chan sex video branded 'fake' by forum users
Hitler’s former food taster reveals the horrors of the Wolf’s Lair
Scottish independence referendum: A nation divided against itself
Scottish referendum results: Cross-party consensus collapses amid Tory-Labour spat on the 'English question'
Scottish independence: David Cameron is becoming the 'George Bush of Britain'
Plebgate MP Andrew Mitchell called officer a 'little s**t', claim court documents 'exposing ex-Chief Whip's 'record of abusing police'
Archbishop of Canterbury admits doubts about existence of God
Hilary Mantel 'should be investigated by police' over Margaret Thatcher assassination story, says Lord Bell
iJobs Money & Business
£400 - £450 Per Day: Clearwater People Solutions Ltd: **URGENT CONTRACT ROLE**...
Up to £100k or £450p/d: Saxton Leigh: My client is a leading commodities tradi...
£320 - £330 per day: Ashdown Group: The Ashdown Group have been engaged by a l...
To £75,000 + Pension + Benefits + Bonus: Saxton Leigh: My client is looking f...