Insurer attributes decline to high base effects in 2023 in many markets; excluding effect of interest rates and other economic impacts, new business profit is up 8%
PRUDENTIAL’S new business profit – a measure of profitability for insurance businesses – fell 1 per cent to US$1.47 billion on an actual exchange rate basis for the first half ended Jun 30, from US$1.49 billion a year earlier.
The insurer on Wednesday (Aug 28) attributed the decline to high base effects in 2023 in many markets.
Excluding the effect of interest rates and other economic impacts, new business profit was up 8 per cent.
Posted in Business
