Prudential plc has reported its Q1 2025 business performance (for the three months ended 31 March 2025). Key highlights on a constant exchange rate basis include new business profit on a Traditional Embedded Value (TEV) basis was up 12 per cent compared with the prior year to $608 million. First quarter APE sales were up 4 per cent to $1,677 million and New business margin increased 2 percentage points
Anil Wadhwani, Chief Executive Officer of Prudential, commented: “Our on-going focus on quality growth in new business profit continues to produce attractive returns and capital generation. Our strong 2025 first quarter new business performance reflects the benefits of our on-going efforts to build and modernise our capabilities to better serve our customers.
New business profit grew by 12 per cent in the first quarter of 2025, consistent with our guidance that we expect FY25 new business profit to grow by more than 10 per cent. New business profit growth in the first quarter was broad-based across our markets, driven by higher volumes and a 2 percentage point margin improvement.
Across the business we continue to advance our operational efficiency by investing in technology and refining our operating model. We have welcomed strong new talent to the business with the appointment of John Cai to lead Agency across our markets and serve as Regional CEO for Malaysia, Indonesia and Vietnam. We continued to deliver shareholder value in 2025 having completed an additional $442 million (49 million shares) of repurchases under our $2 billion share buyback programme between 1 January and 23 April 2025. We continue to evaluate a potential listing of our India asset management business, as discussed in our 2024 Annual Report, with the intention that net proceeds would be returned to shareholders.
The current tariff uncertainty does not directly impact our business but has resulted in global economic and market volatility, with the impacts of the latter illustrated by our published sensitivities. We remain confident that, despite the wider macroeconomic uncertainty, our robust solvency position and multi-channel, multi-market franchise situates us well for long-term success in this highly profitable and attractive growth business”
