Prudential Results Benefit From Asia Push as Profit Up 25%
- Insurer names Deloitte’s Mark FitzPatrick as its new CFO
- Firm aims to have doubled Asian operating profit by year-end
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Prudential Plc said first-quarter earnings more than doubled in China and rose by double digits in Hong Kong after the U.K.’s largest insurer recruited more agents in the region and increased its focus on health and protection sales.
A measure of future Asian profitability known as new business profit jumped by more than a quarter, contributing to a 25 percent gain across the firm as a whole, the London-based company said in a statement Thursday. Higher interest rates also boosted earnings.