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Prudential Logs 10% Growth in Q1 New Business Profit

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-- Prudential's (HKG:2378, SGX:K6S) new business profit rose 10% year over year to $686 million in the first quarter, driven by broad-based growth across its markets, according to a Wednesday Hong Kong bourse filing.

The British insurer and asset manager said it delivered growth across all segments, with Hong Kong, mainland China, and Malaysia posting double-digit increases in new business profit.

Annual premium equivalent sales for the three months ended March 31 amounted to $1.82 billion on a constant currency basis, up 6% from the year-ago period.

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