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HKG:2378

32 stories mentioning HKG:2378Updated 16d ago

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Asia

Prudential Launches New Protection Plan Targeting Hong Kong Newcomers

Prudential (HKG:2378) has launched PRUChoice Hong Kong Stay, a protection plan designed for newcomers to Hong Kong and their families, according to a Monday press release.The plan covers hospitalization, accidents, residence protection, compassionate visits, and eligible children's education expenses.It offers annual hospitalization coverage of up to HK$300,000 and accident protection of up to HK$520,000, with optional outpatient coverage of up to HK$10,000 a year, according to the statement.

HKG:2378
Asia

Prudential Unit Disposes Of 2% Stake in ICICI Prudential Asset Management

Prudential (HKG:2378) unit Prudential Corporation Holdings offloaded nearly 9.9 million, or 2%, shares in ICICI Prudential Asset Management (NSE:ICICIAMC, BOM: 544658) for 30 billion Indian rupees.The shares were sold for 3,065 rupees per share on the open market, according to a Thursday Hong Kong bourse filing.The proceeds will be returned to Prudential's shareholders in the form of a share buyback.Following completion, Prudential Corporation Holdings' shareholding in ICICI Prudential Asset Management decline to 32.59%.

BOM:544658HKG:2378NSE:ICICIAMC
Prudential to Sell Up to 2% Stake in ICICI Prudential AMC to Meet India Float Rules
US Markets

Prudential to Sell Up to 2% Stake in ICICI Prudential AMC to Meet India Float Rules

Prudential (HKG:2378) plans to sell up to a 2% stake in ICICI Prudential Asset Management (NSE:ICICIAMC, BOM:544658) to help the Indian asset manager meet minimum public shareholding requirements.Prudential Corporation, a subsidiary of the UK-based insurer and one of ICICI Prudential AMC's promoters, will sell up to 9.9 million shares through the open market on Aug. 27, according to an exchange filing on Wednesday.The proposed sale represents up to 2% of ICICI Prudential AMC's issued and paid-up equity share capital.While Prudential and ICICI Prudential Asset did not disclose the financial terms of the deal, local media reports said, citing a term sheet, that the block deal represented a 2% to 7% discount to the company's Wednesday closing price.Based on the closing price of 3,222.80 rupees on the National Stock Exchange of India, the shares are worth about 29.6 billion rupees to 31.2 billion rupees, according to' calculation. Without any discount, the base value of the shares is roughly 31.9 billion rupees.Prudential Corporation currently forms part of a promoter group that holds 87.6% of the company, with the aggregate holding expected to fall to 85.6% after the sale.The sale is intended to support ICICI Prudential AMC's compliance with India's minimum public shareholding requirement.Prudential said its stake in the asset manager will fall to 32.6% after the transaction, while its governance rights in the company will remain unchanged.Prudential's stake sale is expected to take place in one or more tranches on Aug. 27.Prudential previously sold shares in ICICI Prudential AMC through the asset manager's initial public offering and pre-IPO placement.The company said the latest transaction is being undertaken specifically to support the listed asset manager's public-float requirements.

BOM:544658HKG:2378NSE:ICICIAMC
Asia

Prudential Posts 26% Profit Drop in H1

Prudential (HKG:2378, SGX:K6S) posted profit attributable to equity holders of $954 million for the first half of 2026, down 26% from $1.28 billion a year earlier.Earnings per share stood at $0.378, compared with $0.491 in the year-ago period, according to a Thursday Hong Kong bourse filing.Insurance revenue increased to $5.90 billion from $5.33 billion a year earlier.The board approved a first interim dividend of $0.0888 per share, up from $0.0771 a year earlier.

HKG:2378SGX:K6S
Asia

Prudential to Sell 2% Stake in ICICI Prudential Asset Management

Prudential (HKG:2378) subsidiary Prudential Corporation will sell a 2% stake in ICICI Prudential Asset Management (NSE:ICICIAMC, BOM:544658) to support India's minimum public float requirement, according to a Wednesday filing with the Hong Kong bourse.The 2% stake equates to 9,885,169 equity shares in ICICI Prudential Asset Management, according to a separate Indian bourse filing by the latter.Financial terms of the deal were not disclosed by either company, but based on the closing price of 3,291.8 rupees on Tuesday, the day before the announcements, the sale could fetch 32.5 billion Indian rupees.Prudential said the sale is aimed at supporting India's minimum public float requirement of 15% within five years of a company's IPO.The deal is slated to be executed on Thursday, after which Prudential will retain a 32.6% stake in ICICI Prudential Asset Management.

BOM:544658HKG:2378NSE:ICICIAMC
Asia

Prudential's Joint Venture Starts Operations in India

Prudential HCL Health Insurance, a joint venture between Prudential (HKG:2378, SGX:K6S) and HCL Group, began its operations in India on Thursday, marking its foray into the country as a standalone insurer, according to a same-day statement.Prudential owns a 70% stake in the joint venture company, while HCL holds the remaining 30% shareholding. Prudential HCL received approval from the Insurance Regulatory and Development Authority of India on July 1 to enter the Indian market.Prudential Health India has access to a network of more than 12,000 hospitals and will service customers through an omni-channel approach.

HKG:2378SGX:K6S
Asia

Prudential Expands Hong Kong Headquarters at Swire Properties' Taikoo Place

Prudential's (SGX:K6S, HKG:2378) Hong Kong unit will expand its office footprint at Taikoo Place to about 83,000 square feet under a new agreement with Swire Properties (HKG:1972), according to a Wednesday press release.The insurer, which has been based at Taikoo Place since 2011, will consolidate and expand its operations across One Taikoo Place and One Island East.

HKG:1972HKG:2378SGX:K6S
Asia

Market Chatter: AIA, Prudential Deepen Push For High Net Worth Clients With New Roles

AIA Group (HKG:1299) and Prudential (SGX:K6S, HKG:2378) introduced new roles in Hong Kong as part of efforts to win business from the region's high-net-worth clients, Bloomberg reported Tuesday.AIA created the role of chief executive of global high-net-worth business at its Hong Kong unit, while Prudential introduced the position of CEO for wealth and Bermuda.The firms appointed Chirag Rathod and Donna Cotter to the positions, respectively.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:1299HKG:2378SGX:K6S
Asia

Market Chatter: UK-Listed Financial Firms in Hong Kong Slump After Chinese Media Reports Tighter Offshore Account Curbs

Trading of UK-listed financial firms in Hong Kong-HSBC, Prudential, and Standard Chartered-slumped Thursday after a Chinese media report said mainland residents now face tighter restrictions on opening offshore accounts at major Hong Kong banks, Reuters News reported on the same day.The Bank of East Asia's Shanghai branch stopped opening overseas investment accounts for mainland clients, and HSBC's Lujiazui staff said deposited funds must comply with Hong Kong rules, the newswire reported, citing the South China Morning Post.As a result, HSBC, Standard Chartered, and Prudential tumbled between 5% and 6.3% in London, and AIA Group dropped 6.8% in Hong Kong, the publication said.HSBC, Prudential, and Standard Chartered were not immediately reachable for comment when contacted by Reuters, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:0005HKG:2378HKG:2888
Asia

Prudential Anchors India Growth Plans With Bharti Life Insurance Purchase, S&P Says

Prudential's (HKG:2378) purchase of a 75% stake in India-based Bharti Life Insurance supports its growth efforts in the country, S&P Global Ratings said in a recent release.The acquisition will boost Hong Kong-based Prudential's grasp over its strategy, product lines, and distribution networks in India.The purchase will create synergies with the group's other operations in the country, which include a majority stake in Prudential HCL Health Insurance and minority ones in ICICI Prudential Asset Management and ICICI Prudential Life Insurance.The deal will have a minimal impact on Prudential's very robust capital and earnings assessment, S&P said, noting that Bharti Life Insurance has a 0.5% market share in India, the rating agency said.Prudential raises its exposure to shifting regulatory conditions in emerging Asia due to its overall growth plans in the region.Meanwhile, proceeds from a potential partial sale of Prudential's stake in ICICI Prudential Life as regulatory requirement for the Bharti Life Insurance transaction could anchor the group's prospective expansion in India, according to S&P.

HKG:2378
Prudential to Acquire 75% Stake in Bharti Life Insurance Amid India Expansion
US Markets

Prudential to Acquire 75% Stake in Bharti Life Insurance Amid India Expansion

Prudential (HKG:2378, SGX:K6S) agreed to acquire a 75% stake in Bharti Life Insurance as the insurer deepens its expansion in India's fast-growing insurance market.The insurer will acquire the stake from Bharti Life Ventures and 360 ONE Asset Management for an initial cash consideration of 35 billion rupees, or about $389 million payable on completion, according to a Sunday press release.The transaction remains subject to regulatory approvals and other conditions, and will be funded from existing resources.Prudential Chief Executive, Anil Wadhwani, said the acquisition would combine Prudential's global insurance capabilities with Bharti's local market presence to expand savings and protection offerings in India."By acquiring a controlling stake in Bharti Life, we are bringing together Prudential's nearly 180 years of global insurance expertise and Bharti's strong and growing local presence to serve the savings and protection needs of Indian consumers," Wadhwani said.Prudential said the deal would give it management and operational control over its India life insurance operations, strengthening its ability to distribute products across multiple channels in a market with low insurance penetration and growing demand for savings and protection products.Following completion, Prudential's India operations will include majority-owned Bharti Life Insurance and Prudential HCL Health Insurance, alongside minority stakes in ICICI Prudential Asset Management and ICICI Prudential Life Insurance.The insurer said regulatory approvals for the transaction are expected to require it to reduce its shareholding in ICICI Prudential Life to below 10%, and that it is in discussions with regulators on the divestment process.Prudential added that health insurance operations under Prudential HCL Health Insurance are expected to start in 2026, subject to regulatory approval.The acquisition comes as India's insurance sector is expected to regain growth momentum through 2026 and beyond.Strong macroeconomic fundamentals, structural reforms, and resilient long-term growth drivers position India among the world's fastest-growing insurance markets despite slower premium growth in 2024 and 2025, according to a Swiss Re Institute report.

HKG:2378SGX:K6S
Asia

Prudential to Acquire 75% Stake in India's Bharti Life Insurance For INR35 Billion

Prudential (SGX:K6S, HKG:2378) agreed to acquire a 75% stake in India's Bharti Life Insurance Company for 35 billion Indian rupees, according to a Sunday filing with the Hong Kong bourse.The insurer's Hong Kong-listed shares fell 2% in morning trade Monday.Prudential is acquiring the stake from Bharti Life Ventures and 360 ONE Asset Management, pending regulatory approval. The firm may be required to pay an additional 7 billion rupees if certain conditions are met.Following completion, the firm's Indian operations will include majority-owned Bharti Life Insurance and Prudential HCL Health Insurance, as well as minority shareholdings in ICICI Prudential Asset Management and ICICI Prudential Life Insurance (NSE:ICICIPRULI, BOM:540133).To secure regulatory approval, Prudential is expected to reduce its 22% shareholding in ICICI Prudential Life Insurance to under 10%, the firm said.Proceeds from the stake sale will be used to support future growth of the business, Prudential said.

BOM:540133HKG:2378NSE:ICICIPRULISGX:K6S
Asia

Prudential Buys Back Shares

Prudential (SGX:K6S, HKG:2378) bought back 252,594 shares in London on Thursday at an average price of about 11.83 pounds sterling apiece, according to a Friday Hong Kong bourse filing.The insurer intends to cancel the repurchased shares.Following the transaction, the company will have about 2.52 billion shares in issue.

HKG:2378SGX:K6S
Asia

Prudential Buys Back Shares

Prudential (SGX:K6S, HKG:2378) bought back 255,414 shares in London on Wednesday at an average price of about 11.61 pounds sterling apiece, according to a Thursday Hong Kong bourse filing.The insurer intends to cancel the repurchased shares.Following the transaction, the company will have about 2.52 billion shares in issue.

HKG:2378SGX:K6S
Asia

Prudential Buys Back Shares

Prudential (SGX:K6S, HKG:2378) bought back 351,312 shares in London on Tuesday at an average price of about 10.94 pounds sterling apiece, according to a Wednesday bourse filing.The insurer intends to cancel the repurchased shares.Following the transaction, the company will have about 2.52 billion shares in issue.

HKG:2378SGX:K6S
Asia

Prudential Buys Back Shares

Prudential (SGX:K6S, HKG:2378) bought back 265,592 shares in London on Monday at an average price of about 11.01 pounds sterling apiece, according to a Tuesday bourse filing.The insurer intends to cancel the repurchased shares.Following the transaction, the company will have about 2.52 billion shares in issue.

HKG:2378SGX:K6S
Asia

Prudential Buys Back Shares

Prudential (SGX:K6S, HKG:2378) bought back 488,861 shares in London on Thursday at an average price of about 10.93 pounds sterling apiece, according to a Monday Hong Kong bourse filing.The insurer intends to cancel the repurchased shares.Following the transaction, the company will have about 2.52 billion shares in issue.

HKG:2378SGX:K6S
Asia

Prudential Buys Back Shares

Prudential (SGX:K6S, HKG:2378) bought back 635,107 shares in London on Wednesday at an average price of about 11.05 pounds sterling apiece, according to a Thursday Hong Kong bourse filing.The insurer intends to cancel the repurchased shares.Following the transaction, the company will have about 2.52 billion shares in issue.

HKG:2378SGX:K6S
Asia

Prudential Buys Back Shares

Prudential (SGX:K6S, HKG:2378) bought back 428,598 shares in London on Tuesday at an average price of about 11.19 pounds sterling apiece, according to a Wednesday Hong Kong bourse filing.The insurer intends to cancel the repurchased shares.Following the transaction, the company will have about 2.52 billion shares in issue.

HKG:2378SGX:K6S
Asia

Prudential Logs 10% Growth in Q1 New Business Profit

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.

HKG:2378SGX:K6S

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