Prudential (LSE:PRU) has said it remains confident of delivering double‑digit growth across its key financial metrics in 2026.
The group reported TEV (Traditional Embedded Value) new business profit of $686m in Q1, up 10% on a constant exchange rate basis, annual premium equivalent (APE) sales rose 6% to $1,823m, and new business margin increased by two percentage points.
The quarter’s growth was broad‑based across segments, led by double‑digit new business profit gains in Hong Kong, Mainland China and Malaysia and with strong contributions from bancassurance and ongoing agency transformation.
Eastspring recorded net inflows and had funds under management of $268.9bn at 31 March, down from $277.7bn at 31 December 2025, largely due to adverse market and foreign exchange movements.
Prudential launched a $1.2bn buyback in January, comprising $500m of recurring capital returns and $700m of IPO proceeds from ICICI Prudential Asset Management Company and repurchased approximately 20m shares for $312m in Q1.
"We remain confident in delivering double‑digit growth across our key financial metrics in 2026 and achieving our 2027 financial objectives," said Anil Wadhwani, CEO.
The group reiterated its 2027 objectives of growing new business profit at a compound annual rate of 15-20% from 2022-2027 and generating at least $4.4bn of operating free surplus in 2027.
