Prudential (02378) fell nearly 5% at the end of trading. As of press release, it was down 4.73% to HK$69.5, with a turnover of HK$16.180,800.
The Zhitong Finance App learned that Prudential (02378) fell nearly 5% at the end of the session. As of press release, it fell 4.73% to HK$69.5, with a turnover of HK$16.180,800.
According to the news, Prudential announced its results for the first quarter of 2024 in the afternoon. Annual premium equivalent sales for the first quarter were US$1,625 million, an increase of 4% over the previous year, and an increase of 7% according to the fixed exchange rate basis. During the period, profit from the new business was US$810 million, an increase of 11% on a fixed exchange rate basis (not taking into account the economic impact). Taking into account the economic impact, the profit from the new business remained roughly unchanged at US$726 million. New business margins fell 3 percentage points to 45%.
According to the company, Hong Kong's total annual premium equivalent sales increased 1% year-on-year during the period, with both local and mainland passenger segments growing. In terms of mainland passenger division business, the average premium is roughly the same as in the second half of last year, but it is lower than the same period last year. The profit margin for new businesses in Hong Kong increased from 64% to 69% year over year.