ANALYST VIEWS: HAS PRUDENTIAL MET WITH YOUR EXPECTATIONS?
BARRIE CORNES PANMURE GORDON
Prudential has delivered interim results that were well above the top end of the range of forecasts, both on an EEV and an IFRS basis. The capital position is robust, with Insurance Group Directive surplus at £3bn at 31 July. These are good figures, and have benefited from capital preservation and focus on profitability in a tough market.
RICHARD HUNTER HARGREAVES LANSDOWN
Prudential has confirmed its credentials as a leader in its space with a set of numbers which surpassed expectations. The drop in operating profit was less than feared, while the capital cushion has doubled since the end of last year. Meanwhile, the group’s geographical diversification continues to benefit the figures, especially in the US.
MARCUS BARNARD ORIEL SECURITIES
The results are better than expected. There were a couple of one-offs, but they don’t detract from a clean performance. The cash and capital generation is good and the management have deployed it well. They have been very smart in where they have written new business, which has come through in a strong improvement in margins.