The annual financial statements focus on key financial ratios, respectively at constant (and actual) exchange rates, as follows:

· New business profit increased by 45% at constant exchange rates (43% at current exchange rates) to USD 3,125 million. Excluding the impact of interest rates and economic fluctuations, new business profit increased by 47% (45%).

· The attributable operating surplus generated from active insurance contracts and asset management activities amounts to USD 2,740 million. In 2022, this figure is USD 2,725 million (USD 2,760 million)

· Adjusted operating profit reached 2,893 million USD - up 8% (6%).

· EEV equity increased 7 % to $45.3 billion, or 1,643 cents per share, on an annualized equivalent rate (AER) basis.

· Surplus capital under the GWS (Group-worldwide supervision) framework compared to the GPCR (Group Prescribed Capital Requirement) is USD 16.1 billion, equivalent to a solvency ratio of 295% (calculated at 307% as of December 31, 2022).

· Second interim dividend of 14.21 cents per share and 2023 dividend of 20.47 cents per share - up 9%.

Mr. Anil Wadhwani - CEO of Prudential Group said : "This is a series of very impressive business results when operating in a challenging macroeconomic context, with profits from new mining activities . increased by 45% thanks to our focus and relentless efforts in the Asian and African markets. These results not only demonstrate our effective operations in both the agency and bancassurance channels, but also affirm Prudential's leading position in many key markets."

“Six months into our new strategy, it is encouraging to see early successes in improving customer experience, increasing the use of technology to support distribution and transforming our health business model. Prudential has a talented senior leadership team in these areas and is continuing to add talent in key markets and invest in capabilities in line with our strategic priorities.”

“We have delivered strong financial and operational results in 2023, while increasing capital in new businesses, enhancing core capabilities and expanding distribution. Sales continued to grow in the first two months of 2024. With our continued focus on executing our strategy, we are increasingly confident of achieving our financial and other strategic targets by 2027 and accelerating value creation for our shareholders,” he added.

See the full report here .

About Prudential Corporation

Prudential plc provides life, health and wealth insurance solutions in 24 markets across Asia and Africa. Prudential's mission is to be the most trusted companion and protector for today and future generations, by providing simple and accessible financial and health solutions. The Group is primarily listed on the Hong Kong Stock Exchange (stock code: 2378) and the London Stock Exchange (stock code: PRU). It also has a secondary listing on the Singapore Stock Exchange (stock code: K6S) and a listing on the New York Stock Exchange (stock code: PUK) as an American Depositary Receipt. The Group is a component of the Hang Seng Composite Index and is also traded on the Shenzhen-Hong Kong and Shanghai-Hong Kong Stock Connects.

Prudential Corporation operates independently and is not affiliated in any way with Prudential Financial, Inc., a company operating in the United States, or Prudential Assurance Company, a subsidiary of M&G plc incorporated in the United Kingdom.

https://www.prudentialplc.com/