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Earnings Score 45 Bullish

Prudential PLC Reports Strong Q1 Growth; Targets Double-Digit Gains for 2026

Apr 29, 2026 06:58 UTC
PUK, PRU.L, 2378.HK
Medium term

Prudential PLC posted a 13% increase in new business profit for the first quarter, driven by strong performance in Asian markets. The company reaffirmed its confidence in achieving double-digit growth across key metrics for the full year 2026.

  • Q1 new business profit reached $686 million, a 13% year-over-year increase
  • APE sales rose to $1.82 billion, reflecting a 9% growth rate
  • Profit margins expanded to 38% from 36% in the prior year
  • Strong double-digit performance in China, Hong Kong, and Malaysia
  • Management maintains confidence in FY26 double-digit growth targets

Prudential PLC has reported a robust start to the 2026 fiscal year, with new business profits rising to $686 million in the first quarter. This represents a 13% increase compared to the $608 million recorded during the same period last year. When adjusted for constant exchange rates, new business profit grew by 10%. The growth was broad-based across the company's operational segments. Notably, the firm saw double-digit growth in key Asian markets, including Hong Kong, Mainland China, and Malaysia, underscoring the company's strategic focus on high-growth regions. Annual Premium Equivalent (APE) sales grew by 9% to $1.82 billion, up from $1.68 billion a year ago. On a constant exchange rate basis, APE sales increased by 6%. The new business profit margin also improved, rising to 38% from 36% in the previous year. CEO Anil Wadhwani attributed the results to disciplined execution and a continued focus on driving high-quality growth. The company remains on track to meet its 2027 financial objectives and expects to maintain double-digit growth throughout 2026. Despite the positive operational results, shares in Hong Kong saw a marginal decline of 0.17% to HK$118.200.

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