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July 23, 2017

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UK insurer Prudential posts rising first-quarter revenues and profits

LONDON--British insurer Prudential on Thursday posted rising first-quarter revenues and profits, aided by growth in Asia, Britain and the United States.

Group revenues swelled 13 percent to 1.18 billion pounds (US$1.99 billion) in the three months to the end of March, compared with a year earlier, Prudential said in a results statement.

New business profit — an industry measure that takes into account the expected future value of policies written in the period — climbed 29 percent to 529 million pounds (US$737 million) in the first quarter.

"Our businesses continue to perform well and have made a strong start to 2014," chief executive Tidjane Thiam said in the earnings release.

"We remain focused on the disciplined execution of our strategy and on capturing the profitable growth opportunities available to us across the group, particularly in Asia."

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