Insurance
Home›Insurance›Industry & Deals›Prudential approves $300 million buy-back after slower…
Prudential approves $300 million buy-back after slower profit growth
The insurer reported new business profit of $1.38 billion for the six months ended June 30, an 8.0% increase, alongside a 9.0% rise in adjusted operating profit.
Prudential announced a $300 million share buy-back that it plans to complete by December, after reporting slower growth in its key life insurance profitability metric for the first half of the year, according to SCMP Economy.
The company said new business profit rose 8.0% to $1.38 billion for the six months ended June 30, matching analysts’ estimates, after increasing 12.0% to $1.26 billion in the first half of 2025.
SCMP Economy reported that the buy-back and the decelerating pace of profit growth come as markets watch whether a potential pullback in mainland Chinese visitors to Hong Kong could pressure insurer performance in one of the sector’s biggest markets.
Prudential also said adjusted operating profit increased 9.0% to $1.81 billion, or 58.4 US cents per share, while annual premium equivalent sales rose 3.0% to $3.42 billion from $3.29 billion in the prior-year period.