Prudential sees new business profit growth slow, announces US$300m share buy-back

Prudential sees new business profit growth slow, announces US$300m share buy-back New business profit increases 8 per cent to US$1.38 billion in first half as market braces for potential fall in number of mainland visitors British insurer Prudential announced a US$300 million share buy-back, to be completed by December, as it reported an 8 per cent increase in new business profit for the first half of the year. The buy-back and slower profit growth came amid market concerns over a potential pullback in mainland Chinese visitors to Hong Kong that could test the performance of insurers in one of their largest markets. New business profit – a key metric tracking the future profitability of newly written life insurance policies – rose to US$1.38 billion in the six months ended June 30, the company said on Thursday. That matched analysts’ estimates. The financial results showed a lower growth rate than in the first half of 2025, when new business profit surged 12 per cent to US$1.26 billion. In the first half of this year, adjusted operating profit increased by 9 per cent to US$1.81 billion, or 58.4 US cents per share. Annual premium equivalent sales – a major sales indicator combining regular and single premiums – rose 3 per cent to US$3.42 billion, up from US$3.29 billion recorded in the same period last year. [Image text:] PRUDENTIAL3