SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of October, 2007
PRUDENTIAL PUBLIC LIMITED COMPANY
(Translation of registrant's name into English)
LAURENCE POUNTNEY HILL,
LONDON, EC4R 0HH, ENGLAND
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F.
Form 20-F X Form 40-F
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No X
If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b): 82-
Enclosures: 3rd Quarter Results
Embargo: 07.00am Tuesday 23 October 2007
PRUDENTIAL PLC THIRD QUARTER 2007 NEW BUSINESS RESULTS
All figures in the table below are for the nine months to 30 September 2007,
with comparisons to 2006 at constant exchange rates.
APE Growth PVNBP Growth
Total Group Insurance GBP1,979 million 15% GBP14.4 billion 8%
Total Group Retail Insurance GBP1,894 million 28% GBP13.5 billion 25%
Asia GBP939 million 48% GBP 5.0 billion 52%
US GBP511 million 20% GBP 5.1 billion 20%
UK Retail GBP523 million 8% GBP 4.2 billion 6%
UK Total GBP529 million (20)% GBP 4.2 billion (26)%
Asia Fund Management Net inflows of GBP2.4 billion up 59%
M&G Net inflows of GBP3.6 billion down 30%
Mark Tucker, Group Chief Executive said:
"These new business numbers demonstrate that there is real and continued
momentum across the Group, building on the strong growth of the past two years.
"Year to date sales in our Asian life operations are up an excellent 48 per cent
compared to 2006 and have already exceeded the GBP908 million achieved for the
full year 2006.
"Jackson, our US business, has recorded further very good growth of 20 per cent
in new business overall with a 33% increase in its variable annuity market
sales, reflecting its competitive advantages in this product.
"UK retail insurance sales were up 8 per cent on the same period last year with
strong performance in individual annuities and corporate pensions, good growth
in lifetime mortgages and further demand for Prudential's with-profits products.
"In our asset management businesses, Asian net fund inflows of GBP2.4 billion
were up 59 per cent on the same period in 2006, while M&G's net fund inflows of
GBP3.6 billion were 30 per cent down on the first three quarters of last year
but still the second highest on record.
"Our strategy remains focused on the growing global market for retirement
savings and income. Our regional platforms and global capabilities place the
Group in an excellent position to capture a disproportionate share of this
opportunity."
Commentary on Third Quarter 2007 New Business Results
Asia insurance operations
Prudential's Corporation Asia's (PCA's) life operations nine month sales as at
30 September 2007 were GBP939 million, up 48 per cent compared to 2006
continuing the trend seen at the half year. Nine month sales in 2007 have
already exceeded the GBP908 million achieved for the full year 2006. The life
operations delivered new business APE of GBP320 million during the third quarter
this year, an increase of 51 per cent over the same quarter in 2006. On the
PVNBP basis sales for third quarter 2007 of GBP1.7 billion are 54 per cent
higher than the same period last year with the comparable numbers for the
nine-month period being GBP5 billion, 52 per cent higher.
The strong growth is attributable to progress with the previously stated
priorities for the region that include the further strengthening of agency
through increasing scale and improving productivity enhancing partnership
distribution, introducing health solutions and developing a holistic retirement
strategy.
In Taiwan growth in the first nine months is 90 per cent above the same period
in 2006, driven by a significant increase in agency activity rates. The momentum
seen in Taiwan during the second quarter, attributed to launch of the retirement
themed VA product, has continued beyond the initial launch period, with third
quarter sales of GBP50 million being up 67 per cent on the same period in 2006.
The new business mix remains 79 percent unit linked but margins have reverted to
more typical levels as the VA launch incentives have finished.
The pace of growth in India remains strong. Nine month sales to 30 September of
GBP126 million are up 64 per cent on the same period in 2006. Third quarter
sales are up 95 per cent with Prudential's 26 per cent share recording sales of
GBP43 million. The operation now has 256,000 agents up 98 per cent over 30
September 2006. ICICI-Prudential Life remains the leading private sector insurer
in India and has a 9.6 per cent share of the total market new business. Health
related products remain a focus and whilst these are only a small contributor to
new business volume (2 per cent) they are written at a higher margin than unit
linked products in India.
During the first half of 2007, the pace of growth in Korea had moderated
following weaker market sentiment towards linked products early on in the year,
the constraint from regulatory caps on volumes from individual bank partners and
challenges in recruiting financial consultants. However, following an incentive
programme and encouraging bancassurance with local banks Kookmin Bank and
Industrial Bank Korea the pace has picked up again during the third quarter,
resulting in nine month sales of GBP192 million, an increase of 25 per cent on
2006, and third quarter new business of GBP72 million which is 41 per cent
higher than the same period in 2006.
Hong Kong continues to record strong growth with nine month sales of GBP114
million, up 39 per cent on the same period in 2006. Third quarter new business
of GBP40 million represented a 25 per cent increase on the same period in 2006.
The key drivers were continuing momentum for linked sales in the agency channel
and a record quarter for bancassurance. We have also just launched a new
critical illness product in Hong Kong.
In Indonesia Prudential is becoming well established as the industry leader with
nine month growth of 66 per cent to GBP78 million. Growth in the third quarter
was 72 per cent to GBP31 million. Agent numbers of 44,000 at 30 September 2007
are up 10,000 over the same time last year as Prudential continues to expand its
agency channel. During September the business very successfully launched its
first takaful product.
Singapore's nine month sales of GBP89 million show 25 per cent growth on the
same period in 2006 primarily driven by improved agency productivity. Singapore
has also launched a very successful new health product with 53,000 applications
to the end of September.
Japan's new business, at GBP24 million for the first nine months, is three times
the same period last year driven by Term Life products and success with
partnership distribution.
China has reported a 77 per cent increase in the first nine months of 2007 with
the third quarter being its strongest quarter to date at GBP17 million, up 89
per cent on the same period in 2006.
Of all PCA's markets, Malaysia is currently the most challenging with growth at
9 per cent for the first nine months of 2007 compared to the same period in
2006. It is worth noting however that this exceeds the current level of market
growth in Malaysia. There are a number of initiatives to increase sales underway
including a medical plan upgrade, a new VA product and the 'What's Your Number?'
retirement campaign which has already been successful for Prudential in Hong
Kong, Korea and Taiwan.
Whilst Vietnam is a smaller contributor to growth in absolute terms, it has
returned to growth with nine month sales up 33 per cent on the same period in
2006, and we have recently received the final regulatory approvals for the
launch of unit linked products. With one of the market leading life operations,
a successful asset management operation and a newly launched consumer finance
operation, Prudential has an unparalleled platform in Vietnam.
Whilst small in absolute terms, Thailand and Philippines have also shown
encouraging growth in the third quarter.
Overall the long term prospects in Asia remain as compelling as ever and
Prudential sees no material impediments to sustained, profitable growth. We
remain focused on delivering our priorities and previously announced new
business profit targets and expect these to drive further increases in
shareholder value.
US insurance operations
Jackson, Prudential's US insurance business, delivered APE sales of GBP511
million in the first three quarters of 2007, representing a 20 per cent increase
over the same period in 2006, driven by continued growth in sales of variable
annuities. Retail APE sales of GBP432 million were up 21 per cent. APE sales in
the third quarter of 2007 were GBP159 million, up 20 per cent over the same
period in 2006. On a PVNBP basis, new business sales for the nine months to 30
September 2007 were GBP5.1 billion.
Jackson delivered record variable annuity sales of GBP3.4 billion in the first
three quarters of 2007, up 33 per cent on the corresponding period last year.
Variable annuity APE sales for the third quarter of 2007 were GBP117 million, up
37 per cent over the same period in 2006. For the half year 2007, Jackson
increased its variable annuity market share to 5.1 per cent, up from 4.6 per
cent for full year 2006, and increased its ranking to 11th in variable annuity
sales, up from 12th for full year 2006. Jackson also ranked second in variable
annuity net flows in the second quarter of 2007. This significant sales growth
performance in variable annuity sales was driven by Jackson's distinct
competitive advantages of an innovative product offering, an efficient and
flexible technology platform, a relationship-driven distribution model and award
winning customer service.
Earlier in the year, Jackson continued its track record of product innovation by
enhancing its existing variable annuity offering, namely by adding three new
guaranteed minimum withdrawal benefits (GMWBs), a new guaranteed minimum
accumulation benefit (GMAB), and several new portfolio investment options.
Jackson also launched a new line of retail mutual funds, a simplified variable
annuity, a new universal life product, and a new fixed index annuity.
Fixed annuity APE sales of GBP42 million were 11 per cent down on the same
period of 2006. APE sales in the third quarter of 2007 were GBP13 million, 30
per cent down on the same period of 2006. Industry sales of traditional fixed
annuities were 20 per cent lower at the half year compared to the same period in
2006. Entry spreads for fixed annuities continued to be challenging in the first
three quarters of 2007 and the interest rate environment limited the crediting
rates that could be offered on the products and has therefore diminished their
attractiveness to customers. Jackson ranked sixth in traditional fixed annuity
sales with a market share of 3.3 per cent in the first half of 2007 up from a
ranking of seventh and a market share of 3.1 per cent for the full year 2006.
Fixed index annuity sales continued to be affected by the uncertain regulatory
environment in the US and industry sales were 4 per cent lower at the half year
compared to the same period last year. APE sales of GBP34 million were 15 per
cent down on the same period in 2006. APE sales in the third quarter of 2007
were GBP12 million, 9 per cent down on the same period of 2006 but 11 per cent
up on the second quarter of 2007 driven by strong sales of the new product
launched in June. In the second quarter of 2007, Jackson ranked first in fixed
index annuity sales through banks for the eighth consecutive quarter.
Institutional APE sales of GBP79 million were up 13 per cent on the same period
in 2006, as Jackson continues to participate in this market on an opportunistic
basis.
Curian Capital, a specialised asset management company that provides innovative
fee-based separately managed accounts, continues to build its position in the US
retail asset management market with total assets under management at the end of
September 2007 of GBP1.6 billion ($3.3 billion) compared with GBP1.2 billion at
CER ($2.4 billion) at the end of December 2006. Curian generated record deposits
in the first three quarters of 2007 of GBP484 million, up 56 per cent on the
same period in 2006.
Jackson's fixed maturity portfolio is of high quality and its exposure to sub
prime mortgage business is modest and is through structured deals in the highest
rated ('AAA') tranches. Jackson's recognised IFRS net credit related losses for
the total fixed maturity portfolio of GBP6 million ($12 million) to the end of
September 2007. In determining IFRS operating profit, the longer-term return for
fixed income securities incorporates a risk margin reserve (RMR) charge for
longer term defaults and the net loss position for the nine months to 30
September 2007 is well below the current year RMR charge.
Jackson continues to focus on value-driven growth and is well positioned to take
advantage of the attractive opportunities in the US retirement market, through
organic growth and also through bolt-on acquisitions, where Jackson will
consider taking advantage of securitisation financing, that meet targeted rates
of return.
UK insurance operations
Overall retail APE sales in the first nine months were up 8 per cent
year-on-year to GBP523 million, driven principally by continued strong
performance in individual annuities and corporate pensions, good growth in
lifetime mortgages and demand for Prudential's with-profits products where
customers benefit from Prudential's asset allocation expertise and experience.
In line with the strategy announced in March 2007, Prudential UK has continued
to de-emphasise low margin, low persistency pension and unit-linked bond
business, which has resulted in third-quarter on third-quarter growth in retail
sales of 3 per cent to GBP165 million. On a PVNBP basis retail sales in the
first nine months were up 6 percent to GBP4.2 billion.
Total sales for Prudential UK for the first nine months of 2007 were GBP529
million, a decrease of 20 per cent over the same period last year. This was due
to two large back-book deals in the first half of 2006 which were not repeated
in 2007 as well as GBP45 million of credit life sales in the first nine months
of 2006 under a contract with Lloyds TSB that was not renewed in 2007. On a
PVNBP basis total sales were down 26 per cent to GBP4.2 billion. Prudential UK
will continue to compete selectively in the wholesale market, only writing
business that delivers an acceptable rate of return. As previously announced,
Prudential UK expects to complete the transfer of Equitable Life's portfolio of
in-force with-profit annuities in the fourth quarter of 2007 at which point it
will recognise new business premium and associated profit from this transaction.
This transaction comprises a book of 62,000 policies and assets of approximately
GBP1.7 billion. Equitable Life's Extraordinary General Meeting is scheduled for
26 October and the UK Court hearing for approval of the transfer is due on 28
November.
Individual annuity sales in the first nine months grew by 14 per cent to GBP214
million, with sales of GBP74 million in the third quarter in line with the same
quarter last year. Prudential continues to benefit from the strength of its
internal vesting pipeline with sales in the first nine months of GBP103 million
up 6 per cent on the same period last year. Annuity sales through the UK's
direct channel and its partnership deals of GBP66 million were 32 per cent
higher than last year. Prudential has recently announced a new partnership
agreement with Barclays, where Prudential UK is the preferred provider for
customers who enquire about a range of annuity options - this is on track for
launch in the fourth quarter with business flows due to start in the first
quarter of 2008.
Prudential continues to be the clear leader in the growing with-profit annuity
market with sales of GBP36 million up 43 per cent on the first nine months of
2006 and sales up 16 per cent on the third quarter of 2006.
Corporate pensions sales increased 20 per cent to GBP173 million, with sales in
the third quarter 2 per cent above the third quarter of 2006. The sales increase
was due to a combination of new scheme growth, new member growth and incremental
sales to existing schemes.
Lifetime mortgage advances in the first nine months of GBP108 million have
increased by 96 per cent on the same period in 2006, supported by growth and
development of the face-to-face sales-force as well as continued work to build
relationships in the intermediary channel. Advances in the third quarter of
GBP41 million were 64 per cent above the third quarter of 2006. Prudential UK
had grown its market share to 11.2 per cent at the end of the second quarter.
With-profit bonds sales in the first nine months of GBP27 million were up 50 per
cent on the corresponding period of 2006 on the back of impressive investment
performance of the with-profits fund over a sustained period of years. Sales in
the third quarter of GBP10 million were up 43 per cent on the same quarter last
year. Sales of PruFund, Prudential's unitised and smoothed investment plan, have
now exceeded GBP200m since launch three years ago.
Unit-linked bond sales in the first nine months of GBP23 million were down 32
per cent on 2006. Sales of GBP7 million in the third quarter were down 30 per
cent on the same quarter last year. Prudential has continued its focus on value
rather than volume and moved away from sales of the initial commission-based
unit-linked bond. Prudential launched the Prudential Investment Plan (PIP), a
factory gate priced bond, in August. PIP includes a selected range of investment
solutions, offering both with-profits and unit-linked options, including the
recently launched Cautious Managed Growth and Managed Defensive Funds, which
utilise Prudential's core asset allocation expertise. These two funds have
generated strong relative and absolute investment returns since they were
launched and are available across the full tax wrapper suite, including onshore
and offshore bonds, individual pensions and mutual funds.
Prudential welcomes the publication of the FSA's Retail Distribution Review
discussion papers which outline a number of potential changes designed to
encourage greater levels of transparency, professionalism and sustainability,
with the prime aim of increasing consumers' access to savings and their
understanding of the value of advice. Prudential is encouraged that the concept
of consumer agreed remuneration has been included as part of the Review and
believes that this is an excellent opportunity to put in place a framework that
will better align the interests of consumers, advisers and providers.
Offshore product sales in the first nine months were GBP34 million, driven by a
59 per cent increase in sales in Europe. This reflected strengthening demand for
Prudential's with-profits offering in its target markets. Although overall
offshore sales were down 29 per cent on the first nine months of 2006, this was
as a result of a large tranche of one-off business that was written with a
particular UK distributor in the first half of 2006. Sales in the third quarter
were up 16 per cent with sales in Europe up 85 per cent compared with the
corresponding quarter last year.
PruHealth continues to progress well and now covers 131,000 lives, an increase
of 47 per cent since the end of 2006. The business has continued to focus on
high quality corporate schemes and retail business and gross written premiums of
GBP45 million were up 87 per cent on the corresponding period last year. Tied
regional broker networks have recently been established to enhance our
distribution coverage.
Prudential UK and South African joint venture partner, Discovery, launched
PruProtect in September. This is an innovative new protection insurance product
offering customers life cover, income protection and severity-based serious
illness cover.
While less dependent on investment bonds than many providers in the market,
Prudential is, together with others in the industry, consulting the relevant
Government departments to seek clarity on the capital gains tax proposals in the
pre-Budget Report to avoid a detrimental impact on consumers' savings.
Prudential's multi-asset investment capability means that it can provide savings
and income products across all tax wrappers and its new income drawdown product
will provide customers with further options and opportunities to manage their
retirement provision.
Prudential UK continues to focus on the market for retirement savings and income
through selectively competing in areas where it can generate attractive returns
based on its manufacturing strengths and brand.
Asset Management
M&G
Strong fund performance led to M&G delivering gross fund inflows of GBP10.8
billion during the first nine months of 2007, an increase of 8 per cent on the
same period last year, reflecting M&G's leading positions in retail funds
management, institutional fixed income, pooled life and pension funds, property
and private finance. Net fund inflows of GBP3.6 billion, while 30 per cent
down on the first three quarters of last year, were the second highest on
record.
M&G's retail business continued to perform well, with gross fund inflows up 28
per cent to GBP6.6 billion compared to the same period last year. Net fund
inflows of GBP2.4 billion were down 5 per cent relative to the first nine months
of 2006, but were still a solid result in a more challenging sales environment.
While equity markets have proved resilient, increased volatility and uncertainty
in debt markets have had an effect on retail investor confidence. However, M&G
remains extremely well positioned in its retail markets with strongly performing
funds and an excellent UK and international distribution network, combined with
a reinvigorated brand which has been very well received by both intermediaries
and customers.
For M&G's wholesale businesses, gross fund inflows for the first nine months of
the year were GBP4.2 billion, a decrease of 13 per cent on the same period last
year. Net fund inflows of GBP1.2 billion were down 54 per cent compared to the
first three quarters of 2006. This decrease has in the main been due to
redemptions in M&G's segregated fixed income business in the third quarter due
to one-off mandate changes and the ongoing reorganisation of mandates by some
larger clients. It is worth noting that as part of this process of
reorganisation, while M&G has seen physical outflows of assets, new revenue
streams have arisen from clients' increased use of derivatives.
M&G's higher margin wholesale product lines have continued to be particularly
strong performers, with gross fund inflows doubling in the first nine months of
the year and net inflows up almost threefold. These business lines, such as
leveraged loans, Collateralised Debt Obligations (CDOs), Infrastructure Finance
and M&G's Absolute Return Business, currently account for 50 per cent of gross
inflows, producing a more profitable sales mix for M&G's third party business.
Despite the recent turmoil in structured credit markets, the performance of M&
G's range of CDOs has remained strong and the CDO team successfully closed their
most recent issue, Panther V, in August. Current market conditions are very
challenging for CDOs, although the market for synthetic transactions, in which
M&G is a leading player, remains open. M&G's leveraged loans business also saw
good inflows despite the wider market context. While activity in the leveraged
loans has been very quiet in Q3, M&G expects to be among the first CLO managers
to be able to conclude deals once activity in the market picks up
For M&G's Absolute Return Business, the 30th of September saw the reopening of
the Episode global macro fund to new investment, having been soft closed for
nine months after successfully reaching its target of $1.5 billion assets under
management. The fund saw inflows of $190 million on the first day of reopening
and M&G expects the $1 billion in new capacity on the fund to be fully
subscribed over the next six months.
Looking ahead, M&G's priorities continue to be to deliver investment
outperformance to its clients, extend distribution through existing channels and
exploit new opportunities, and to leverage its scale and capabilities to develop
innovative products for the retail and wholesale marketplaces.
Asian Fund Management Business
The Asian Fund Management business has continued to perform well in the first
nine months of 2007 with record net flows of GBP2.4 billion up 59 per cent on
the same period in 2006. This is primarily driven by net inflows in India, Japan
and Taiwan. Of the GBP2.4 billion in net flows, 60 per cent were in longer-term
equity and fixed income products with 40 per cent in shorter-term money market
funds. Net inflows for the first nine months of 2007 are almost at the same
level as the total net inflows for the full year of 2006.
Total third party funds under management were GBP16.1 billion at 30 September
2007, up 32 per cent on year end 2006. Taiwan, India and Japan were the main
contributors to the nine month growth with funds under management increasing by
58 per cent, 48 per cent and 31 per cent respectively. In Japan, the growth in
FUM was mainly attributed to net flows of GBP730 million from PCA Growing Asia
Equity Open, India Infrastructure Equity and Asia Oceania Equity funds. Taiwan's
growth was driven by the successful launch of the Asian Infrastructure Fund in
May that raised GBP220 million, a discretionary mandate from The Public Service
Pension Fund and institutional clients that contributed GBP100 million.
We continue to strengthen our distribution capability and reach in the region.
In Korea, we have successfully implemented the PCA Life distribution project
which has provided training and marketing promotion plans to support PCA Life
agents to distribute our mutual fund products. In UAE, we have established
thirteen distribution agreements since launch, with total funds under management
of over GBP250 million.
We have increased our stake in CITIC Prudential Fund Management, our joint
venture fund management company with CITIC Group in China. Our stake has
increased from 33 per cent to 49 per cent from 12 August 2007, following
approval from the regulators. Prudential and CITIC remain primary shareholders,
each with a 49 per cent share with the balance of 2 per cent being held by
China-Singapore Suzhou Industrial Park Venture Company. Notable achievements for
the CITIC-Prudential operation include launching two well received funds and
securing our participation in the Qualified Foreign Institutional Investor
(QFII) scheme. CITIC-Prudential currently acts as investment adviser to
Prudential Asset Management HK for the latter's participation in China's
domestic stock market through this scheme.
Prudential remains confident that its fund management businesses in Asia are
well placed to achieve strong and profitable growth.
ENDS
Enquiries:
Media Investors/Analysts
Jon Bunn 020 7548 3559 James Matthews 020 7548 3561
William Baldwin-Charles 020 7548 3719 Marina Novis 020 7548 3511
Notes to Editor:
1. Annual premium equivalent (APE) sales comprise regular premium sales
plus one-tenth of single premium insurance sales and are subject to rounding.
2. Present Value of New Business Premiums (PVNBP) are calculated as
equalling single premiums plus the present value of expected new business
premiums of regular premium business, allowing for lapses and other assumptions
made in determining the EEV new business contribution.
3. UK Retail sales include all products except bulk annuities and credit
life sales.
4. There will be a conference call today for wire services at 7.30am (BST)
hosted by Mark Tucker, Group Chief Executive, and Philip Broadley, Group Finance
Director. Dial in telephone number: +44 (0)20 8609 0205. Passcode: 155439#
5. There will be a conference call for investors and analysts at 09:30am
(BST) hosted by Mark Tucker, Group Chief Executive, and Philip Broadley, Group
Finance Director. From the UK please call +44 (0)20 8609 0793 and from the US
1866 793 4279. Pin number 487687#. A recording of this call will be available
for replay for one week by dialling: +44 (0)20 8609 0289 from the UK or +1 866
676 5865 from the US. The conference reference number is 160475#.
6. High resolution photographs are available to the media free of charge at
www.newscast.co.uk (+44 (0) 207 608 1000).
7. Sales for overseas operations have been reported using average exchange
rates as shown in the attached schedules. Commentary is given on the results on
a constant exchange rate basis. The two bases are compared in the table below.
Annual Premium Equivalent Sales
Actual Exchange Rates Constant Exchange Rates
2007 Q3 2006 Q3 +/- (%) 2007 Q3 2006 Q3 +/- (%)
YTD YTD YTD YTD
GBPm GBPm GBPm GBPm
UK 529 664 (20%) 529 664 (20%)
US 511 467 9% 511 427 20%
Asia 939 673 40% 939 633 48%
______ ______ ______ ______ ______ ______
Total 1,979 1,803 10% 1,979 1,723 15%
______ ______ ______ ______ ______ ______
Gross Inflows
Actual Exchange Rates Constant Exchange Rates
2007 Q3 2006 Q3 +/- (%) 2007 Q3 2006 Q3 +/- (%)
YTD YTD YTD YTD
GBPm GBPm GBPm GBPm
M&G 10,812 9,981 8% 10,812 9,981 8%
US 33 - - 33 - -
Asia 27,945 14,694 90% 27,945 14,095 98%
______ ______ ______ ______ ______ ______
Total 38,790 24,675 57% 38,790 24,076 61%
______ ______ ______ ______ ______ ______
Total Insurance and Investment New Business
Actual Exchange Rates Constant Exchange Rates
2007 Q3 2006 Q3 +/- (%) 2007 Q3 2006 Q3 +/- (%)
YTD YTD YTD YTD
GBPm GBPm GBPm GBPm
Insurance 10,788 11,185 (4%) 10,788 10,717 1%
Investment 38,790 24,675 57% 38,790 24,076 61%
______ ______ ______ ______ ______ ______
Total 49,578 35,860 38% 49,578 34,793 42%
______ ______ ______ ______ ______ ______
8. For Jackson, market share data is provided for the half year of 2007,
being the latest available. Variable annuity data is sourced from VARDS, fixed
annuity data is sourced from LIMRA and fixed index annuities data is sourced
from LIMRA and The Advantage Group.
9. Financial Calendar:
Full Year 2007 New Business Figures 29th January 2008
Full Year 2007 Results 14th March 2008
*Prudential plc, a company incorporated and with its principal place of business
in the United Kingdom, and its affiliated companies constitute one of the
world's leading financial services groups. It provides insurance and financial
services directly and through its subsidiaries and affiliates throughout the
world. It has been in existence for over 150 years and has GBP256 billion in
assets under management, (as at 30 June 2007) Prudential plc is not affiliated
in any manner with Prudential Financial, Inc, a company whose principal place of
business is in the United States of America.
Forward-Looking Statements
This statement may contain certain "forward-looking statements" with respect to
certain of Prudential's plans and its current goals and expectations relating to
its future financial condition, performance, results, strategy and objectives.
Statements containing the words "believes", "intends", "expects", "plans", "
seeks" and "anticipates", and words of similar meaning, are forward-looking. By
their nature, all forward-looking statements involve risk and uncertainty
because they relate to future events and circumstances which are beyond
Prudential's control including among other things, UK domestic and global
economic and business conditions, market related risks such as fluctuations in
interest rates and exchange rates, and the performance of financial markets
generally; the policies and actions of regulatory authorities, the impact of
competition, inflation, and deflation; experience in particular with regard to
mortality and morbidity trends, lapse rates and policy renewal rates; the
timing, impact and other uncertainties of future acquisitions or combinations
within relevant industries; and the impact of changes in capital, solvency or
accounting standards, and tax and other legislation and regulations in the
jurisdictions in which Prudential and its affiliates operate. This may for
example result in changes to assumptions used for determining results of
operations or re-estimations of reserves for future policy benefits. As a
result, Prudential's actual future financial condition, performance and results
may differ materially from the plans, goals, and expectations set forth in
Prudential's forward-looking statements. Prudential undertakes no obligation to
update the forward-looking statements contained in this statement or any other
forward-looking statements it may make.
Schedule 1A - Constant Exchange Rates
PRUDENTIAL PLC - NEW BUSINESS - NINE MONTHS 2007
TOTAL INSURANCE AND INVESTMENT NEW BUSINESS
UK US (1a) Asia Total
(1a)
2007 Q3 2006 Q3 2007 Q3 2006 Q3 2007 Q3 2006 Q3 2007 Q3 2006 Q3
YTD YTD +/-(%) YTD YTD +/-(%) YTD YTD +/-(%) YTD YTD +/-(%)
GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
Total Insurance 3,754 5,303 (29%) 4,989 4,162 20% 2,045 1,252 63% 10,788 10,717 1%
Products
Total Investment 10,812 9,981 8% 33 - - 27,945 14,095 98% 38,790 24,076 61%
Products - Gross
Inflows (2)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
14,566 15,284 (5%) 5,022 4,162 21% 29,990 15,347 95% 49,578 34,793 42%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
INSURANCE OPERATIONS
Single Regular Total Annual Equivalents (3)
2007 Q3 2006 Q3 2007 Q3 2006 Q3 2007 Q3 2006 Q3 2007 Q3 2006 Q3
YTD YTD +/-(%) YTD YTD +/-(%) YTD YTD +/-(%) YTD YTD +/-(%)
GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
UK Insurance
Operations
Product Summary
Internal Vesting 1,030 972 6% - - - 1,030 972 6% 103 97 6%
annuities
Direct and 658 501 31% - - - 658 501 31% 66 50 32%
Partnership
Annuities
Intermediated 449 404 11% - - - 449 404 11% 45 40 13%
Annuities
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Individual 2,137 1,877 14% - - - 2,137 1,877 14% 214 188 14%
Annuities ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Equity Release 108 55 96% - - - 108 55 96% 11 6 83%
Individual 27 16 69% 1 - - 28 16 75% 4 2 100%
Pensions
Corporate 121 53 128% 58 39 49% 179 92 95% 70 44 59%
Pensions
Unit Linked 200 303 (34%) - - - 200 303 (34%) 20 30 (33%)
Bonds
With-Profit 183 90 103% - - - 183 90 103% 18 9 100%
Bonds
Protection - 2 - 3 9 (67%) 3 11 (73%) 3 9 (67%)
Offshore 305 440 (31%) 3 - - 308 440 (30%) 34 44 (23%)
Products
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail 3,081 2,836 9% 65 48 35% 3,146 2,884 9% 373 332 12%
Retirement ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Corporate 168 188 (11%) 86 81 6% 254 269 (6%) 103 100 3%
Pensions
Other Products 143 180 (21%) 20 19 5% 163 199 (18%) 34 37 (8%)
DWP Rebates 129 161 (20%) - - - 129 161 (20%) 13 16 (19%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Mature 440 529 (17%) 106 100 6% 546 629 (13%) 150 153 (2%)
Life and ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Pensions
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail 3,521 3,365 5% 171 148 16% 3,692 3,513 5% 523 485 8%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Wholesale 45 1,300 (97%) - - - 45 1,300 (97%) 5 130 (96%)
Annuities
Credit Life 17 490 (97%) - - - 17 490 (97%) 2 49 (96%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK 3,583 5,155 (30%) 171 148 16% 3,754 5,303 (29%) 529 664 (20%)
Insurance ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Operations
Channel Summary
Direct and 1,737 1,594 9% 151 127 19% 1,888 1,721 10% 325 286 14%
Partnership
Intermediated 1,657 1,610 3% 20 21 (5%) 1,677 1,631 3% 186 182 2%
Wholesale 60 1,790 (97%) - - - 60 1,790 (97%) 6 179 (97%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total 3,454 4,994 (31%) 171 148 16% 3,625 5,142 (30%) 516 647 (20%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
DWP Rebates 129 161 (20%) - - - 129 161 (20%) 13 16 (19%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK 3,583 5,155 (30%) 171 148 16% 3,754 5,303 (29%) 529 664 (20%)
Insurance ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Operations
US Insurance
Operations (1a)
Fixed Annuities 421 473 (11%) - - - 421 473 (11%) 42 47 (11%)
Fixed Index 342 399 (14%) - - - 342 399 (14%) 34 40 (15%)
Annuities
Variable 3,417 2,571 33% - - - 3,417 2,571 33% 342 257 33%
Annuities
Life 5 5 0% 13 12 8% 18 17 6% 14 13 8%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total Retail 4,185 3,448 21% 13 12 8% 4,198 3,460 21% 432 357 21%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Guaranteed 260 297 (12%) - - - 260 297 (12%) 26 30 (13%)
Investment
Contracts
GIC - Medium 531 405 31% - - - 531 405 31% 53 41 29%
Term Note
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total US 4,976 4,150 20% 13 12 8% 4,989 4,162 20% 511 427 20%
Insurance ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Operations
Asian Insurance
Operations (1a)
China 55 21 162% 33 20 65% 88 41 115% 39 22 77%
Hong Kong 323 204 58% 82 62 32% 405 266 52% 114 82 39%
India (6) 20 14 43% 124 76 63% 144 90 60% 126 77 64%
Indonesia 65 16 306% 71 45 58% 136 61 123% 78 47 66%
Japan 82 37 122% 16 3 433% 98 40 145% 24 7 243%
Korea 119 72 65% 180 146 23% 299 218 37% 192 153 25%
Malaysia 20 3 567% 49 47 4% 69 50 38% 51 47 9%
Singapore 425 260 63% 46 45 2% 471 305 54% 89 71 25%
Taiwan 99 52 90% 182 96 90% 281 148 90% 192 101 90%
Other (4) 21 9 133% 33 24 38% 54 33 64% 35 25 40%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Asian 1,229 688 79% 816 564 45% 2,045 1,252 63% 939 633 48%
Insurance ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Group Total 9,788 9,993 (2%) 1,000 724 38% 10,788 10,717 1% 1,979 1,723 15%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Schedule 1B - Actual Exchange Rates
PRUDENTIAL PLC - NEW BUSINESS - NINE MONTHS 2007
TOTAL INSURANCE AND INVESTMENT NEW BUSINESS
UK US (1b) Asia Total
(1b)
2007 Q3 2006 Q3 2007 Q3 2006 Q3 2007 Q3 2006 Q3 2007 Q3 2006 Q3
YTD YTD +/-(%) YTD YTD +/-(%) YTD YTD +/-(%) YTD YTD +/-(%)
GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
Total Insurance 3,754 5,303 (29%) 4,989 4,548 10% 2,045 1,334 53% 10,788 11,185 (4%)
Products
Total Investment 10,812 9,981 8% 33 - - 27,945 14,694 90% 38,790 24,675 57%
Products - Gross
Inflows (2)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
14,566 15,284 (5%) 5,022 4,548 10% 29,990 16,028 87% 49,578 35,860 38%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
INSURANCE OPERATIONS
Single Regular Total Annual Equivalents (3)
2007 Q3 2006 Q3 2007 Q3 2006 Q3 2007 Q3 2006 Q3 2007 Q3 2006 Q3
YTD YTD +/-(%) YTD YTD +/-(%) YTD YTD +/-(%) YTD YTD +/-(%)
GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
UK Insurance
Operations
Product Summary
Internal Vesting 1,030 972 6% - - - 1,030 972 6% 103 97 6%
annuities
Direct and 658 501 31% - - - 658 501 31% 66 50 32%
Partnership
Annuities
Intermediated 449 404 11% - - - 449 404 11% 45 40 13%
Annuities
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Individual 2,137 1,877 14% - - - 2,137 1,877 14% 214 188 14%
Annuities ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Equity Release 108 55 96% - - - 108 55 96% 11 6 83%
Individual 27 16 69% 1 - - 28 16 75% 4 2 100%
Pensions
Corporate 121 53 128% 58 39 49% 179 92 95% 70 44 59%
Pensions
Unit Linked 200 303 (34%) - - - 200 303 (34%) 20 30 (33%)
Bonds
With-Profit 183 90 103% - - - 183 90 103% 18 9 100%
Bonds
Protection - 2 - 3 9 (67%) 3 11 (73%) 3 9 (67%)
Offshore 305 440 (31%) 3 - - 308 440 (30%) 34 44 (23%)
Products
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail 3,081 2,836 9% 65 48 35% 3,146 2,884 9% 373 332 12%
Retirement ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Corporate 168 188 (11%) 86 81 6% 254 269 (6%) 103 100 3%
Pensions
Other Products 143 180 (21%) 20 19 5% 163 199 (18%) 34 37 (8%)
DWP Rebates 129 161 (20%) - - - 129 161 (20%) 13 16 (19%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Mature 440 529 (17%) 106 100 6% 546 629 (13%) 150 153 (2%)
Life and ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Pensions
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail 3,521 3,365 5% 171 148 16% 3,692 3,513 5% 523 485 8%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Wholesale 45 1,300 (97%) - - - 45 1,300 (97%) 5 130 (96%)
Annuities
Credit Life 17 490 (97%) - - - 17 490 (97%) 2 49 (96%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK 3,583 5,155 (30%) 171 148 16% 3,754 5,303 (29%) 529 664 (20%)
Insurance ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Operations
Channel Summary
Direct and 1,737 1,594 9% 151 127 19% 1,888 1,721 10% 325 286 14%
Partnership
Intermediated 1,657 1,610 3% 20 21 (5%) 1,677 1,631 3% 186 182 2%
Wholesale 60 1,790 (97%) - - - 60 1,790 (97%) 6 179 (97%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total 3,454 4,994 (31%) 171 148 16% 3,625 5,142 (30%) 516 647 (20%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
DWP Rebates 129 161 (20%) - - - 129 161 (20%) 13 16 (19%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK 3,583 5,155 (30%) 171 148 16% 3,754 5,303 (29%) 529 664 (20%)
Insurance ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Operations
US Insurance
Operations (1b)
Fixed Annuities 421 516 (18%) - - - 421 516 (18%) 42 52 (19%)
Fixed Index 342 437 (22%) - - - 342 437 (22%) 34 44 (23%)
Annuities
Variable 3,417 2,809 22% - - - 3,417 2,809 22% 342 281 22%
Annuities
Life 5 6 (17%) 13 13 0% 18 19 (5%) 14 14 0%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total Retail 4,185 3,768 11% 13 13 0% 4,198 3,781 11% 432 390 11%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Guaranteed 260 325 (20%) - - - 260 325 (20%) 26 33 (21%)
Investment
Contracts
GIC - Medium 531 442 20% - - - 531 442 20% 53 44 20%
Term Note
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total US 4,976 4,535 10% 13 13 0% 4,989 4,548 10% 511 467 9%
Insurance ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Operations
Asian Insurance
Operations (1b)
China 55 22 150% 33 21 57% 88 43 105% 39 23 70%
Hong Kong 323 224 44% 82 68 21% 405 292 39% 114 90 27%
India (6) 20 14 43% 124 77 61% 144 91 58% 126 78 62%
Indonesia 65 17 282% 71 49 45% 136 66 106% 78 51 53%
Japan 82 41 100% 16 3 433% 98 44 123% 24 7 243%
Korea 119 76 57% 180 155 16% 299 231 29% 192 163 18%
Malaysia 20 3 567% 49 48 2% 69 51 35% 51 48 6%
Singapore 425 271 57% 46 47 (2%) 471 318 48% 89 74 20%
Taiwan 99 58 71% 182 106 72% 281 164 71% 192 112 71%
Other (4) 21 9 133% 33 25 32% 54 34 59% 35 26 35%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Asian 1,229 735 67% 816 599 36% 2,045 1,334 53% 939 673 40%
Insurance ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Group Total 9,788 10,425 (6%) 1,000 760 32% 10,788 11,185 (4%) 1,979 1,803 10%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Schedule 2 - Actual Exchange Rates
PRUDENTIAL PLC - NEW BUSINESS - NINE MONTHS 2007
INVESTMENT OPERATIONS
Market & Net
Opening Other Currency Movement Closing
FUM Gross Inflows Redemptions Net Movements Movements In FUM FUM
Inflows
2007 GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
M&G
Retail 19,176 6,590 (4,174) 2,416 - 692 3,108 22,284
Institutional (5) 25,770 4,222 (3,045) 1,177 (123) 799 1,853 27,623
______ ______ ______ ______ ______ ______ ______ ______
Total M&G 44,946 10,812 (7,219) 3,593 (123) 1,491 4,961 49,907
______ ______ ______ ______ ______ ______ ______ ______
Asia (9)
India 1,290 827 (812) 15 89 300 404 1,694
Taiwan 969 1,504 (1,080) 424 - 174 598 1,567
Korea 2,952 1,858 (1,825) 33 (130) 473 376 3,328
Japan 2,816 1,544 (814) 730 - 122 852 3,668
Other Mutual Fund 1,468 1,160 (925) 235 62 288 585 2,053
Operations
______ ______ ______ ______ ______ ______ ______ ______
Total Asian Equity/ 9,495 6,893 (5,456) 1,437 21 1,357 2,815 12,310
Bond/Other ______ ______ ______ ______ ______ ______ ______ ______
MMF
India 709 17,604 (16,828) 776 (152) 132 756 1,465
Taiwan 467 1,512 (1,348) 164 - (16) 148 615
Korea 609 1,669 (1,741) (72) (21) 6 (87) 522
Other Mutual Fund 133 246 (171) 75 - - 75 208
Operations
______ ______ ______ ______ ______ ______ ______ ______
Total Asian MMF 1,918 21,031 (20,088) 943 (173) 122 892 2,810
______ ______ ______ ______ ______ ______ ______ ______
______ ______ ______ ______ ______ ______ ______ ______
Total Asia Retail 11,413 27,924 (25,544) 2,380 (152) 1,479 3,707 15,120
Mutual Funds ______ ______ ______ ______ ______ ______ ______ ______
Third Party 840 21 (27) (6) - 146 140 980
Institutional
Mandates
______ ______ ______ ______ ______ ______ ______ ______
Total Asian 12,253 27,945 (25,571) 2,374 (152) 1,625 3,847 16,100
Investment Operations ______ ______ ______ ______ ______ ______ ______ ______
US
Retail - 33 (2) 31 - 1 32 32
______ ______ ______ ______ ______ ______ ______ ______
Total US - 33 (2) 31 - 1 32 32
______ ______ ______ ______ ______ ______ ______ ______
______ ______ ______ ______ ______ ______ ______ ______
Total Investment 57,199 38,790 (32,792) 5,998 (275) 3,117 8,840 66,039
Products ______ ______ ______ ______ ______ ______ ______ ______
Market & Net
Opening Other Currency Movement Closing
FUM Gross Inflows Redemptions Net Movements Movements In FUM FUM
Inflows
2006 GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
M&G
Retail 14,627 5,147 (2,597) 2,550 - 592 3,142 17,769
Institutional (5) 21,568 4,834 (2,275) 2,559 147 215 2,921 24,489
______ ______ ______ ______ ______ ______ ______ ______
Total M&G 36,195 9,981 (4,872) 5,109 147 807 6,063 42,258
______ ______ ______ ______ ______ ______ ______ ______
Asia (9)
India 1,005 647 (495) 152 (32) (127) (7) 998
Taiwan 632 668 (599) 69 - (10) 59 691
Korea 2,269 2,486 (1,522) 964 (270) 5 699 2,968
Japan 2,695 798 (749) 49 - (171) (122) 2,573
Other Mutual Fund 1,037 587 (421) 166 - (10) 156 1,193
Operations
______ ______ ______ ______ ______ ______ ______ ______
Total Asia Equity/ 7,638 5,186 (3,786) 1,400 (302) (313) 785 8,423
Bond/Other ______ ______ ______ ______ ______ ______ ______ ______
MMF
India 461 6,690 (6,444) 246 9 111 366 827
Taiwan 667 1,082 (1,199) (117) - (48) (165) 502
Korea 534 1,515 (1,535) (20) (17) 6 (31) 503
Other Mutual Fund 143 141 (134) 7 - (9) (2) 141
Operations
______ ______ ______ ______ ______ ______ ______ ______
Total Asian MMF 1,805 9,428 (9,312) 116 (8) 60 168 1,973
______ ______ ______ ______ ______ ______ ______ ______
______ ______ ______ ______ ______ ______ ______ ______
Total Asia Retail 9,443 14,614 (13,098) 1,516 (310) (253) 953 10,396
Mutual Funds ______ ______ ______ ______ ______ ______ ______ ______
Third Party 691 80 (37) 43 - 24 67 758
Institutional
Mandates
______ ______ ______ ______ ______ ______ ______ ______
Total Asian 10,134 14,694 (13,135) 1,559 (310) (229) 1,020 11,154
Investment Operations ______ ______ ______ ______ ______ ______ ______ ______
US
Retail - - - - - - - -
______ ______ ______ ______ ______ ______ ______ ______
Total US - - - - - - - -
______ ______ ______ ______ ______ ______ ______ ______
______ ______ ______ ______ ______ ______ ______ ______
Total Investment 46,329 24,675 (18,007) 6,668 (163) 578 7,083 53,412
Products ______ ______ ______ ______ ______ ______ ______ ______
Market & Net
Opening Other Currency Movement Closing
FUM Gross Inflows Redemptions Net Movements Movements In FUM FUM
Inflows
2007 Movement Relative % % % % % % % %
to 2006
M&G
Retail 31% 28% (61%) (5%) - 17% (1%) 25%
Institutional 19% (13%) (34%) (54%) (184%) 272% (37%) 13%
______ ______ ______ ______ ______ ______ ______ ______
Total M&G 24% 8% (48%) (30%) (184%) 85% (18%) 18%
______ ______ ______ ______ ______ ______ ______ ______
Asia (9)
India 28% 28% (64%) (90%) 378% 336% 5,871% 70%
Taiwan 53% 125% (80%) 514% - 1,840% 914% 127%
Korea 30% (25%) (20%) (97%) 52% 9,360% (46%) 12%
Japan 4% 93% (9%) 1,390% - 171% 798% 43%
Other Mutual Fund 42% 98% (120%) 42% - 2,980% 275% 72%
Operations
______ ______ ______ ______ ______ ______ ______ ______
Total Asia Equity/ 24% 33% (44%) 3% 107% 534% 259% 46%
Bond/Other ______ ______ ______ ______ ______ ______ ______ ______
MMF
India 54% 163% (161%) 215% (1,789%) 19% 107% 77%
Taiwan (30%) 40% (12%) 240% - 67% 190% 23%
Korea 14% 10% (13%) (260%) (24%) 0% (181%) 4%
Other Mutual Fund (7%) 74% (28%) 971% - - 3,850% 48%
Operations
______ ______ ______ ______ ______ ______ ______ ______
Total Asian MMF 6% 123% (116%) 713% (2,063%) 103% 431% 42%
______ ______ ______ ______ ______ ______ ______ ______
______ ______ ______ ______ ______ ______ ______ ______
Total Asia Retail 21% 91% (95%) 57% 51% 685% 289% 45%
Mutual Funds ______ ______ ______ ______ ______ ______ ______ ______
Third Party 22% (74%) 27% (114%) - 508% 109% 29%
Institutional
Mandates
______ ______ ______ ______ ______ ______ ______ ______
Total Asian 21% 90% (95%) 52% 51% 810% 277% 44%
Investment Operations ______ ______ ______ ______ ______ ______ ______ ______
US (7)
Retail - - - - - - - -
______ ______ ______ ______ ______ ______ ______ ______
Total US - - - - - - - -
______ ______ ______ ______ ______ ______ ______ ______
______ ______ ______ ______ ______ ______ ______ ______
Total Investment 23% 57% (82%) (10%) (69%) 439% 25% 24%
Products ______ ______ ______ ______ ______ ______ ______ ______
2007 Q3 2006 Q3
US (7) YTD YTD +/- (%)
GBPm GBPm
Curian Capital
External Funds Under 1,632 1,059 54%
Administration
Schedule 3 - Actual Exchange Rates
PRUDENTIAL PLC - NEW BUSINESS - QUARTER 3 2007 VERSUS QUARTER 3 2006
INSURANCE OPERATIONS
Single Regular Total Annual Equivalents (3)
Q3 2007 Q3 2006 +/-(%) Q3 2007 Q3 2006 +/-(%) Q3 2007 Q3 +/-(%) Q3 2007 Q3 2006 +/-(%)
2006
GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
UK Insurance
Operations
Product Summary
Internal Vesting 343 357 (4%) - - - 343 357 (4%) 34 36 (6%)
annuities
Direct and Partnership 227 228 (0%) - - - 227 228 (0%) 23 23 0%
Annuities
Intermediated 167 157 6% - - - 167 157 6% 17 16 6%
Annuities
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Individual 737 742 (1%) - - - 737 742 (1%) 74 74 0%
Annuities
Equity Release 41 25 64% - - - 41 25 64% 4 3 33%
Individual Pensions 9 6 50% 1 - - 10 6 67% 2 1 100%
Corporate Pensions 14 18 (22%) 16 7 129% 30 25 20% 17 9 89%
Unit Linked Bonds 62 90 (31%) - - - 62 90 (31%) 6 9 (33%)
With-Profit Bonds 69 36 92% - - - 69 36 92% 7 4 75%
Protection - - - 1 3 (67%) 1 3 (67%) 1 3 (67%)
Offshore Products 100 79 27% 1 - - 101 79 28% 11 8 38%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail 1,032 996 4% 19 10 90% 1,051 1,006 4% 122 110 11%
Retirement ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Corporate Pensions 58 23 152% 26 37 (30%) 84 60 40% 32 39 (18%)
Other Products 43 46 (7%) 7 6 17% 50 52 (4%) 11 11 0%
DWP Rebates - - - - - - - - - - - -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Mature Life and 101 69 46% 33 43 (23%) 134 112 20% 43 50 (14%)
Pensions ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail 1,133 1,065 6% 52 53 (2%) 1,185 1,118 6% 165 160 3%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Wholesale Annuities 7 22 (68%) - - - 7 22 (68%) 1 2 (50%)
Credit Life 2 178 (99%) - - - 2 178 (99%) - 18 -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 1,142 1,265 (10%) 52 53 (2%) 1,194 1,318 (9%) 166 180 (8%)
Operations ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Channel Summary
Direct and Partnership 586 601 (2%) 45 46 (2%) 631 647 (2%) 104 106 (2%)
Intermediated 549 464 18% 7 7 0% 556 471 18% 62 53 17%
Wholesale 7 200 (97%) - - - 7 200 (97%) 1 20 (95%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total 1,142 1,265 (10%) 52 53 (2%) 1,194 1,318 (9%) 166 180 (8%)
DWP Rebates - - - - - - - - - - - -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 1,142 1,265 (10%) 52 53 (2%) 1,194 1,318 (9%) 166 180 (8%)
Operations ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
US Insurance
Operations (5)
Fixed Annuities 130 203 (36%) - - - 130 203 (36%) 13 20 (35%)
Fixed Index Annuities 122 144 (15%) - - - 122 144 (15%) 12 14 (14%)
Variable Annuities 1,174 921 27% - - - 1,174 921 27% 117 92 27%
Life 2 2 0% 4 5 (20%) 6 7 (14%) 4 5 (20%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total Retail 1,428 1,270 12% 4 5 (20%) 1,432 1,275 12% 147 132 11%
Guaranteed Investment 127 15 747% - - - 127 15 747% 13 2 550%
Contracts
GIC - Medium Term Note (4) 104 (104%) - - - (4) 104 (104%) - 10 -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total US Insurance 1,551 1,389 12% 4 5 (20%) 1,555 1,394 12% 159 144 10%
Operations ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Asian Insurance
Operations (1b)
China 36 5 620% 13 8 63% 49 13 277% 17 9 89%
Hong Kong 124 85 46% 28 26 8% 152 111 37% 40 35 14%
India (6) 4 3 33% 43 22 95% 47 25 88% 43 22 95%
Indonesia 30 6 400% 28 18 56% 58 24 142% 31 19 63%
Japan 30 18 67% 5 2 150% 35 20 75% 8 4 100%
Korea 47 18 161% 67 52 29% 114 70 63% 72 54 33%
Malaysia 11 1 1,000% 17 17 0% 28 18 56% 18 17 6%
Singapore 119 66 80% 16 18 (11%) 135 84 61% 28 25 12%
Taiwan 36 11 227% 46 32 44% 82 43 91% 50 33 52%
Other (4) 8 3 167% 12 8 50% 20 11 82% 13 8 63%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Asian Insurance 445 216 106% 275 203 35% 720 419 72% 320 225 42%
Operations ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Group Total 3,138 2,870 9% 331 261 27% 3,469 3,131 11% 645 548 18%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
INVESTMENT OPERATIONS
Market & Net
Opening Other Currency Movement Closing
FUM Gross Redemptions Net Movements Movements In FUM FUM
Inflows Inflows
GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
M&G (5) Q3 2007 48,624 3,293 (3,067) 226 (85) 1,142 1,283 49,907
Q3 2006 40,135 3,186 (1,672) 1,514 105 504 2,123 42,258
+/-(%) 21% 3% (83%) (85%) (181%) 127% (40%) 18%
Asia Retail Mutual Q3 2007 13,677 10,463 (9,757) 706 (21) 758 1,443 15,120
Funds
Q3 2006 10,262 4,596 (4,788) (192) (40) 366 134 10,396
+/-(%) 33% 128% (104%) 468% 48% 107% 977% 45%
Asia Third Party Q3 2007 903 11 (5) 6 - 71 77 980
Q3 2006 673 71 (29) 42 - 43 85 758
+/-(%) 34% (85%) 83% (86%) - 65% (9%) 29%
US Retail Mutual Q3 2007 18 14 (1) 13 - 1 14 32
Funds
Q3 2006 - - - - - - - -
+/-(%) - - - - - - - -
Total Investment Q3 2007 63,222 13,781 (12,830) 951 (106) 1,972 2,817 66,039
Products
Q3 2006 51,070 7,853 (6,489) 1,364 65 913 2,342 53,412
+/-(%) 24% 75% (98%) (30%) (263%) 116% 20% 24%
Schedule 4 - Actual Exchange Rates
PRUDENTIAL PLC - NEW BUSINESS - QUARTER 3 2007 VERSUS QUARTER 2 2007
INSURANCE OPERATIONS
Single Regular Total Annual Equivalents (3)
Q3 2007 Q 2 +/-(%) Q3 2007 Q2 2007 +/-(%) Q3 2007 Q2 2007 +/-(%) Q3 2007 Q2 +/-(%)
2007 2007
GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
UK Insurance
Operations
Product Summary
Internal Vesting 343 362 (5%) - - - 343 362 (5%) 34 36 (6%)
annuities
Direct and Partnership 227 226 0% - - - 227 226 0% 23 23 0%
Annuities
Intermediated 167 150 11% - - - 167 150 11% 17 15 13%
Annuities
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Individual 737 738 (0%) - - - 737 738 (0%) 74 74 0%
Annuities
Equity Release 41 33 24% - - - 41 33 24% 4 3 33%
Individual Pensions 9 9 0% 1 - - 10 9 11% 2 1 100%
Corporate Pensions 14 22 (36%) 16 24 (33%) 30 46 (35%) 17 26 (35%)
Unit Linked Bonds 62 67 (7%) - - - 62 67 (7%) 6 7 (14%)
With-Profit Bonds 69 58 19% - - - 69 58 19% 7 6 17%
Protection - - - 1 1 0% 1 1 0% 1 1 0%
Offshore Products 100 78 28% 1 1 0% 101 79 28% 11 9 22%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail 1,032 1,005 3% 19 26 (27%) 1,051 1,031 2% 122 127 (4%)
Retirement ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Corporate Pensions 58 64 (9%) 26 32 (19%) 84 96 (13%) 32 38 (16%)
Other Products 43 51 (16%) 7 7 0% 50 58 (14%) 11 12 (8%)
DWP Rebates - - - - - - - - - - - -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Mature Life and 101 115 (12%) 33 39 (15%) 134 154 (13%) 43 51 (16%)
Pensions ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail 1,133 1,120 1% 52 65 (20%) 1,185 1,185 0% 165 177 (7%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Wholesale Annuities 7 35 (80%) - - - 7 35 (80%) 1 4 (75%)
Credit Life 2 5 (60%) - - - 2 5 (60%) - 1 -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 1,142 1,160 (2%) 52 65 (20%) 1,194 1,225 (3%) 166 181 (8%)
Operations ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Channel Summary
Direct and Partnership 586 561 4% 45 59 (24%) 631 620 2% 104 115 (10%)
Intermediated 549 559 (2%) 7 6 17% 556 565 (2%) 62 62 0%
Wholesale 7 40 (83%) - - - 7 40 (83%) 1 4 (75%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total 1,142 1,160 (2%) 52 65 (20%) 1,194 1,225 (3%) 166 181 (8%)
DWP Rebates - - - - - - - - - - - -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 1,142 1,160 (2%) 52 65 (20%) 1,194 1,225 (3%) 166 181 (8%)
Operations ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
US Insurance
Operations (8)
Fixed Annuities 130 157 (17%) - - - 130 157 (17%) 13 16 (19%)
Fixed Index Annuities 122 111 10% - - - 122 111 10% 12 11 9%
Variable Annuities 1,174 1,193 (2%) - - - 1,174 1,193 (2%) 117 119 (2%)
Life 2 1 100% 4 5 (20%) 6 6 0% 4 5 (20%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total Retail 1,428 1,462 (2%) 4 5 (20%) 1,432 1,467 (2%) 147 151 (3%)
Guaranteed Investment 127 1 12,600% - - - 127 1 12,600% 13 - -
Contracts
GIC - Medium Term Note (4) 200 (102%) - - - (4) 200 (102%) - 20 -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total US Insurance 1,551 1,663 (7%) 4 5 (20%) 1,555 1,668 (7%) 159 171 (7%)
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Asian Insurance
Operations (1b)
China 36 13 177% 13 9 44% 49 22 123% 17 10 70%
Hong Kong 124 97 28% 28 28 0% 152 125 22% 40 38 5%
India (6) 4 4 0% 43 25 72% 47 29 62% 43 25 72%
Indonesia 30 19 58% 28 23 22% 58 42 38% 31 25 24%
Japan 30 22 36% 5 4 25% 35 26 35% 8 6 33%
Korea 47 45 4% 67 61 10% 114 106 8% 72 66 9%
Malaysia 11 7 57% 17 18 (6%) 28 25 12% 18 19 (5%)
Singapore 119 203 (41%) 16 15 7% 135 218 (38%) 28 35 (20%)
Taiwan 36 27 33% 46 103 (55%) 82 130 (37%) 50 106 (53%)
Other (4) 8 6 33% 12 12 0% 20 18 11% 13 13 0%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Asian Insurance 445 443 0% 275 298 (8%) 720 741 (3%) 320 342 (6%)
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Group Total 3,138 3,266 (4%) 331 368 (10%) 3,469 3,634 (5%) 645 695 (7%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
INVESTMENT OPERATIONS
Market & Net
Opening Other Currency Movement Closing
FUM Gross Redemptions Net Movements Movements In FUM FUM
Inflows Inflows
GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
M&G (5) Q3 2007 48,624 3,293 (3,067) 226 (85) 1,142 1,283 49,907
Q2 2007 46,125 4,236 (2,236) 2,000 43 456 2,499 48,624
+/-(%) 5% (22%) (37%) (89%) (298%) 150% (49%) 3%
Asia Retail Mutual Q3 2007 13,677 10,463 (9,757) 706 (21) 758 1,443 15,120
Funds
Q2 2007 12,003 10,311 (9,250) 1,061 (63) 676 1,674 13,677
+/-(%) 14% 1% (5%) (33%) 67% 12% (14%) 11%
Asia Third Party Q3 2007 903 11 (5) 6 - 71 77 980
Q2 2007 835 5 (4) 1 - 67 68 903
+/-(%) 8% 120% (25%) 500% - 6% 13% 9%
US Retail Mutual Q3 2007 18 14 (1) 13 - 1 14 32
Funds
Q2 2007 5 15 (1) 14 - (1) 13 18
+/-(%) 260% (7%) 0% (7%) - - 8% 78%
Total Investment Q3 2007 63,222 13,781 (12,830) 951 (106) 1,972 2,817 66,039
Products
Q2 2007 58,968 14,567 (11,491) 3,076 (20) 1,198 4,254 63,222
+/-(%) 7% (5%) (12%) (69%) (430%) 65% (34%) 4%
Schedule 5 - Constant Exchange Rates
PRUDENTIAL PLC - NEW BUSINESS - NINE MONTHS 2007
TOTAL INSURANCE AND INVESTMENT NEW BUSINESS
UK US (1a) Asia Total
(1a)
2007 Q3 2006 Q3 2007 Q3 2006 Q3 2007 Q3 2006 Q3 2007 Q3 2006 Q3
YTD YTD +/-(%) YTD YTD +/-(%) YTD YTD +/-(%) YTD YTD +/-(%)
GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
Total Insurance 3,754 5,303 (29%) 4,989 4,162 20% 2,045 1,252 63% 10,788 10,717 1%
Products
Total Investment 10,812 9,981 8% 33 - - 27,945 14,095 98% 38,790 24,076 61%
Products - Gross
Inflows (2)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
14,566 15,284 (5%) 5,022 4,162 21% 29,990 15,347 95% 49,578 34,793 42%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
INSURANCE OPERATIONS
Single Regular Total PVNBP
2007 Q3 2006 Q3 2007 Q3 2006 Q3 2007 Q3 2006 Q3 2007 Q3 2006 Q3
YTD YTD +/-(%) YTD YTD +/-(%) YTD YTD +/-(%) YTD YTD +/-(%)
GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
UK Insurance
Operations
Product Summary
Internal Vesting 1,030 972 6% - - - 1,030 972 6% 1,030 972 6%
annuities
Direct and 658 501 31% - - - 658 501 31% 658 501 31%
Partnership
Annuities
Intermediated 449 404 11% - - - 449 404 11% 449 404 11%
Annuities
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Individual 2,137 1,877 14% - - - 2,137 1,877 14% 2,137 1,877 14%
Annuities
Equity Release 108 55 96% - - - 108 55 96% 108 55 96%
Individual Pensions 27 16 69% 1 - - 28 16 75% 29 16 81%
Corporate Pensions 121 53 128% 58 39 49% 179 92 95% 383 176 118%
Unit Linked Bonds 200 303 (34%) - - - 200 303 (34%) 200 303 (34%)
With-Profit Bonds 183 90 103% - - - 183 90 103% 183 90 103%
Protection - 2 - 3 9 (67%) 3 11 (73%) 20 39 (49%)
Offshore Products 305 440 (31%) 3 - - 308 440 (30%) 320 440 (27%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail 3,081 2,836 9% 65 48 35% 3,146 2,884 9% 3,380 2,996 13%
Retirement
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Corporate Pensions 168 188 (11%) 86 81 6% 254 269 (6%) 469 530 (12%)
Other Products 143 180 (21%) 20 19 5% 163 199 (18%) 206 267 (23%)
DWP Rebates 129 161 (20%) - - - 129 161 (20%) 129 161 (20%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Mature Life 440 529 (17%) 106 100 6% 546 629 (13%) 804 958 (16%)
and Pensions
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail 3,521 3,365 5% 171 148 16% 3,692 3,513 5% 4,184 3,954 6%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Wholesale Annuities 45 1,300 (97%) - - - 45 1,300 (97%) 45 1,300 (97%)
Credit Life 17 490 (97%) - - - 17 490 (97%) 17 490 (97%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 3,583 5,155 (30%) 171 148 16% 3,754 5,303 (29%) 4,246 5,744 (26%)
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Channel Summary
Direct and 1,737 1,594 9% 151 127 19% 1,888 1,721 10% 2,330 2,088 12%
Partnership
Intermediated 1,657 1,610 3% 20 21 (5%) 1,677 1,631 3% 1,727 1,705 1%
Wholesale 60 1,790 (97%) - - - 60 1,790 (97%) 60 1,790 (97%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total 3,454 4,994 (31%) 171 148 16% 3,625 5,142 (30%) 4,117 5,583 (26%)
DWP Rebates 129 161 (20%) - - - 129 161 (20%) 129 161 (20%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 3,583 5,155 (30%) 171 148 16% 3,754 5,303 (29%) 4,246 5,744 (26%)
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
US Insurance
Operations (1a)
Fixed Annuities 421 473 (11%) - - - 421 473 (11%) 421 473 (11%)
Fixed Index 342 399 (14%) - - - 342 399 (14%) 342 399 (14%)
Annuities
Variable Annuities 3,417 2,571 33% - - - 3,417 2,571 33% 3,417 2,571 33%
Life 5 5 0% 13 12 8% 18 17 6% 104 95 9%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total Retail 4,185 3,448 21% 13 12 8% 4,198 3,460 21% 4,284 3,538 21%
Guaranteed 260 297 (12%) - - - 260 297 (12%) 260 297 (12%)
Investment
Contracts
GIC - Medium Term 531 405 31% - - - 531 405 31% 531 405 31%
Note
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total US Insurance 4,976 4,150 20% 13 12 8% 4,989 4,162 20% 5,075 4,240 20%
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Asian Insurance
Operations (1a)
China 55 21 162% 33 20 65% 88 41 115% 203 132 54%
Hong Kong 323 204 58% 82 62 32% 405 266 52% 772 554 39%
India (6) 20 14 43% 124 76 63% 144 90 60% 509 261 95%
Indonesia 65 16 306% 71 45 58% 136 61 123% 302 169 79%
Japan 82 37 122% 16 3 433% 98 40 145% 148 49 202%
Korea 119 72 65% 180 146 23% 299 218 37% 983 689 43%
Malaysia 20 3 567% 49 47 4% 69 50 38% 286 274 4%
Singapore 425 260 63% 46 45 2% 471 305 54% 721 543 33%
Taiwan 99 52 90% 182 96 90% 281 148 90% 970 540 80%
Other (4) 21 9 133% 33 24 38% 54 33 64% 122 95 28%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Asian 1,229 688 79% 816 564 45% 2,045 1,252 63% 5,016 3,306 52%
Insurance Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Group Total 9,788 9,993 (2%) 1,000 724 38% 10,788 10,717 1% 14,337 13,290 8%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Schedule 6 - Actual Exchange Rates
PRUDENTIAL PLC - NEW BUSINESS - NINE MONTHS 2007
TOTAL INSURANCE AND INVESTMENT NEW BUSINESS
UK US (1b) Asia Total
(1b)
2007 Q3 2006 Q3 2007 Q3 2006 Q3 2007 Q3 2006 Q3 2007 Q3 2006 Q3
YTD YTD +/-(%) YTD YTD +/-(%) YTD YTD +/-(%) YTD YTD +/-(%)
GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
Total Insurance 3,754 5,303 (29%) 4,989 4,548 10% 2,045 1,334 53% 10,788 11,185 (4%)
Products
Total Investment 10,812 9,981 8% 33 - - 27,945 14,694 90% 38,790 24,675 57%
Products - Gross
Inflows (2)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
14,566 15,284 (5%) 5,022 4,548 10% 29,990 16,028 87% 49,578 35,860 38%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
INSURANCE OPERATIONS
Single Regular Total PVNBP
2007 Q3 2006 Q3 2007 Q3 2006 Q3 2007 Q3 2006 Q3 2007 Q3 2006 Q3
YTD YTD +/-(%) YTD YTD +/-(%) YTD YTD +/-(%) YTD YTD +/-(%)
GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
UK Insurance
Operations
Product Summary
Internal Vesting 1,030 972 6% - - - 1,030 972 6% 1,030 972 6%
annuities
Direct and 658 501 31% - - - 658 501 31% 658 501 31%
Partnership Annuities
Intermediated 449 404 11% - - - 449 404 11% 449 404 11%
Annuities
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Individual 2,137 1,877 14% - - - 2,137 1,877 14% 2,137 1,877 14%
Annuities
Equity Release 108 55 96% - - - 108 55 96% 108 55 96%
Individual Pensions 27 16 69% 1 - - 28 16 75% 29 16 81%
Corporate Pensions 121 53 128% 58 39 49% 179 92 95% 383 176 118%
Unit Linked Bonds 200 303 (34%) - - - 200 303 (34%) 200 303 (34%)
With-Profit Bonds 183 90 103% - - - 183 90 103% 183 90 103%
Protection - 2 - 3 9 (67%) 3 11 (73%) 20 39 (49%)
Offshore Products 305 440 (31%) 3 - - 308 440 (30%) 320 440 (27%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail 3,081 2,836 9% 65 48 35% 3,146 2,884 9% 3,380 2,996 13%
Retirement
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Corporate Pensions 168 188 (11%) 86 81 6% 254 269 (6%) 469 530 (12%)
Other Products 143 180 (21%) 20 19 5% 163 199 (18%) 206 267 (23%)
DWP Rebates 129 161 (20%) - - - 129 161 (20%) 129 161 (20%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Mature Life and 440 529 (17%) 106 100 6% 546 629 (13%) 804 958 (16%)
Pensions
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail 3,521 3,365 5% 171 148 16% 3,692 3,513 5% 4,184 3,954 6%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Wholesale Annuities 45 1,300 (97%) - - - 45 1,300 (97%) 45 1,300 (97%)
Credit Life 17 490 (97%) - - - 17 490 (97%) 17 490 (97%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 3,583 5,155 (30%) 171 148 16% 3,754 5,303 (29%) 4,246 5,744 (26%)
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Channel Summary
Direct and 1,737 1,594 9% 151 127 19% 1,888 1,721 10% 2,330 2,088 12%
Partnership
Intermediated 1,657 1,610 3% 20 21 (5%) 1,677 1,631 3% 1,727 1,705 1%
Wholesale 60 1,790 (97%) - - - 60 1,790 (97%) 60 1,790 (97%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total 3,454 4,994 (31%) 171 148 16% 3,625 5,142 (30%) 4,117 5,583 (26%)
DWP Rebates 129 161 (20%) - - - 129 161 (20%) 129 161 (20%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 3,583 5,155 (30%) 171 148 16% 3,754 5,303 (29%) 4,246 5,744 (26%)
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
US Insurance
Operations (1b)
Fixed Annuities 421 516 (18%) - - - 421 516 (18%) 421 516 (18%)
Fixed Index Annuities 342 437 (22%) - - - 342 437 (22%) 342 437 (22%)
Variable Annuities 3,417 2,809 22% - - - 3,417 2,809 22% 3,417 2,809 22%
Life 5 6 (17%) 13 13 0% 18 19 (5%) 104 104 0%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total Retail 4,185 3,768 11% 13 13 0% 4,198 3,781 11% 4,284 3,866 11%
Guaranteed Investment 260 325 (20%) - - - 260 325 (20%) 260 325 (20%)
Contracts
GIC - Medium Term 531 442 20% - - - 531 442 20% 531 442 20%
Note
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total US Insurance 4,976 4,535 10% 13 13 0% 4,989 4,548 10% 5,075 4,633 10%
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Asian Insurance
Operations (1b)
China 55 22 150% 33 21 57% 88 43 105% 203 138 47%
Hong Kong 323 224 44% 82 68 21% 405 292 39% 772 609 27%
India (6) 20 14 43% 124 77 61% 144 91 58% 509 263 94%
Indonesia 65 17 282% 71 49 45% 136 66 106% 302 183 65%
Japan 82 41 100% 16 3 433% 98 44 123% 148 55 169%
Korea 119 76 57% 180 155 16% 299 231 29% 983 730 35%
Malaysia 20 3 567% 49 48 2% 69 51 35% 286 282 1%
Singapore 425 271 57% 46 47 (2%) 471 318 48% 721 566 27%
Taiwan 99 58 71% 182 106 72% 281 164 71% 970 600 62%
Other (4) 21 9 133% 33 25 32% 54 34 59% 122 99 23%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Asian Insurance 1,229 735 67% 816 599 36% 2,045 1,334 53% 5,016 3,525 42%
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Group Total 9,788 10,425 (6%) 1,000 760 32% 10,788 11,185 (4%) 14,337 13,902 3%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Schedule 7 - Actual Exchange Rates
PRUDENTIAL PLC - NEW BUSINESS - QUARTER 3 2007 VERSUS QUARTER 3 2006
INSURANCE OPERATIONS
Single Regular Total PVNBP
Q3 2007 Q3 2006 +/-(%) Q3 2007 Q3 2006 +/-(%) Q3 2007 Q3 2006 +/-(%) Q3 2007 Q3 2006 +/-(%)
GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
UK Insurance
Operations
Product Summary
Internal Vesting 343 357 (4%) - - - 343 357 (4%) 343 357 (4%)
annuities
Direct and Partnership 227 228 (0%) - - - 227 228 (0%) 227 228 (0%)
Annuities
Intermediated 167 157 6% - - - 167 157 6% 167 157 6%
Annuities
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Individual 737 742 (1%) - - - 737 742 (1%) 737 742 (1%)
Annuities
Equity Release 41 25 64% - - - 41 25 64% 41 25 64%
Individual Pensions 9 6 50% 1 - - 10 6 67% 9 6 50%
Corporate Pensions 14 18 (22%) 16 7 129% 30 25 20% 87 52 67%
Unit Linked Bonds 62 90 (31%) - - - 62 90 (31%) 62 90 (31%)
With-Profit Bonds 69 36 92% - - - 69 36 92% 69 36 92%
Protection - - - 1 3 (67%) 1 3 (67%) 6 18 (67%)
Offshore Products 100 79 27% 1 - - 101 79 28% 105 79 33%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail 1,032 996 4% 19 10 90% 1,051 1,006 4% 1,116 1,048 6%
Retirement
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Corporate Pensions 58 23 152% 26 37 (30%) 84 60 40% 155 180 (14%)
Other Products 43 46 (7%) 7 6 17% 50 52 (4%) 61 92 (34%)
DWP Rebates - - - - - - - - - - - -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Mature Life and 101 69 46% 33 43 (23%) 134 112 20% 216 272 (21%)
Pensions
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail 1,133 1,065 6% 52 53 (2%) 1,185 1,118 6% 1,332 1,320 1%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Wholesale Annuities 7 22 (68%) - - - 7 22 (68%) 7 22 (68%)
Credit Life 2 178 (99%) - - - 2 178 (99%) 2 178 (99%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 1,142 1,265 (10%) 52 53 (2%) 1,194 1,318 (9%) 1,341 1,520 (12%)
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Channel Summary
Direct and Partnership 586 601 (2%) 45 46 (2%) 631 647 (2%) 763 800 (5%)
Intermediated 549 464 18% 7 7 0% 556 471 18% 571 520 10%
Wholesale 7 200 (97%) - - - 7 200 (97%) 7 200 (97%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total 1,142 1,265 (10%) 52 53 (2%) 1,194 1,318 (9%) 1,341 1,520 (12%)
DWP Rebates - - - - - - - - - - - -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 1,142 1,265 (10%) 52 53 (2%) 1,194 1,318 (9%) 1,341 1,520 (12%)
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
US Insurance
Operations (8)
Fixed Annuities 130 203 (36%) - - - 130 203 (36%) 130 203 (36%)
Fixed Index Annuities 122 144 (15%) - - - 122 144 (15%) 122 144 (15%)
Variable Annuities 1,174 921 27% - - - 1,174 921 27% 1,174 921 27%
Life 2 2 0% 4 5 (20%) 6 7 (14%) 36 37 (3%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total Retail 1,428 1,270 12% 4 5 (20%) 1,432 1,275 12% 1,462 1,305 12%
Guaranteed Investment 127 15 747% - - - 127 15 747% 127 15 747%
Contracts
GIC - Medium Term Note (4) 104 (104%) - - - (4) 104 (104%) (4) 104 (104%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total US Insurance 1,551 1,389 12% 4 5 (20%) 1,555 1,394 12% 1,585 1,424 11%
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Asian Insurance
Operations (1b)
China 36 5 620% 13 8 63% 49 13 277% 91 50 82%
Hong Kong 124 85 46% 28 26 8% 152 111 37% 279 249 12%
India (6) 4 3 33% 43 22 95% 47 25 88% 169 86 97%
Indonesia 30 6 400% 28 18 56% 58 24 142% 124 66 88%
Japan 30 18 67% 5 2 150% 35 20 75% 51 25 104%
Korea 47 18 161% 67 52 29% 114 70 63% 375 238 58%
Malaysia 11 1 1,000% 17 17 0% 28 18 56% 100 97 3%
Singapore 119 66 80% 16 18 (11%) 135 84 61% 237 175 35%
Taiwan 36 11 227% 46 32 44% 82 43 91% 259 179 45%
Other (4) 8 3 167% 12 8 50% 20 11 82% 45 32 41%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Asian Insurance 445 216 106% 275 203 35% 720 419 72% 1,730 1,197 45%
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Group Total 3,138 2,870 9% 331 261 27% 3,469 3,131 11% 4,656 4,141 12%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
INVESTMENT OPERATIONS
Market & Net
Opening Other Currency Movement Closing
FUM Gross Redemptions Net Movements Movements In FUM FUM
Inflows Inflows
GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBP
m
M&G (5) Q3 2007 48,624 3,293 (3,067) 226 (85) 1,142 1,283 49,907
Q3 2006 40,135 3,186 (1,672) 1,514 105 504 2,123 42,258
+/-(%) 21% 3% (83%) (85%) (181%) 127% (40%) 18%
Asia Retail Mutual Q3 2007 13,677 10,463 (9,757) 706 (21) 758 1,443 15,120
Funds
Q3 2006 10,262 4,596 (4,788) (192) (40) 366 134 10,396
+/-(%) 33% 128% (104%) 468% 48% 107% 977% 45%
Asia Third Party Q3 2007 903 11 (5) 6 - 71 77 980
Q3 2006 673 71 (29) 42 - 43 85 758
+/-(%) 34% (85%) 83% (86%) - 65% (9%) 29%
US Retail Mutual Q3 2007 18 14 (1) 13 - 1 14 32
Funds
Q3 2006 - - - - - - - -
+/-(%) - - - - - - - -
Total Investment Q3 2007 63,222 13,781 (12,830) 951 (106) 1,972 2,817 66,039
Products
Q3 2006 51,070 7,853 (6,489) 1,364 65 913 2,342 53,412
+/-(%) 24% 75% (98%) (30%) (263%) 116% 20% 24%
Schedule 8 - Actual Exchange Rates
PRUDENTIAL PLC - NEW BUSINESS - QUARTER 3 2007 VERSUS QUARTER 2 2007
INSURANCE OPERATIONS
Single Regular Total PVNBP
Q3 2007 Q 2 +/-(%) Q3 2007 Q2 2007 +/-(%) Q3 2007 Q2 2007 +/-(%) Q3 2007 Q 2 +/-(%)
2007 2007
GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
UK Insurance
Operations
Product Summary
Internal Vesting 343 362 (5%) - - - 343 362 (5%) 343 362 (5%)
annuities
Direct and Partnership 227 226 0% - - - 227 226 0% 227 226 0%
Annuities
Intermediated 167 150 11% - - - 167 150 11% 167 150 11%
Annuities
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Individual 737 738 (0%) - - - 737 738 (0%) 737 738 (0%)
Annuities
Equity Release 41 33 24% - - - 41 33 24% 41 33 24%
Individual Pensions 9 9 0% 1 - - 10 9 11% 9 11 (18%)
Corporate Pensions 14 22 (36%) 16 24 (33%) 30 46 (35%) 87 138 (37%)
Unit Linked Bonds 62 67 (7%) - - - 62 67 (7%) 62 67 (7%)
With-Profit Bonds 69 58 19% - - - 69 58 19% 69 58 19%
Protection - - - 1 1 0% 1 1 0% 6 7 (14%)
Offshore Products 100 78 28% 1 1 0% 101 79 28% 105 84 25%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail 1,032 1,005 3% 19 26 (27%) 1,051 1,031 2% 1,116 1,136 (2%)
Retirement
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Corporate Pensions 58 64 (9%) 26 32 (19%) 84 96 (13%) 155 165 (6%)
Other Products 43 51 (16%) 7 7 0% 50 58 (14%) 61 74 (18%)
DWP Rebates - - - - - - - - - - - -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Mature Life and 101 115 (12%) 33 39 (15%) 134 154 (13%) 216 239 (10%)
Pensions
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail 1,133 1,120 1% 52 65 (20%) 1,185 1,185 0% 1,332 1,375 (3%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Wholesale Annuities 7 35 (80%) - - - 7 35 (80%) 7 35 (80%)
Credit Life 2 5 (60%) - - - 2 5 (60%) 2 5 (60%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 1,142 1,160 (2%) 52 65 (20%) 1,194 1,225 (3%) 1,341 1,415 (5%)
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Channel Summary
Direct and Partnership 586 561 4% 45 59 (24%) 631 620 2% 763 794 (4%)
Intermediated 549 559 (2%) 7 6 17% 556 565 (2%) 571 581 (2%)
Wholesale 7 40 (83%) - - - 7 40 (83%) 7 40 (83%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total 1,142 1,160 (2%) 52 65 (20%) 1,194 1,225 (3%) 1,341 1,415 (5%)
DWP Rebates - - - - - - - - - - - -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 1,142 1,160 (2%) 52 65 (20%) 1,194 1,225 (3%) 1,341 1,415 (5%)
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
US Insurance
Operations (8)
Fixed Annuities 130 157 (17%) - - - 130 157 (17%) 130 157 (17%)
Fixed Index Annuities 122 111 10% - - - 122 111 10% 122 111 10%
Variable Annuities 1,174 1,193 (2%) - - - 1,174 1,193 (2%) 1,174 1,193 (2%)
Life 2 1 100% 4 5 (20%) 6 6 0% 36 32 13%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total Retail 1,428 1,462 (2%) 4 5 (20%) 1,432 1,467 (2%) 1,462 1,493 (2%)
Guaranteed Investment 127 1 12,600% - - - 127 1 12,600% 127 1 12,600%
Contracts
GIC - Medium Term Note (4) 200 (102%) - - - (4) 200 (102%) (4) 200 (102%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total US Insurance 1,551 1,663 (7%) 4 5 (20%) 1,555 1,668 (7%) 1,585 1,694 (6%)
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Asian Insurance
Operations (1b)
China 36 13 177% 13 9 44% 49 22 123% 91 55 65%
Hong Kong 124 97 28% 28 28 0% 152 125 22% 279 246 13%
India (6) 4 4 0% 43 25 72% 47 29 62% 169 105 61%
Indonesia 30 19 58% 28 23 22% 58 42 38% 124 97 28%
Japan 30 22 36% 5 4 25% 35 26 35% 51 37 38%
Korea 47 45 4% 67 61 10% 114 106 8% 375 329 14%
Malaysia 11 7 57% 17 18 (6%) 28 25 12% 100 103 (3%)
Singapore 119 203 (41%) 16 15 7% 135 218 (38%) 237 290 (18%)
Taiwan 36 27 33% 46 103 (55%) 82 130 (37%) 259 525 (51%)
Other (4) 8 6 33% 12 12 0% 20 18 11% 45 41 10%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Asian Insurance 445 443 0% 275 298 (8%) 720 741 (3%) 1,730 1,828 (5%)
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Group Total 3,138 3,266 (4%) 331 368 (10%) 3,469 3,634 (5%) 4,656 4,937 (6%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
INVESTMENT OPERATIONS
Market & Net
Opening Other Currency Movement Closing
FUM Gross Redemptions Net Movements Movements In FUM FUM
Inflows Inflows
GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
M&G (5) Q3 2007 48,624 3,293 (3,067) 226 (85) 1,142 1,283 49,907
Q2 2007 46,125 4,236 (2,236) 2,000 43 456 2,499 48,624
+/-(%) 5% (22%) (37%) (89%) (298%) 150% (49%) 3%
Asia Retail Mutual Q3 2007 13,677 10,463 (9,757) 706 (21) 758 1,443 15,120
Funds
Q2 2007 12,003 10,311 (9,250) 1,061 (63) 676 1,674 13,677
+/-(%) 14% 1% (5%) (33%) 67% 12% (14%) 11%
Asia Third Party Q3 2007 903 11 (5) 6 - 71 77 980
Q2 2007 835 5 (4) 1 - 67 68 903
+/-(%) 8% 120% (25%) 500% - 6% 13% 9%
US Retail Mutual Q3 2007 18 14 (1) 13 - 1 14 32
Funds
Q2 2007 5 15 (1) 14 - (1) 13 18
+/-(%) 260% (7%) 0% (7%) - - 8% 78%
Total Investment Q3 2007 63,222 13,781 (12,830) 951 (106) 1,972 2,817 66,039
Products
Q2 2007 58,968 14,567 (11,491) 3,076 (20) 1,198 4,254 63,222
+/-(%) 7% (5%) (12%) (69%) (430%) 65% (34%) 4%
Prudential plc - New Business Schedules
Basis of preparation
The new business schedules are provided as an indicative volume measure of
transactions undertaken in the reporting period that have the potential to
generate profits for shareholders. The amounts shown are not, and not intended
to be, reflective of premium income recorded in the IFRS income statement.
The format of the schedules is consistent with the distinction between insurance
and investment products as applied for previous financial reporting periods.
Products categorised as "insurance" refer to those classified as contracts of
long-term insurance business for regulatory reporting purposes, i.e. falling
within one of the classes of insurance specified in part II of Schedule 1 to the
Regulated Activities Order under FSA regulations.
The details shown for insurance products include contributions for contracts
that are classified under IFRS 4 "Insurance Contracts" as not containing
significant insurance risk. These products are described as investment contracts
or other financial instruments under IFRS. Contracts included in this category
are primarily certain unit-linked and similar contracts written in UK Insurance
Operations, and Guaranteed Investment Contracts and similar funding agreements
written in US Operations.
New business premiums for regular premium products are shown on an annualised
basis. Department of Work and Pensions rebate business is classified as single
recurrent business. Internal vesting business is classified as new business
where the contracts include an open market option. New Department of Work and
Pensions rebate business for SAIF is excluded from the new business schedules.
This is because SAIF is solely for the benefit of SAIF policyholders.
Investment products referred to in the tables for funds under management are
unit trusts, mutual funds and similar types of retail fund management
arrangements. These are unrelated to insurance products that are classified as
investment contracts under IFRS 4, as described in the preceding paragraph,
although similar IFRS recognition and measurement principles apply to the
acquisition costs and fees attaching to this type of business.
The premiums for the first nine months of 2006 for wholesale annuities for UK
Insurance operations include GBP592m for a bulk annuity transaction with the
Scottish Amicable Insurance Fund (SAIF). SAIF is a closed-ring fenced sub-fund
established by a Court approved Scheme of Arrangement in October 1997, which is
solely for the benefit of SAIF policyholders. Shareholders have no interest in
the profits of this fund, although they are entitled to investment management
fees on this business.
From 12 August 2007 the shareholding in CITIC-Prudential funds operation in
China has increased from 33% to 49%
Notes to Schedules 1A - 8
(1a) Insurance and investment new business for overseas operations has been
calculated using constant exchange rates. The applicable rate for Jackson is
1.99.
(1b) Insurance and investment new business for overseas operations has been
calculated using average exchange rates. The applicable rate for Jackson is
1.99 (2006: 1.82).
(2) Represents cash received from sale of investment products.
(3) Annual Equivalents, calculated as regular new business contributions plus 10
per cent single new business contributions, are subject to roundings. PVNBPs are
calculated as equalling single premiums plus the present value of expected
premiums of new regular premium business. In determining the present value,
allowance is made for lapses and other assumptions applied in determining the
EEV new business profit.
(4) In Asia, 'Other' insurance operations include Thailand, the Philippines and
Vietnam.
(5) Balance includes segregated and pooled pension funds, private finance assets
and other institutional clients. Other movements reflect the net flows arising
from the cash component of a tactical asset allocation fund managed by PPM South
Africa.
(6) New business in India is included at Prudential's 26 per cent interest in
the India life operation. Mandatory Provident Fund (MPF) product sales in Hong
Kong are included at Prudential's 36 per cent interest in Hong Kong MPF
operation.
(7) Balance sheet figures have been calculated at the closing exchange rate. The
2006 balance is shown on a constant exchange rate.
(8) Sales are converted using the year to date average exchange rate applicable
at the time. The sterling results for individual quarters represent the
difference between the year to date reported sterling results at successive
quarters and will include foreign exchange movements from earlier periods.
(9) GBP339m of FUM and GBP16m of net flows reported under Prudential Asian funds
operations relate to M&G's products distributed through those Asian operations
and this amount is also included in M&G's FUM.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Date 23 October 2007
PRUDENTIAL PUBLIC LIMITED COMPANY
By: /s/ Jon Bunn
Jon Bunn
Director of Public Relations