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, 2009
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: Interim Management Statement - Part 2
Schedule 1A - Actual Exchange Rates
TOTAL INSURANCE AND INVESTMENT NEW BUSINESS
|
UK |
|
US (1a) |
|
|
Asia (1a) |
|
Total |
|||||
|
|||||||||||||
2009 Q3 |
2008 Q3 |
2009 Q3 |
2008 Q3 |
2009 Q3 |
2008 Q3 |
2009 Q3 |
2008 Q3 |
||||||
YTD |
YTD |
+/-(%) |
YTD |
YTD |
+/-(%) |
YTD |
YTD |
+/-(%) |
YTD |
YTD |
+/-(%) |
||
|
£m |
£m |
£m |
£m |
£m |
£m |
£m |
£m |
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Insurance Products |
3,695 |
5,730 |
(36%) |
6,242 |
5,214 |
20% |
1,350 |
1,988 |
(32%) |
11,287 |
12,932 |
(13%) |
|
Total Investment Products Gross Inflows (2) |
18,441 |
12,114 |
52% |
6 |
32 |
(81%) |
52,668 |
34,412 |
53% |
71,115 |
46,558 |
53% |
|
22,136 |
17,844 |
24% |
6,248 |
5,246 |
19% |
54,018 |
36,400 |
48% |
|
82,402 |
59,490 |
39% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INSURANCE OPERATIONS
|
|
Single |
|
|
Regular |
|
|
Total |
|
|
Annual Equivalents (3) |
||
2009 Q3 |
2008 Q3 |
2009 Q3 |
2008 Q3 |
2009 Q3 |
2008 Q3 |
2009 Q3 |
2008 Q3 |
||||||
YTD |
YTD |
+/-(%) |
YTD |
YTD |
+/-(%) |
YTD |
YTD |
+/-(%) |
YTD |
YTD |
+/-(%) |
||
|
£m |
£m |
|
£m |
£m |
|
£m |
£m |
|
|
£m |
£m |
|
UK Insurance Operations |
|
||||||||||||
Product Summary |
|
||||||||||||
Internal Vesting annuities |
1,023 |
1,129 |
(9%) |
- |
- |
- |
1,023 |
1,129 |
(9%) |
102 |
113 |
(10%) |
|
Direct and Partnership Annuities |
424 |
550 |
(23%) |
- |
- |
- |
424 |
550 |
(23%) |
42 |
55 |
(24%) |
|
Intermediated Annuities |
196 |
401 |
(51%) |
- |
- |
- |
196 |
401 |
(51%) |
20 |
40 |
(50%) |
|
Total Individual Annuities |
1,643 |
2,080 |
(21%) |
- |
- |
- |
1,643 |
2,080 |
(21%) |
|
164 |
208 |
(21%) |
|
|||||||||||||
Income Drawdown |
70 |
54 |
30% |
- |
- |
- |
70 |
54 |
30% |
7 |
5 |
40% |
|
Equity Release |
84 |
188 |
(55%) |
- |
- |
- |
84 |
188 |
(55%) |
8 |
19 |
(58%) |
|
Individual Pensions |
145 |
52 |
179% |
5 |
2 |
150% |
150 |
54 |
178% |
20 |
7 |
186% |
|
Corporate Pensions |
55 |
154 |
(64%) |
61 |
64 |
(5%) |
116 |
218 |
(47%) |
67 |
79 |
(15%) |
|
Unit Linked Bonds |
83 |
88 |
(6%) |
- |
- |
- |
83 |
88 |
(6%) |
8 |
9 |
(11%) |
|
With-Profit Bonds |
969 |
651 |
49% |
- |
- |
- |
969 |
651 |
49% |
97 |
65 |
49% |
|
Protection |
- |
- |
- |
12 |
4 |
200% |
12 |
4 |
200% |
12 |
4 |
200% |
|
Offshore Products |
207 |
447 |
(54%) |
3 |
3 |
0% |
210 |
450 |
(53%) |
24 |
48 |
(50%) |
|
Pru Health (11) |
- |
- |
- |
9 |
14 |
(36%) |
9 |
14 |
(36%) |
9 |
14 |
(36%) |
|
Total Retail Retirement |
3,256 |
3,714 |
(12%) |
90 |
87 |
3% |
3,346 |
3,801 |
(12%) |
|
416 |
458 |
(9%) |
|
|||||||||||||
Corporate Pensions |
88 |
227 |
(61%) |
80 |
88 |
(9%) |
168 |
315 |
(47%) |
89 |
111 |
(20%) |
|
Other Products |
59 |
113 |
(48%) |
13 |
17 |
(24%) |
72 |
130 |
(45%) |
19 |
28 |
(32%) |
|
DWP Rebates |
80 |
103 |
(22%) |
- |
- |
- |
80 |
103 |
(22%) |
8 |
10 |
(20%) |
|
Total Mature Life and Pensions |
227 |
443 |
(49%) |
93 |
105 |
(11%) |
320 |
548 |
(42%) |
|
116 |
149 |
(22%) |
|
|||||||||||||
Total Retail |
3,483 |
4,157 |
(16%) |
183 |
192 |
(5%) |
3,666 |
4,349 |
(16%) |
|
531 |
608 |
(13%) |
|
|||||||||||||
Wholesale Annuities |
12 |
1,370 |
(99%) |
- |
- |
- |
12 |
1,370 |
(99%) |
1 |
137 |
(99%) |
|
|
|||||||||||||
Credit Life |
17 |
11 |
55% |
- |
- |
- |
17 |
11 |
55% |
2 |
1 |
100% |
|
|
|||||||||||||
Total UK Insurance Operations |
3,512 |
5,538 |
(37%) |
183 |
192 |
(5%) |
3,695 |
5,730 |
(36%) |
|
534 |
746 |
(28%) |
|
|||||||||||||
Channel Summary |
|
||||||||||||
Direct and Partnership |
1,347 |
1,729 |
(22%) |
149 |
161 |
(7%) |
1,496 |
1,890 |
(21%) |
284 |
334 |
(15%) |
|
Intermediated |
2,056 |
2,326 |
(12%) |
34 |
31 |
10% |
2,090 |
2,357 |
(11%) |
240 |
264 |
(9%) |
|
Wholesale |
29 |
1,380 |
(98%) |
- |
- |
- |
29 |
1,380 |
(98%) |
3 |
138 |
(98%) |
|
Sub-Total |
3,432 |
5,435 |
(37%) |
183 |
192 |
(5%) |
3,615 |
5,627 |
(36%) |
|
526 |
736 |
(29%) |
|
|||||||||||||
DWP Rebates |
80 |
103 |
(22%) |
- |
- |
- |
80 |
103 |
(22%) |
8 |
10 |
(20%) |
|
|
|||||||||||||
Total UK Insurance Operations |
3,512 |
5,538 |
(37%) |
183 |
192 |
(5%) |
3,695 |
5,730 |
(36%) |
|
534 |
746 |
(28%) |
|
|||||||||||||
US Insurance Operations (1a) |
|
||||||||||||
Fixed Annuities |
841 |
1,141 |
(26%) |
- |
- |
- |
841 |
1,141 |
(26%) |
84 |
114 |
(26%) |
|
Fixed Index Annuities |
1,055 |
317 |
233% |
- |
- |
- |
1,055 |
317 |
233% |
106 |
32 |
231% |
|
Variable Annuities |
4,321 |
2,596 |
66% |
- |
- |
- |
4,321 |
2,596 |
66% |
432 |
260 |
66% |
|
Life |
7 |
6 |
17% |
18 |
18 |
0% |
25 |
24 |
4% |
19 |
19 |
0% |
|
Sub-Total Retail |
6,224 |
4,060 |
53% |
18 |
18 |
0% |
6,242 |
4,078 |
53% |
|
640 |
424 |
51% |
Guaranteed Investment Contracts |
- |
815 |
- |
- |
- |
- |
- |
815 |
- |
- |
82 |
- |
|
GIC - Medium Term Note |
- |
321 |
- |
- |
- |
- |
- |
321 |
- |
- |
32 |
- |
|
Total US Insurance Operations |
6,224 |
5,196 |
20% |
18 |
18 |
0% |
6,242 |
5,214 |
20% |
|
640 |
538 |
19% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asian Insurance Operations (1a) |
|
||||||||||||
China (9) |
58 |
47 |
23% |
28 |
23 |
22% |
86 |
70 |
23% |
34 |
28 |
21% |
|
Hong Kong |
64 |
460 |
(86%) |
144 |
113 |
27% |
208 |
573 |
(64%) |
150 |
159 |
(6%) |
|
India (6) |
37 |
53 |
(30%) |
112 |
168 |
(33%) |
149 |
221 |
(33%) |
116 |
173 |
(33%) |
|
Indonesia |
24 |
85 |
(72%) |
124 |
121 |
2% |
148 |
206 |
(28%) |
126 |
130 |
(3%) |
|
Japan |
50 |
94 |
(47%) |
35 |
24 |
46% |
85 |
118 |
(28%) |
40 |
33 |
21% |
|
Korea |
28 |
63 |
(56%) |
93 |
176 |
(47%) |
121 |
239 |
(49%) |
96 |
182 |
(47%) |
|
Malaysia |
50 |
22 |
127% |
79 |
64 |
23% |
129 |
86 |
50% |
84 |
66 |
27% |
|
Singapore |
162 |
306 |
(47%) |
64 |
56 |
14% |
226 |
362 |
(38%) |
80 |
87 |
(8%) |
|
Taiwan |
70 |
33 |
112% |
70 |
26 |
169% |
140 |
59 |
137% |
77 |
29 |
166% |
|
Other (4) |
17 |
14 |
21% |
41 |
40 |
3% |
58 |
54 |
7% |
43 |
41 |
5% |
|
Total Asian Insurance Operations |
560 |
1,177 |
(52%) |
790 |
811 |
(3%) |
1,350 |
1,988 |
(32%) |
|
846 |
929 |
(9%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Group Total |
10,296 |
11,911 |
(14%) |
991 |
1,021 |
(3%) |
11,287 |
12,932 |
(13%) |
|
2,020 |
2,212 |
(9%) |
Schedule 1B - Constant Exchange Rates
PRUDENTIAL PLC - NEW BUSINESS - NINE MONTHS 2009
TOTAL INSURANCE AND INVESTMENT NEW BUSINESS
|
UK |
|
US (1b) |
|
|
Asia (1b) |
|
Total |
|||||
|
|||||||||||||
2009 Q3 |
2008 Q3 |
2009 Q3 |
2008 Q3 |
2009 Q3 |
2008 Q3 |
2009 Q3 |
2008 Q3 |
||||||
YTD |
YTD |
+/-(%) |
YTD |
YTD |
+/-(%) |
YTD |
YTD |
+/-(%) |
YTD |
YTD |
+/-(%) |
||
|
£m |
£m |
£m |
£m |
£m |
£m |
£m |
£m |
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Insurance Products |
3,695 |
5,730 |
(36%) |
6,242 |
6,579 |
(5%) |
1,350 |
2,343 |
(42%) |
11,287 |
14,652 |
(23%) |
|
Total Investment Products Gross Inflows (2) |
18,441 |
12,114 |
52% |
6 |
40 |
(85%) |
52,668 |
37,744 |
40% |
71,115 |
49,898 |
43% |
|
22,136 |
17,844 |
24% |
6,248 |
6,619 |
(6%) |
54,018 |
40,087 |
35% |
|
82,402 |
64,550 |
28% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INSURANCE OPERATIONS
|
|
Single |
|
|
Regular |
|
|
Total |
|
|
Annual Equivalents (3) |
||
2009 Q3 |
2008 Q3 |
2009 Q3 |
2008 Q3 |
2009 Q3 |
2008 Q3 |
2009 Q3 |
2008 Q3 |
||||||
YTD |
YTD |
+/-(%) |
YTD |
YTD |
+/-(%) |
YTD |
YTD |
+/-(%) |
YTD |
YTD |
+/-(%) |
||
|
£m |
£m |
|
£m |
£m |
|
£m |
£m |
|
|
£m |
£m |
|
UK Insurance Operations |
|
||||||||||||
Product Summary |
|
||||||||||||
Internal Vesting annuities |
1,023 |
1,129 |
(9%) |
- |
- |
- |
1,023 |
1,129 |
(9%) |
102 |
113 |
(10%) |
|
Direct and Partnership Annuities |
424 |
550 |
(23%) |
- |
- |
- |
424 |
550 |
(23%) |
42 |
55 |
(24%) |
|
Intermediated Annuities |
196 |
401 |
(51%) |
- |
- |
- |
196 |
401 |
(51%) |
20 |
40 |
|
|
Total Individual Annuities |
1,643 |
2,080 |
(21%) |
- |
- |
- |
1,643 |
2,080 |
(21%) |
|
164 |
208 |
(21%) |
|
|||||||||||||
Income Drawdown |
70 |
54 |
30% |
- |
- |
- |
70 |
54 |
30% |
7 |
5 |
40% |
|
Equity Release |
84 |
188 |
(55%) |
- |
- |
- |
84 |
188 |
(55%) |
8 |
19 |
(58%) |
|
Individual Pensions |
145 |
52 |
179% |
5 |
2 |
150% |
150 |
54 |
178% |
20 |
7 |
186% |
|
Corporate Pensions |
55 |
154 |
(64%) |
61 |
64 |
(5%) |
116 |
218 |
(47%) |
67 |
79 |
(15%) |
|
Unit Linked Bonds |
83 |
88 |
(6%) |
- |
- |
- |
83 |
88 |
(6%) |
8 |
9 |
(11%) |
|
With-Profit Bonds |
969 |
651 |
49% |
- |
- |
- |
969 |
651 |
49% |
97 |
65 |
49% |
|
Protection |
- |
- |
- |
12 |
4 |
200% |
12 |
4 |
200% |
12 |
4 |
200% |
|
Offshore Products |
207 |
447 |
(54%) |
3 |
3 |
0% |
210 |
450 |
(53%) |
24 |
48 |
(50%) |
|
Pru Health (11) |
- |
- |
- |
9 |
14 |
(36%) |
9 |
14 |
(36%) |
9 |
14 |
(36%) |
|
Total Retail Retirement |
3,256 |
3,714 |
(12%) |
90 |
87 |
3% |
3,346 |
3,801 |
(12%) |
|
416 |
458 |
(9%) |
|
|||||||||||||
Corporate Pensions |
88 |
227 |
(61%) |
80 |
88 |
(9%) |
168 |
315 |
(47%) |
89 |
111 |
(20%) |
|
Other Products |
59 |
113 |
(48%) |
13 |
17 |
(24%) |
72 |
130 |
(45%) |
19 |
28 |
(32%) |
|
DWP Rebates |
80 |
103 |
(22%) |
- |
- |
- |
80 |
103 |
(22%) |
8 |
10 |
(20%) |
|
Total Mature Life and Pensions |
227 |
443 |
(49%) |
93 |
105 |
(11%) |
320 |
548 |
(42%) |
|
116 |
149 |
(22%) |
|
|||||||||||||
Total Retail |
3,483 |
4,157 |
(16%) |
183 |
192 |
(5%) |
3,666 |
4,349 |
(16%) |
|
531 |
608 |
(13%) |
|
|||||||||||||
Wholesale Annuities |
12 |
1,370 |
(99%) |
- |
- |
- |
12 |
1,370 |
(99%) |
1 |
137 |
(99%) |
|
|
|||||||||||||
Credit Life |
17 |
11 |
55% |
- |
- |
- |
17 |
11 |
55% |
2 |
1 |
100% |
|
|
|||||||||||||
Total UK Insurance Operations |
3,512 |
5,538 |
(37%) |
183 |
192 |
(5%) |
3,695 |
5,730 |
(36%) |
|
534 |
746 |
(28%) |
|
|||||||||||||
Channel Summary |
|
||||||||||||
Direct and Partnership |
1,347 |
1,729 |
(22%) |
149 |
161 |
(7%) |
1,496 |
1,890 |
(21%) |
284 |
334 |
(15%) |
|
Intermediated |
2,056 |
2,326 |
(12%) |
34 |
31 |
10% |
2,090 |
2,357 |
(11%) |
240 |
264 |
(9%) |
|
Wholesale |
29 |
1,380 |
(98%) |
- |
- |
- |
29 |
1,380 |
(98%) |
3 |
138 |
(98%) |
|
Sub-Total |
3,432 |
5,435 |
(37%) |
183 |
192 |
(5%) |
3,615 |
5,627 |
(36%) |
|
526 |
736 |
(29%) |
|
|||||||||||||
DWP Rebates |
80 |
103 |
(22%) |
- |
- |
- |
80 |
103 |
(22%) |
8 |
10 |
(20%) |
|
|
|||||||||||||
Total UK Insurance Operations |
3,512 |
5,538 |
(37%) |
183 |
192 |
(5%) |
3,695 |
5,730 |
(36%) |
|
534 |
746 |
(28%) |
|
|||||||||||||
US Insurance Operations (1b) |
|
||||||||||||
Fixed Annuities |
841 |
1,440 |
(42%) |
- |
- |
- |
841 |
1,440 |
(42%) |
84 |
144 |
(42%) |
|
Fixed Index Annuities |
1,055 |
400 |
164% |
- |
- |
- |
1,055 |
400 |
164% |
106 |
40 |
165% |
|
Variable Annuities |
4,321 |
3,276 |
32% |
- |
- |
- |
4,321 |
3,276 |
32% |
432 |
328 |
32% |
|
Life |
7 |
7 |
0% |
18 |
22 |
(18%) |
25 |
29 |
(14%) |
19 |
23 |
(17%) |
|
Sub-Total Retail |
6,224 |
5,123 |
21% |
18 |
22 |
(18%) |
6,242 |
5,145 |
21% |
|
640 |
534 |
20% |
Guaranteed Investment Contracts |
- |
1,029 |
- |
- |
- |
- |
- |
1,029 |
- |
- |
103 |
- |
|
GIC - Medium Term Note |
- |
405 |
- |
- |
- |
- |
- |
405 |
- |
- |
41 |
- |
|
Total US Insurance Operations |
6,224 |
6,557 |
(5%) |
18 |
22 |
(18%) |
6,242 |
6,579 |
(5%) |
|
640 |
678 |
(6%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asian Insurance Operations (1b) |
|
||||||||||||
China (9) |
58 |
61 |
(5%) |
28 |
29 |
(3%) |
86 |
90 |
(4%) |
34 |
35 |
(3%) |
|
Hong Kong |
64 |
584 |
(89%) |
144 |
143 |
1% |
208 |
727 |
(71%) |
150 |
201 |
(25%) |
|
India (6) |
37 |
57 |
(35%) |
112 |
180 |
(38%) |
149 |
237 |
(37%) |
116 |
186 |
(38%) |
|
Indonesia |
24 |
93 |
(74%) |
124 |
133 |
(7%) |
148 |
226 |
(35%) |
126 |
142 |
(11%) |
|
Japan |
50 |
133 |
(62%) |
35 |
33 |
6% |
85 |
166 |
(49%) |
40 |
46 |
(13%) |
|
Korea |
28 |
62 |
(55%) |
93 |
172 |
(46%) |
121 |
234 |
(48%) |
96 |
178 |
(46%) |
|
Malaysia |
50 |
26 |
92% |
79 |
74 |
7% |
129 |
100 |
29% |
84 |
77 |
9% |
|
Singapore |
162 |
365 |
(56%) |
64 |
67 |
(4%) |
226 |
432 |
(48%) |
80 |
104 |
(23%) |
|
Taiwan |
70 |
38 |
84% |
70 |
30 |
133% |
140 |
68 |
106% |
77 |
34 |
126% |
|
Other (4) |
17 |
16 |
6% |
41 |
47 |
(13%) |
58 |
63 |
(8%) |
43 |
49 |
(12%) |
|
Total Asian Insurance Operations |
560 |
1,435 |
(61%) |
790 |
908 |
(13%) |
1,350 |
2,343 |
(42%) |
|
846 |
1,052 |
(20%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Group Total |
10,296 |
13,530 |
(24%) |
991 |
1,122 |
(12%) |
11,287 |
14,652 |
(23%) |
|
2,020 |
2,475 |
(18%) |
Schedule 2A - Actual Exchange Rates
PRUDENTIAL PLC - NEW BUSINESS - NINE MONTHS 2009
INVESTMENT OPERATIONS
|
|
|
|
|
|
|
|
Market & |
Net |
|
|
Opening |
|
Other |
Currency |
Movement |
Closing |
||||||
FUM |
|
Gross Inflows |
Redemptions |
Net Inflows |
Movements |
Movements |
In FUM |
FUM |
|||
2009 |
£m |
|
£m |
£m |
£m |
£m |
£m |
£m |
£m |
||
M&G |
|
|
|
||||||||
Retail |
19,142 |
|
9,766 |
(4,040) |
5,726 |
(626) |
4,262 |
9,362 |
28,504 |
||
Institutional (5) |
27,855 |
|
8,675 |
(3,264) |
5,411 |
(105) |
4,570 |
9,876 |
37,731 |
||
Total M&G |
46,997 |
|
18,441 |
(7,304) |
11,137 |
(731) |
8,832 |
19,238 |
|
66,235 |
|
|
|
|
|||||||||
Asia |
|
|
|
||||||||
India |
1,567 |
|
466 |
(707) |
(241) |
91 |
272 |
122 |
1,689 |
||
Taiwan |
1,156 |
|
753 |
(627) |
126 |
- |
297 |
423 |
1,579 |
||
Korea |
1,878 |
|
439 |
(590) |
(151) |
(389) |
440 |
(100) |
1,778 |
||
Japan |
3,211 |
|
677 |
(593) |
84 |
- |
782 |
866 |
4,077 |
||
Other Mutual Fund Operations (10) |
2,758 |
|
1,384 |
(1,076) |
308 |
(1) |
304 |
611 |
3,369 |
||
Total Asian Equity/Bond/Other |
10,570 |
|
3,719 |
(3,593) |
126 |
(299) |
2,095 |
1,922 |
|
12,492 |
|
|
|
|
|||||||||
MMF |
|
|
|
||||||||
India |
1,562 |
|
44,310 |
(42,665) |
1,645 |
(113) |
(61) |
1,471 |
3,033 |
||
Taiwan |
1,421 |
|
1,729 |
(1,798) |
(69) |
- |
(110) |
(179) |
1,242 |
||
Korea |
474 |
|
2,181 |
(2,069) |
112 |
(41) |
2 |
73 |
547 |
||
Other Mutual Fund Operations |
416 |
|
690 |
(614) |
76 |
- |
(33) |
43 |
459 |
||
Total Asian MMF |
3,873 |
|
48,910 |
(47,146) |
1,764 |
(154) |
(202) |
1,408 |
|
5,281 |
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|||||||||
Total Asia Retail Mutual Funds |
14,443 |
|
52,629 |
(50,739) |
1,890 |
(453) |
1,893 |
3,330 |
|
17,773 |
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|||||||||
Third Party Institutional Mandates |
789 |
|
39 |
(38) |
1 |
- |
218 |
219 |
1,008 |
||
|
|
|
|||||||||
|
|
|
|
|
|
|
|
|
|
||
Total Asian Investment Operations |
15,232 |
|
52,668 |
(50,777) |
1,891 |
(453) |
2,111 |
3,549 |
|
18,781 |
|
|
|
|
|
|
|
|
|
|
|
||
US |
|
|
|
||||||||
Retail |
50 |
|
6 |
(67) |
(61) |
2 |
9 |
(50) |
- |
||
Total US |
50 |
|
6 |
(67) |
(61) |
2 |
9 |
(50) |
|
- |
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
||
Total Investment Products |
62,279 |
|
71,115 |
(58,148) |
12,967 |
(1,182) |
10,952 |
22,737 |
|
85,016 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Market & |
Net |
|
|||||||
Opening |
|
Other |
Currency |
Movement |
Closing |
||||||
FUM |
|
Gross Inflows |
Redemptions |
Net Inflows |
Movements |
Movements |
In FUM |
FUM |
|||
2008 |
£m |
|
£m |
£m |
£m |
£m |
£m |
£m |
£m |
||
M&G |
|
|
|
||||||||
Retail |
22,320 |
|
6,448 |
(5,040) |
1,408 |
- |
(3,993) |
(2,585) |
19,735 |
||
Institutional (5) |
28,901 |
|
5,666 |
(2,932) |
2,734 |
(19) |
(1,357) |
1,358 |
30,259 |
||
Total M&G |
51,221 |
|
12,114 |
(7,972) |
4,142 |
(19) |
(5,350) |
(1,227) |
|
49,994 |
|
|
|
|
|||||||||
Asia |
|
|
|
||||||||
India |
2,225 |
|
942 |
(827) |
115 |
(66) |
(569) |
(520) |
1,705 |
||
Taiwan |
1,476 |
|
805 |
(701) |
104 |
- |
(353) |
(249) |
1,227 |
||
Korea |
2,946 |
|
1,057 |
(893) |
164 |
(180) |
(915) |
(931) |
2,015 |
||
Japan |
4,313 |
|
916 |
(654) |
262 |
- |
(1,289) |
(1,027) |
3,286 |
||
Other Mutual Fund Operations (10) |
2,537 |
|
1,260 |
(771) |
489 |
(12) |
(437) |
40 |
2,577 |
||
Total Asia Equity/Bond/Other |
13,497 |
|
4,980 |
(3,846) |
1,134 |
(258) |
(3,563) |
(2,687) |
|
10,810 |
|
|
|
|
|||||||||
MMF |
|
|
|
||||||||
India |
1,416 |
|
24,483 |
(24,755) |
(272) |
(13) |
23 |
(262) |
1,154 |
||
Taiwan |
632 |
|
2,713 |
(2,603) |
110 |
- |
98 |
208 |
840 |
||
Korea |
480 |
|
1,450 |
(1,453) |
(3) |
(22) |
(44) |
(69) |
411 |
||
Other Mutual Fund Operations |
252 |
|
546 |
(455) |
91 |
- |
36 |
127 |
379 |
||
Total Asian MMF |
2,780 |
|
29,192 |
(29,266) |
(74) |
(35) |
113 |
4 |
|
2,784 |
|
|
|
|
|||||||||
|
|
|
|||||||||
Total Asia Retail Mutual Funds |
16,277 |
|
34,172 |
(33,112) |
1,060 |
(293) |
(3,450) |
(2,683) |
|
13,594 |
|
|
|
|
|||||||||
|
|
|
|||||||||
Third Party Institutional Mandates |
1,116 |
|
240 |
(348) |
(108) |
- |
(253) |
(361) |
755 |
||
|
|
|
|||||||||
|
|
|
|||||||||
Total Asian Investment Operations |
17,393 |
|
34,412 |
(33,460) |
952 |
(293) |
(3,703) |
(3,044) |
|
14,349 |
|
|
|
|
|||||||||
US |
|
|
|
||||||||
Retail |
55 |
|
32 |
(24) |
8 |
2 |
(7) |
3 |
58 |
||
Total US |
55 |
|
32 |
(24) |
8 |
2 |
(7) |
3 |
|
58 |
|
|
|
|
|||||||||
|
|
|
|||||||||
Total Investment Products |
68,669 |
|
46,558 |
(41,456) |
5,102 |
(310) |
(9,060) |
(4,268) |
|
64,401 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Market & |
Net |
|
|||||||
Opening |
|
Other |
Currency |
Movement |
Closing |
||||||
FUM |
|
Gross Inflows |
Redemptions |
Net Inflows |
Movements |
Movements |
In FUM |
FUM |
|||
2009 Movement Relative to 2008 |
% |
|
% |
% |
% |
% |
% |
% |
% |
||
M&G |
|
|
|
||||||||
Retail |
(14%) |
|
51% |
20% |
307% |
- |
207% |
462% |
44% |
||
Institutional (5) |
(4%) |
|
53% |
(11%) |
98% |
(453%) |
437% |
627% |
25% |
||
Total M&G |
(8%) |
|
52% |
8% |
169% |
(3,747%) |
265% |
1,668% |
|
32% |
|
|
|
|
|||||||||
Asia |
|
|
|
||||||||
India |
(30%) |
|
(51%) |
15% |
(310%) |
238% |
148% |
123% |
(1%) |
||
Taiwan |
(22%) |
|
(6%) |
11% |
21% |
- |
184% |
270% |
29% |
||
Korea |
(36%) |
|
(58%) |
34% |
(192%) |
(116%) |
148% |
89% |
(12%) |
||
Japan |
(26%) |
|
(26%) |
9% |
(68%) |
- |
161% |
184% |
24% |
||
Other Mutual Fund Operations (10) |
9% |
|
10% |
(40%) |
(37%) |
92% |
170% |
1,428% |
31% |
||
Total Asia Equity/Bond/Other |
(22%) |
|
(25%) |
7% |
(89%) |
(16%) |
159% |
172% |
|
16% |
|
|
|
|
|||||||||
MMF |
|
|
|
||||||||
India |
10% |
|
81% |
(72%) |
705% |
(769%) |
(365%) |
661% |
163% |
||
Taiwan |
125% |
|
(36%) |
31% |
(163%) |
- |
(212%) |
(186%) |
48% |
||
Korea |
(1%) |
|
50% |
(42%) |
3,833% |
(86%) |
105% |
206% |
33% |
||
Other Mutual Fund Operations |
65% |
|
26% |
(35%) |
(16%) |
- |
(192%) |
(66%) |
21% |
||
Total Asian MMF |
39% |
|
68% |
(61%) |
2,484% |
(340%) |
(279%) |
35,100% |
|
90% |
|
|
|
|
|||||||||
|
|
|
|||||||||
Total Asian Retail Mutual Funds |
(11%) |
|
54% |
(53%) |
78% |
(55%) |
155% |
224% |
|
31% |
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|||||||||
Third Party Institutional Mandates |
(29%) |
|
(84%) |
89% |
101% |
- |
186% |
161% |
34% |
||
|
|
|
|||||||||
|
|
|
|
|
|
|
|
|
|
||
Total Asian Investment Operations |
(12%) |
|
53% |
(52%) |
99% |
(55%) |
157% |
217% |
|
31% |
|
|
|
|
|
|
|
|
|
|
|
||
US |
|
|
|
|
|
|
|
|
|
|
|
Retail |
(9%) |
|
(81%) |
(179%) |
(863%) |
0% |
229% |
(1,767%) |
|
- |
|
Total US |
(9%) |
|
(81%) |
(179%) |
(863%) |
0% |
229% |
(1,767%) |
|
- |
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
||
Total Investment Products |
(9%) |
|
53% |
(40%) |
154% |
(281%) |
221% |
633% |
|
32% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2009 Q3 |
2008 Q3 |
|
|
|
US |
|
|
YTD |
YTD |
+/- (%) |
||||||
|
|
£m |
£m |
|
|||||||
Curian Capital |
|
|
|
||||||||
External Funds Under Administration |
|
|
2,041 |
1,790 |
14% |
||||||
|
|
|
|
|
|
|
|
|
|
|
Schedule 2B - Constant Exchange Rates
PRUDENTIAL PLC - NEW BUSINESS - NINE MONTHS 2009
INVESTMENT OPERATIONS
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
Opening |
Closing |
Variance |
|
||||||||
Gross Inflows |
Redemptions |
Net Inflows |
|
FUM |
FUM |
% |
|
||||||
2009 |
£m |
£m |
£m |
|
£m |
£m |
|
|
|||||
M&G |
|
|
|
|
|
|
|||||||
Retail |
9,766 |
(4,040) |
5,726 |
|
19,142 |
28,504 |
49% |
|
|||||
Institutional (5) |
8,675 |
(3,264) |
5,411 |
|
27,855 |
37,731 |
35% |
|
|||||
Total M&G |
18,441 |
(7,304) |
11,137 |
|
|
46,997 |
66,235 |
41% |
|
||||
|
|
|
|
|
|
||||||||
Asia |
|
|
|
|
|
|
|||||||
India |
466 |
(707) |
(241) |
|
1,427 |
1,689 |
18% |
|
|||||
Taiwan |
753 |
(627) |
126 |
|
1,063 |
1,579 |
49% |
|
|||||
Korea |
439 |
(590) |
(151) |
|
1,804 |
1,778 |
(1%) |
|
|||||
Japan |
677 |
(593) |
84 |
|
2,922 |
4,077 |
40% |
|
|||||
Other Mutual Fund Operations (10) |
1,384 |
(1,076) |
308 |
|
2,492 |
3,369 |
35% |
|
|||||
Total Asian Equity/Bond/Other |
3,719 |
(3,593) |
126 |
|
|
9,708 |
12,492 |
29% |
|
||||
|
|
|
|
|
|
||||||||
MMF |
|
|
|
|
|
|
|||||||
India |
44,310 |
(42,665) |
1,645 |
|
1,422 |
3,033 |
113% |
|
|||||
Taiwan |
1,729 |
(1,798) |
(69) |
|
1,306 |
1,242 |
(5%) |
|
|||||
Korea |
2,181 |
(2,069) |
112 |
|
455 |
547 |
20% |
|
|||||
Other Mutual Fund Operations |
690 |
(614) |
76 |
|
377 |
459 |
22% |
|
|||||
Total Asian MMF |
48,910 |
(47,146) |
1,764 |
|
|
3,560 |
5,281 |
48% |
|
||||
|
|
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
||||||||
Total Asia Retail Mutual Funds |
52,629 |
(50,739) |
1,890 |
|
|
13,268 |
17,773 |
34% |
|
||||
|
|
|
|
|
|
|
|
|
|||||
Third Party Institutional Mandates |
39 |
(38) |
1 |
|
720 |
1,008 |
40% |
|
|||||
|
|
|
|
|
|
||||||||
|
|
|
|
|
|
|
|
|
|||||
Total Asian Investment Operations |
52,668 |
(50,777) |
1,891 |
|
|
13,988 |
18,781 |
34% |
|
||||
|
|
|
|
|
|
|
|
|
|||||
US |
|
|
|
|
|
|
|||||||
Retail |
6 |
(67) |
(61) |
|
45 |
- |
(100%) |
|
|||||
Total US |
6 |
(67) |
(61) |
|
|
45 |
- |
(100%) |
|
||||
|
|
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|
|
|
|||||
Total Investment Products |
71,115 |
(58,148) |
12,967 |
|
|
61,030 |
85,016 |
39% |
|
||||
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
||||||||||||
|
|
||||||||||||
Gross Inflows |
Redemptions |
Net Inflows |
|
||||||||||
2008 |
£m |
£m |
£m |
|
|||||||||
M&G |
|
|
|||||||||||
Retail |
6,448 |
(5,040) |
1,408 |
|
|||||||||
Institutional (5) |
5,666 |
(2,932) |
2,734 |
|
|||||||||
Total M&G |
12,114 |
(7,972) |
4,142 |
|
|||||||||
|
|
||||||||||||
Asia |
|
|
|||||||||||
India |
1,013 |
(890) |
123 |
|
|||||||||
Taiwan |
949 |
(826) |
123 |
|
|||||||||
Korea |
1,032 |
(873) |
159 |
|
|||||||||
Japan |
1,289 |
(920) |
369 |
|
|||||||||
Other Mutual Fund Operations (10) |
1,590 |
(954) |
636 |
|
|||||||||
Total Asia Equity/Bond/Other |
5,873 |
(4,463) |
1,410 |
|
|||||||||
|
|
||||||||||||
MMF |
|
|
|||||||||||
India |
26,334 |
(26,627) |
(293) |
|
|||||||||
Taiwan |
3,196 |
(3,066) |
130 |
|
|||||||||
Korea |
1,416 |
(1,420) |
(4) |
|
|||||||||
Other Mutual Fund Operations |
638 |
(532) |
106 |
|
|||||||||
Total Asian MMF |
31,584 |
(31,645) |
(61) |
|
|||||||||
|
|
||||||||||||
|
|
||||||||||||
Total Asia Retail Mutual Funds |
37,457 |
(36,108) |
1,349 |
|
|||||||||
|
|
||||||||||||
Third Party Institutional Mandates |
287 |
(427) |
(140) |
|
|||||||||
|
|
||||||||||||
|
|
||||||||||||
Total Asian Investment Operations |
37,744 |
(36,535) |
1,209 |
|
|||||||||
|
|
||||||||||||
US |
|
|
|||||||||||
Retail |
40 |
(30) |
10 |
|
|||||||||
Total US |
40 |
(30) |
10 |
|
|||||||||
|
|
||||||||||||
|
|
||||||||||||
Total Investment Products |
49,898 |
(44,537) |
5,361 |
|
|||||||||
|
|
|
|
|
|
||||||||
|
|
||||||||||||
|
|
||||||||||||
Gross Inflows |
Redemptions |
Net Inflows |
|
||||||||||
2009 Movement Relative to 2008 |
% |
% |
% |
|
|||||||||
M&G |
|
|
|||||||||||
Retail |
51% |
20% |
307% |
|
|||||||||
Institutional (5) |
53% |
(11%) |
98% |
|
|||||||||
Total M&G |
52% |
8% |
169% |
|
|||||||||
|
|
||||||||||||
Asia |
|
|
|||||||||||
India |
(54%) |
21% |
(296%) |
|
|||||||||
Taiwan |
(21%) |
24% |
2% |
|
|||||||||
Korea |
(57%) |
32% |
(195%) |
|
|||||||||
Japan |
(47%) |
36% |
(77%) |
|
|||||||||
Other Mutual Fund Operations (10) |
(13%) |
(13%) |
(52%) |
|
|||||||||
Total Asia Equity/Bond/Other |
(37%) |
19% |
(91%) |
|
|||||||||
|
|
||||||||||||
MMF |
|
|
|||||||||||
India |
68% |
(60%) |
661% |
|
|||||||||
Taiwan |
(46%) |
41% |
(153%) |
|
|||||||||
Korea |
54% |
(46%) |
2,900% |
|
|||||||||
Other Mutual Fund Operations |
8% |
(15%) |
(28%) |
|
|||||||||
Total Asian MMF |
55% |
(49%) |
2,992% |
|
|||||||||
|
|
||||||||||||
|
|
||||||||||||
Total Asian Retail Mutual Funds |
41% |
(41%) |
40% |
|
|||||||||
|
|
|
|
||||||||||
|
|
||||||||||||
Third Party Institutional Mandates |
(86%) |
91% |
101% |
|
|||||||||
|
|
||||||||||||
|
|
|
|
||||||||||
Total Asian Investment Operations |
40% |
(39%) |
56% |
|
|||||||||
|
|
|
|
||||||||||
US |
|
|
|
|
|||||||||
Retail |
(85%) |
(123%) |
(710%) |
|
|||||||||
Total US |
(85%) |
(123%) |
(710%) |
|
|||||||||
|
|
|
|
||||||||||
|
|
|
|
||||||||||
Total Investment Products |
43% |
(31%) |
142% |
|
|||||||||
|
|
|
|
|
|
||||||||
|
|
|
|
|
|
2009 Q3 |
2008 Q3 |
|
|
||||
US (7) |
|
|
YTD |
YTD |
+/- (%) |
|
|||||||
|
|
£m |
£m |
|
|
||||||||
Curian Capital |
|
|
|
|
|||||||||
External Funds Under Administration |
|
|
2,041 |
1,995 |
2% |
|
|||||||
|
|
|
|
|
|
|
|
|
|
Schedule 3 - Actual Exchange Rates
PRUDENTIAL PLC - NEW BUSINESS - QUARTER 3 2009 VERSUS QUARTER 3 2008
INSURANCE OPERATIONS
|
|
Single |
|
|
Regular |
|
|
Total |
|
|
Annual Equivalents (3) |
||||
|
Q3 2009 |
Q3 2008 |
+/-(%) |
Q3 2009 |
Q3 2008 |
+/-(%) |
Q3 2009 |
Q3 2008 |
+/-(%) |
|
Q3 2009 |
Q3 2008 |
+/-(%) |
||
|
£m |
£m |
|
£m |
£m |
|
£m |
£m |
|
|
£m |
£m |
|
||
UK Insurance Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Product Summary |
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Internal Vesting annuities |
297 |
408 |
(27%) |
- |
- |
- |
297 |
408 |
(27%) |
|
30 |
41 |
(27%) |
||
Direct and Partnership Annuities |
151 |
177 |
(15%) |
- |
- |
- |
151 |
177 |
(15%) |
|
15 |
18 |
(17%) |
||
Intermediated Annuities |
56 |
116 |
(52%) |
- |
- |
- |
56 |
116 |
(52%) |
|
6 |
12 |
(50%) |
||
Total Individual Annuities |
504 |
701 |
(28%) |
- |
- |
- |
504 |
701 |
(28%) |
|
50 |
70 |
(29%) |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Income Drawdown |
24 |
24 |
0% |
- |
- |
- |
24 |
24 |
0% |
|
2 |
2 |
0% |
||
Equity Release |
30 |
71 |
(58%) |
- |
- |
- |
30 |
71 |
(58%) |
|
3 |
7 |
(57%) |
||
Individual Pensions |
47 |
20 |
135% |
2 |
1 |
100% |
49 |
21 |
133% |
|
7 |
3 |
133% |
||
Corporate Pensions |
8 |
60 |
(87%) |
17 |
26 |
(35%) |
25 |
86 |
(71%) |
|
18 |
32 |
(44%) |
||
Unit Linked Bonds |
34 |
21 |
62% |
- |
- |
- |
34 |
21 |
62% |
|
3 |
2 |
50% |
||
With-Profit Bonds |
285 |
233 |
22% |
- |
- |
- |
285 |
233 |
22% |
|
29 |
23 |
26% |
||
Protection |
- |
- |
- |
5 |
1 |
400% |
5 |
1 |
400% |
|
5 |
1 |
400% |
||
Offshore Products |
80 |
126 |
(37%) |
1 |
1 |
0% |
81 |
127 |
(36%) |
|
9 |
14 |
(36%) |
||
Pru Health (11) |
- |
- |
- |
3 |
6 |
(50%) |
3 |
6 |
(50%) |
|
3 |
6 |
(50%) |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Total Retail Retirement |
1,012 |
1,256 |
(19%) |
28 |
35 |
(20%) |
1,040 |
1,291 |
(19%) |
|
129 |
161 |
(20%) |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Corporate Pensions |
20 |
54 |
(63%) |
21 |
26 |
(19%) |
41 |
80 |
(49%) |
|
23 |
31 |
(26%) |
||
Other Products |
20 |
36 |
(44%) |
3 |
6 |
(50%) |
23 |
42 |
(45%) |
|
5 |
10 |
(50%) |
||
DWP Rebates |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
- |
- |
- |
||
Total Mature Life and Pensions |
40 |
90 |
(56%) |
24 |
32 |
(25%) |
64 |
122 |
(48%) |
|
28 |
41 |
(32%) |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Total Retail |
1,052 |
1,346 |
(22%) |
52 |
67 |
(22%) |
1,104 |
1,413 |
(22%) |
|
157 |
202 |
(22%) |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Wholesale Annuities |
4 |
1,063 |
(100%) |
- |
- |
- |
4 |
1,063 |
(100%) |
|
- |
106 |
- |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Credit Life |
5 |
4 |
25% |
- |
- |
- |
5 |
4 |
25% |
|
1 |
- |
- |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Total UK Insurance Operations |
1,061 |
2,413 |
(56%) |
52 |
67 |
(22%) |
1,113 |
2,480 |
(55%) |
|
158 |
308 |
(49%) |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Channel Summary |
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Direct and Partnership |
398 |
582 |
(32%) |
41 |
55 |
(25%) |
439 |
637 |
(31%) |
|
81 |
113 |
(28%) |
||
Intermediated |
654 |
764 |
(14%) |
11 |
12 |
(8%) |
665 |
776 |
(14%) |
|
76 |
88 |
(14%) |
||
Wholesale |
9 |
1,067 |
(99%) |
- |
- |
- |
9 |
1,067 |
(99%) |
|
1 |
107 |
(99%) |
||
Sub-Total |
1,061 |
2,413 |
(56%) |
52 |
67 |
(22%) |
1,113 |
2,480 |
(55%) |
|
158 |
308 |
(49%) |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
DWP Rebates |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
- |
- |
- |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Total UK Insurance Operations |
1,061 |
2,413 |
(56%) |
52 |
67 |
(22%) |
1,113 |
2,480 |
(55%) |
|
158 |
308 |
(49%) |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
US Insurance Operations (1b)(8) |
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Fixed Annuities |
140 |
506 |
(72%) |
- |
- |
- |
140 |
506 |
(72%) |
|
14 |
51 |
(73%) |
||
Fixed Index Annuities |
480 |
121 |
297% |
- |
- |
- |
480 |
121 |
297% |
|
48 |
12 |
300% |
||
Variable Annuities |
1,804 |
799 |
126% |
- |
- |
- |
1,804 |
799 |
126% |
|
180 |
80 |
125% |
||
Life |
2 |
2 |
0% |
6 |
7 |
(14%) |
8 |
9 |
(11%) |
|
6 |
7 |
(14%) |
||
Sub-Total Retail |
2,426 |
1,428 |
70% |
6 |
7 |
(14%) |
2,432 |
1,435 |
69% |
|
249 |
150 |
66% |
||
Guaranteed Investment Contracts |
- |
310 |
- |
- |
- |
- |
- |
310 |
- |
|
- |
31 |
- |
||
GIC - Medium Term Note |
- |
5 |
- |
- |
- |
- |
- |
5 |
- |
|
- |
1 |
- |
||
Total US Insurance Operations |
2,426 |
1,743 |
39% |
6 |
7 |
(14%) |
2,432 |
1,750 |
39% |
|
249 |
181 |
38% |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Asian Insurance Operations (1b)(8) |
|
|
|
|
|
|
|
|
|
|
|
|
|
||
China (9) |
|
|
15 |
12 |
25% |
11 |
8 |
38% |
26 |
20 |
30% |
|
13 |
9 |
44% |
Hong Kong |
|
|
33 |
114 |
(71%) |
52 |
35 |
49% |
85 |
149 |
(43%) |
|
55 |
46 |
20% |
India (6) |
|
|
5 |
13 |
(62%) |
39 |
46 |
(15%) |
44 |
59 |
(25%) |
|
40 |
47 |
(15%) |
Indonesia |
|
|
11 |
17 |
(35%) |
42 |
40 |
5% |
53 |
57 |
(7%) |
|
43 |
42 |
2% |
Japan |
|
|
12 |
26 |
(54%) |
10 |
3 |
233% |
22 |
29 |
(24%) |
|
11 |
6 |
83% |
Korea |
|
|
8 |
13 |
(38%) |
29 |
58 |
(50%) |
37 |
71 |
(48%) |
|
30 |
59 |
(49%) |
Malaysia |
|
|
17 |
8 |
113% |
30 |
26 |
15% |
47 |
34 |
38% |
|
32 |
27 |
19% |
Singapore |
|
|
47 |
30 |
57% |
24 |
19 |
26% |
71 |
49 |
45% |
|
29 |
22 |
32% |
Taiwan |
|
|
38 |
9 |
322% |
22 |
10 |
120% |
60 |
19 |
216% |
|
26 |
11 |
136% |
Other (4) |
|
|
9 |
4 |
125% |
14 |
11 |
27% |
23 |
15 |
53% |
|
15 |
11 |
36% |
Total Asian Insurance Operations |
195 |
246 |
(21%) |
273 |
256 |
7% |
468 |
502 |
(7%) |
|
293 |
281 |
4% |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Group Total |
3,682 |
4,402 |
(16%) |
331 |
330 |
0% |
4,013 |
4,732 |
(15%) |
|
700 |
770 |
(9%) |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INVESTMENT OPERATIONS
|
|
|
|
|
|
|
Market & |
Net |
|
|
|
|
Opening |
|
Other |
Currency |
Movement |
Closing |
|
||||||
FUM |
|
Gross Inflows |
Redemptions |
Net Inflows |
Movements |
Movements |
In FUM |
FUM |
|
|||
|
£m |
|
£m |
£m |
£m |
£m |
£m |
£m |
|
£m |
|
|
|
|
|
|
|||||||||
M&G (5) |
Q3 2009 |
55,921 |
|
5,810 |
(3,298) |
2,512 |
(113) |
7,915 |
10,314 |
66,235 |
|
|
Q3 2008 |
51,699 |
|
4,623 |
(2,918) |
1,705 |
- |
(3,410) |
(1,705) |
49,994 |
|
||
+/-(%) |
8% |
|
26% |
(13%) |
47% |
- |
332% |
705% |
32% |
|
||
Asia Retail Mutual Funds |
Q3 2009 |
15,518 |
|
20,579 |
(20,142) |
437 |
(1) |
1,819 |
2,255 |
17,773 |
|
|
Q3 2008 |
14,845 |
|
11,552 |
(12,213) |
(661) |
(23) |
(567) |
(1,251) |
13,594 |
|
||
+/-(%) |
5% |
|
78% |
(65%) |
166% |
96% |
421% |
280% |
31% |
|
||
Asia Third Party |
Q3 2009 |
859 |
|
5 |
(7) |
(2) |
- |
151 |
149 |
1,008 |
|
|
Q3 2008 |
841 |
|
17 |
(46) |
(29) |
- |
(57) |
(86) |
755 |
|
||
+/-(%) |
2% |
|
(71%) |
85% |
93% |
- |
365% |
273% |
34% |
|
||
US Retail Mutual Funds |
Q3 2009 |
38 |
|
- |
(49) |
(49) |
1 |
10 |
(38) |
- |
|
|
Q3 2008 |
62 |
|
5 |
(9) |
(4) |
1 |
(1) |
(4) |
58 |
|
||
+/-(%) |
(39%) |
|
- |
(444%) |
(1,125%) |
0% |
1,100% |
(850%) |
(100%) |
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Total Investment Products |
Q3 2009 |
72,336 |
|
26,394 |
(23,496) |
2,898 |
(113) |
9,895 |
12,680 |
85,016 |
|
|
Q3 2008 |
67,447 |
|
16,197 |
(15,186) |
1,011 |
(22) |
(4,035) |
(3,046) |
64,401 |
|
||
+/-(%) |
7% |
|
63% |
(55%) |
187% |
(414%) |
345% |
516% |
32% |
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
Schedule 4 - Actual Exchange Rates
PRUDENTIAL PLC - NEW BUSINESS - QUARTER 3 2009 VERSUS QUARTER 2 2009
INSURANCE OPERATIONS
|
|
Single |
|
|
Regular |
|
|
Total |
|
|
Annual Equivalents (3) |
||
Q3 2009 |
Q 2 2009 |
+/-(%) |
Q3 2009 |
Q2 2009 |
+/-(%) |
Q3 2009 |
Q2 2009 |
+/-(%) |
Q3 2009 |
Q 2 2009 |
+/-(%) |
||
|
£m |
£m |
|
£m |
£m |
|
£m |
£m |
|
|
£m |
£m |
|
UK Insurance Operations |
|
||||||||||||
Product Summary |
|
||||||||||||
Internal Vesting annuities |
297 |
335 |
(11%) |
- |
- |
- |
297 |
335 |
(11%) |
30 |
34 |
(12%) |
|
Direct and Partnership Annuities |
151 |
144 |
5% |
- |
- |
- |
151 |
144 |
5% |
15 |
14 |
7% |
|
Intermediated Annuities |
56 |
81 |
(31%) |
- |
- |
- |
56 |
81 |
(31%) |
6 |
8 |
(25%) |
|
Total Individual Annuities |
504 |
560 |
(10%) |
- |
- |
- |
504 |
560 |
(10%) |
|
50 |
56 |
(11%) |
|
|||||||||||||
Income Drawdown |
24 |
28 |
(14%) |
- |
- |
- |
24 |
28 |
(14%) |
2 |
3 |
(33%) |
|
Equity Release |
30 |
29 |
3% |
- |
- |
- |
30 |
29 |
3% |
3 |
3 |
0% |
|
Individual Pensions |
47 |
56 |
(16%) |
2 |
2 |
0% |
49 |
58 |
(16%) |
7 |
8 |
(13%) |
|
Corporate Pensions |
8 |
10 |
(20%) |
17 |
24 |
(29%) |
25 |
34 |
(26%) |
18 |
25 |
(28%) |
|
Unit Linked Bonds |
34 |
25 |
36% |
- |
- |
- |
34 |
25 |
36% |
3 |
3 |
0% |
|
With-Profit Bonds |
285 |
384 |
(26%) |
- |
- |
- |
285 |
384 |
(26%) |
29 |
38 |
(24%) |
|
Protection |
- |
- |
- |
5 |
4 |
25% |
5 |
4 |
25% |
5 |
4 |
25% |
|
Offshore Products |
80 |
68 |
18% |
1 |
1 |
0% |
81 |
69 |
17% |
9 |
8 |
13% |
|
Pru Health (11) |
- |
- |
- |
3 |
4 |
(25%) |
3 |
4 |
(25%) |
3 |
4 |
(25%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Retail Retirement |
1,012 |
1,160 |
(13%) |
28 |
35 |
(20%) |
1,040 |
1,195 |
(13%) |
|
129 |
151 |
(15%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate Pensions |
20 |
42 |
(52%) |
21 |
33 |
(36%) |
41 |
75 |
(45%) |
23 |
37 |
(38%) |
|
Other Products |
20 |
20 |
0% |
3 |
5 |
(40%) |
23 |
25 |
(8%) |
5 |
7 |
(29%) |
|
DWP Rebates |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Total Mature Life and Pensions |
40 |
62 |
(35%) |
24 |
38 |
(37%) |
64 |
100 |
(36%) |
|
28 |
44 |
(36%) |
|
|||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Retail |
1,052 |
1,222 |
(14%) |
52 |
73 |
(29%) |
1,104 |
1,295 |
(15%) |
|
157 |
195 |
(19%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Wholesale Annuities |
4 |
7 |
(43%) |
- |
- |
- |
4 |
7 |
(43%) |
- |
1 |
- |
|
|
|||||||||||||
Credit Life |
5 |
7 |
(29%) |
- |
- |
- |
5 |
7 |
(29%) |
1 |
1 |
0% |
|
|
|||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total UK Insurance Operations |
1,061 |
1,236 |
(14%) |
52 |
73 |
(29%) |
1,113 |
1,309 |
(15%) |
|
158 |
197 |
(20%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Channel Summary |
|
||||||||||||
Direct and Partnership |
398 |
451 |
(12%) |
41 |
59 |
(31%) |
439 |
510 |
(14%) |
81 |
104 |
(22%) |
|
Intermediated |
654 |
771 |
(15%) |
11 |
14 |
(21%) |
665 |
785 |
(15%) |
76 |
91 |
(16%) |
|
Wholesale |
9 |
14 |
(36%) |
- |
- |
- |
9 |
14 |
(36%) |
1 |
1 |
0% |
|
Sub-Total |
1,061 |
1,236 |
(14%) |
52 |
73 |
(29%) |
1,113 |
1,309 |
(15%) |
|
158 |
197 |
(20%) |
|
|||||||||||||
DWP Rebates |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total UK Insurance Operations |
1,061 |
1,236 |
(14%) |
52 |
73 |
(29%) |
1,113 |
1,309 |
(15%) |
|
158 |
197 |
(20%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US Insurance Operations (1b)(8) |
|
||||||||||||
Fixed Annuities |
140 |
218 |
(36%) |
- |
- |
- |
140 |
218 |
(36%) |
14 |
22 |
(36%) |
|
Fixed Index Annuities |
480 |
328 |
46% |
- |
- |
- |
480 |
328 |
46% |
48 |
33 |
45% |
|
Variable Annuities |
1,804 |
1,466 |
23% |
- |
- |
- |
1,804 |
1,466 |
23% |
180 |
147 |
22% |
|
Life |
2 |
3 |
(33%) |
6 |
6 |
0% |
8 |
9 |
(11%) |
6 |
6 |
0% |
|
Sub-Total Retail |
2,426 |
2,015 |
20% |
6 |
6 |
0% |
2,432 |
2,021 |
20% |
|
249 |
208 |
20% |
Guaranteed Investment Contracts |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
GIC - Medium Term Note |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Total US Insurance Operations |
2,426 |
2,015 |
20% |
6 |
6 |
0% |
2,432 |
2,021 |
20% |
|
249 |
208 |
20% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asian Insurance Operations (1b)(8) |
|
||||||||||||
China (9) |
15 |
16 |
(6%) |
11 |
9 |
22% |
26 |
25 |
4% |
13 |
11 |
18% |
|
Hong Kong |
33 |
22 |
50% |
52 |
47 |
11% |
85 |
69 |
23% |
55 |
49 |
12% |
|
India (6) |
5 |
9 |
(44%) |
39 |
19 |
105% |
44 |
28 |
57% |
40 |
20 |
100% |
|
Indonesia |
11 |
7 |
57% |
42 |
45 |
(7%) |
53 |
52 |
2% |
43 |
46 |
(7%) |
|
Japan |
12 |
22 |
(45%) |
10 |
10 |
0% |
22 |
32 |
(31%) |
11 |
12 |
(8%) |
|
Korea |
8 |
11 |
(27%) |
29 |
28 |
4% |
37 |
39 |
(5%) |
30 |
29 |
3% |
|
Malaysia |
17 |
28 |
(39%) |
30 |
26 |
15% |
47 |
54 |
(13%) |
32 |
29 |
10% |
|
Singapore |
47 |
86 |
(45%) |
24 |
21 |
14% |
71 |
107 |
(34%) |
29 |
30 |
(3%) |
|
Taiwan |
38 |
13 |
192% |
22 |
19 |
16% |
60 |
32 |
88% |
26 |
20 |
30% |
|
Other (4) |
9 |
5 |
80% |
14 |
14 |
0% |
23 |
19 |
21% |
15 |
15 |
0% |
|
Total Asian Insurance Operations |
195 |
219 |
(11%) |
273 |
238 |
15% |
468 |
457 |
2% |
|
293 |
260 |
13% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Group Total |
3,682 |
3,470 |
6% |
331 |
317 |
4% |
4,013 |
3,787 |
6% |
|
700 |
664 |
5% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INVESTMENT OPERATIONS
|
|
|
|
|
|
|
Market & |
Net |
|
|
|
Opening |
|
Other |
Currency |
Movement |
Closing |
||||||
FUM |
|
Gross Inflows |
Redemptions |
Net Inflows |
Movements |
Movements |
In FUM |
FUM |
|||
|
£m |
|
£m |
£m |
£m |
£m |
£m |
£m |
|
£m |
|
|
|
|
|||||||||
M&G (5) |
Q3 2009 |
55,921 |
|
5,810 |
(3,298) |
2,512 |
(113) |
7,915 |
10,314 |
66,235 |
|
Q2 2009 |
46,536 |
|
8,223 |
(2,141) |
6,082 |
35 |
3,268 |
9,385 |
55,921 |
||
+/-(%) |
20% |
|
(29%) |
(54%) |
(59%) |
(423%) |
142% |
10% |
18% |
||
Asia Retail Mutual Funds |
Q3 2009 |
15,518 |
|
20,579 |
(20,142) |
437 |
(1) |
1,819 |
2,255 |
17,773 |
|
Q2 2009 |
14,324 |
|
17,331 |
(16,062) |
1,269 |
(442) |
367 |
1,194 |
15,518 |
||
+/-(%) |
8% |
|
19% |
(25%) |
(66%) |
100% |
396% |
89% |
15% |
||
Asia Third Party |
Q3 2009 |
859 |
|
5 |
(7) |
(2) |
- |
151 |
149 |
1,008 |
|
Q2 2009 |
799 |
|
10 |
(8) |
2 |
- |
58 |
60 |
859 |
||
+/-(%) |
8% |
|
(50%) |
13% |
(200%) |
- |
160% |
148% |
17% |
||
US Retail Mutual Funds |
Q3 2009 |
38 |
|
- |
(49) |
(49) |
1 |
10 |
(38) |
- |
|
Q2 2009 |
44 |
|
3 |
(12) |
(9) |
- |
3 |
(6) |
38 |
||
+/-(%) |
(14%) |
|
- |
(308%) |
(444%) |
- |
233% |
(533%) |
- |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Total Investment Products |
Q3 2009 |
72,336 |
|
26,394 |
(23,496) |
2,898 |
(113) |
9,895 |
12,680 |
85,016 |
|
Q2 2009 |
61,703 |
|
25,567 |
(18,223) |
7,344 |
(407) |
3,696 |
10,633 |
72,336 |
||
+/-(%) |
17% |
|
3% |
(29%) |
(61%) |
72% |
168% |
19% |
18% |
||
|
|
|
|
|
|
|
|
|
|
|
|
Schedule 5 - Actual Exchange Rates
PRUDENTIAL PLC - NEW BUSINESS - NINE MONTHS 2009
TOTAL INSURANCE AND INVESTMENT NEW BUSINESS
|
UK |
|
US (1a) |
|
|
Asia (1a) |
|
Total |
|||||
|
|||||||||||||
2009 Q3 |
2008 Q3 |
2009 Q3 |
2008 Q3 |
2009 Q3 |
2008 Q3 |
2009 Q3 |
2008 Q3 |
||||||
YTD |
YTD |
+/-(%) |
YTD |
YTD |
+/-(%) |
YTD |
YTD |
+/-(%) |
YTD |
YTD |
+/-(%) |
||
|
£m |
£m |
£m |
£m |
£m |
£m |
£m |
£m |
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Insurance Products |
3,695 |
5,730 |
(36%) |
6,242 |
5,214 |
20% |
1,350 |
1,988 |
(32%) |
11,287 |
12,932 |
(13%) |
|
Total Investment Products Gross Inflows (2) |
18,441 |
12,114 |
52% |
6 |
32 |
(81%) |
52,668 |
34,412 |
53% |
71,115 |
46,558 |
53% |
|
22,136 |
17,844 |
24% |
6,248 |
5,246 |
19% |
54,018 |
36,400 |
48% |
|
82,402 |
59,490 |
39% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INSURANCE OPERATIONS
|
|
Single |
|
|
Regular |
|
|
Total |
|
|
PVNBP |
||
2009 Q3 |
2008 Q3 |
2009 Q3 |
2008 Q3 |
2009 Q3 |
2008 Q3 |
2009 Q3 |
2008 Q3 |
||||||
YTD |
YTD |
+/-(%) |
YTD |
YTD |
+/-(%) |
YTD |
YTD |
+/-(%) |
YTD |
YTD |
+/-(%) |
||
|
£m |
£m |
|
£m |
£m |
|
£m |
£m |
|
|
£m |
£m |
|
UK Insurance Operations |
|
||||||||||||
Product Summary |
|
||||||||||||
Internal Vesting annuities |
1,023 |
1,129 |
(9%) |
- |
- |
- |
1,023 |
1,129 |
(9%) |
1,023 |
1,129 |
(9%) |
|
Direct and Partnership Annuities |
424 |
550 |
(23%) |
- |
- |
- |
424 |
550 |
(23%) |
424 |
550 |
(23%) |
|
Intermediated Annuities |
196 |
401 |
(51%) |
- |
- |
- |
196 |
401 |
(51%) |
196 |
401 |
(51%) |
|
Total Individual Annuities |
1,643 |
2,080 |
(21%) |
- |
- |
- |
1,643 |
2,080 |
(21%) |
|
1,643 |
2,080 |
(21%) |
|
|||||||||||||
Income Drawdown |
70 |
54 |
30% |
- |
- |
- |
70 |
54 |
30% |
70 |
54 |
30% |
|
Equity Release |
84 |
188 |
(55%) |
- |
- |
- |
84 |
188 |
(55%) |
84 |
188 |
(55%) |
|
Individual Pensions |
145 |
52 |
179% |
5 |
2 |
150% |
150 |
54 |
178% |
159 |
57 |
179% |
|
Corporate Pensions |
55 |
154 |
(64%) |
61 |
64 |
(5%) |
116 |
218 |
(47%) |
386 |
455 |
(15%) |
|
Unit Linked Bonds |
83 |
88 |
(6%) |
- |
- |
- |
83 |
88 |
(6%) |
83 |
88 |
(6%) |
|
With-Profit Bonds |
969 |
651 |
49% |
- |
- |
- |
969 |
651 |
49% |
969 |
651 |
49% |
|
Protection |
- |
- |
- |
12 |
4 |
200% |
12 |
4 |
200% |
76 |
26 |
192% |
|
Offshore Products |
207 |
447 |
(54%) |
3 |
3 |
0% |
210 |
450 |
(53%) |
222 |
463 |
(52%) |
|
Pru Health (11) |
- |
- |
- |
9 |
14 |
(36%) |
9 |
14 |
(36%) |
82 |
129 |
(36%) |
|
Total Retail Retirement |
3,256 |
3,714 |
(12%) |
90 |
87 |
3% |
3,346 |
3,801 |
(12%) |
|
3,774 |
4,191 |
(10%) |
|
|||||||||||||
Corporate Pensions |
88 |
227 |
(61%) |
80 |
88 |
(9%) |
168 |
315 |
(47%) |
385 |
521 |
(26%) |
|
Other Products |
59 |
113 |
(48%) |
13 |
17 |
(24%) |
72 |
130 |
(45%) |
104 |
166 |
(37%) |
|
DWP Rebates |
80 |
103 |
(22%) |
- |
- |
- |
80 |
103 |
(22%) |
80 |
103 |
(22%) |
|
Total Mature Life and Pensions |
227 |
443 |
(49%) |
93 |
105 |
(11%) |
320 |
548 |
(42%) |
|
569 |
790 |
(28%) |
|
|||||||||||||
Total Retail |
3,483 |
4,157 |
(16%) |
183 |
192 |
(5%) |
3,666 |
4,349 |
(16%) |
|
4,343 |
4,981 |
(13%) |
|
|||||||||||||
Wholesale Annuities |
12 |
1,370 |
(99%) |
- |
- |
- |
12 |
1,370 |
(99%) |
12 |
1,370 |
(99%) |
|
|
|||||||||||||
Credit Life |
17 |
11 |
55% |
- |
- |
- |
17 |
11 |
55% |
17 |
11 |
55% |
|
|
|||||||||||||
Total UK Insurance Operations |
3,512 |
5,538 |
(37%) |
183 |
192 |
(5%) |
3,695 |
5,730 |
(36%) |
|
4,372 |
6,362 |
(31%) |
|
|||||||||||||
Channel Summary |
|
||||||||||||
Direct and Partnership |
1,347 |
1,729 |
(22%) |
149 |
161 |
(7%) |
1,496 |
1,890 |
(21%) |
2,008 |
2,381 |
(16%) |
|
Intermediated |
2,056 |
2,326 |
(12%) |
34 |
31 |
10% |
2,090 |
2,357 |
(11%) |
2,255 |
2,497 |
(10%) |
|
Wholesale |
29 |
1,380 |
(98%) |
- |
- |
- |
29 |
1,380 |
(98%) |
29 |
1,380 |
(98%) |
|
Sub-Total |
3,432 |
5,435 |
(37%) |
183 |
192 |
(5%) |
3,615 |
5,627 |
(36%) |
|
4,292 |
6,258 |
(31%) |
|
|||||||||||||
DWP Rebates |
80 |
103 |
(22%) |
- |
- |
- |
80 |
103 |
(22%) |
80 |
103 |
(22%) |
|
|
|||||||||||||
Total UK Insurance Operations |
3,512 |
5,538 |
(37%) |
183 |
192 |
(5%) |
3,695 |
5,730 |
(36%) |
|
4,372 |
6,362 |
(31%) |
|
|||||||||||||
US Insurance Operations (1a) |
|
||||||||||||
Fixed Annuities |
841 |
1,141 |
(26%) |
- |
- |
- |
841 |
1,141 |
(26%) |
841 |
1,141 |
(26%) |
|
Fixed Index Annuities |
1,055 |
317 |
233% |
- |
- |
- |
1,055 |
317 |
233% |
1,055 |
317 |
233% |
|
Variable Annuities |
4,321 |
2,596 |
66% |
- |
- |
- |
4,321 |
2,596 |
66% |
4,321 |
2,596 |
66% |
|
Life |
7 |
6 |
17% |
18 |
18 |
0% |
25 |
24 |
4% |
143 |
145 |
(1%) |
|
Sub-Total Retail |
6,224 |
4,060 |
53% |
18 |
18 |
0% |
6,242 |
4,078 |
53% |
|
6,360 |
4,199 |
51% |
Guaranteed Investment Contracts |
- |
815 |
- |
- |
- |
- |
- |
815 |
- |
- |
815 |
- |
|
GIC - Medium Term Note |
- |
321 |
- |
- |
- |
- |
- |
321 |
- |
- |
321 |
- |
|
Total US Insurance Operations |
6,224 |
5,196 |
20% |
18 |
18 |
0% |
6,242 |
5,214 |
20% |
|
6,360 |
5,335 |
19% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asian Insurance Operations (1a) |
|
||||||||||||
China (9) |
58 |
47 |
23% |
28 |
23 |
22% |
86 |
70 |
23% |
193 |
164 |
18% |
|
Hong Kong |
64 |
460 |
(86%) |
144 |
113 |
27% |
208 |
573 |
(64%) |
931 |
1,162 |
(20%) |
|
India (6) |
37 |
53 |
(30%) |
112 |
168 |
(33%) |
149 |
221 |
(33%) |
409 |
606 |
(33%) |
|
Indonesia |
24 |
85 |
(72%) |
124 |
121 |
2% |
148 |
206 |
(28%) |
431 |
495 |
(13%) |
|
Japan |
50 |
94 |
(47%) |
35 |
24 |
46% |
85 |
118 |
(28%) |
212 |
205 |
3% |
|
Korea |
28 |
63 |
(56%) |
93 |
176 |
(47%) |
121 |
239 |
(49%) |
454 |
877 |
(48%) |
|
Malaysia |
50 |
22 |
127% |
79 |
64 |
23% |
129 |
86 |
50% |
474 |
377 |
26% |
|
Singapore |
162 |
306 |
(47%) |
64 |
56 |
14% |
226 |
362 |
(38%) |
653 |
753 |
(13%) |
|
Taiwan |
70 |
33 |
112% |
70 |
26 |
169% |
140 |
59 |
137% |
291 |
121 |
140% |
|
Other (4) |
17 |
14 |
21% |
41 |
40 |
3% |
58 |
54 |
7% |
151 |
140 |
8% |
|
Total Asian Insurance Operations |
560 |
1,177 |
(52%) |
790 |
811 |
(3%) |
1,350 |
1,988 |
(32%) |
|
4,199 |
4,900 |
(14%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Group Total |
10,296 |
11,911 |
(14%) |
991 |
1,021 |
(3%) |
11,287 |
12,932 |
(13%) |
|
14,931 |
16,597 |
(10%) |
Schedule 6 - Constant Exchange Rates
PRUDENTIAL PLC - NEW BUSINESS - NINE MONTHS 2009
TOTAL INSURANCE AND INVESTMENT NEW BUSINESS
|
UK |
|
US (1a) |
|
|
Asia (1a) |
|
Total |
|||||
|
|||||||||||||
2009 Q3 |
2008 Q3 |
2009 Q3 |
2008 Q3 |
2009 Q3 |
2008 Q3 |
2009 Q3 |
2008 Q3 |
||||||
YTD |
YTD |
+/-(%) |
YTD |
YTD |
+/-(%) |
YTD |
YTD |
+/-(%) |
YTD |
YTD |
+/-(%) |
||
|
£m |
£m |
£m |
£m |
£m |
£m |
£m |
£m |
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Insurance Products |
3,695 |
5,730 |
(36%) |
6,242 |
6,579 |
(5%) |
1,350 |
2,343 |
(42%) |
11,287 |
14,652 |
(23%) |
|
Total Investment Products Gross Inflows (2) |
18,441 |
12,114 |
52% |
6 |
40 |
(85%) |
52,668 |
37,744 |
40% |
71,115 |
49,898 |
43% |
|
22,136 |
17,844 |
24% |
6,248 |
6,619 |
(6%) |
54,018 |
40,087 |
35% |
|
82,402 |
64,550 |
28% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INSURANCE OPERATIONS
|
|
Single |
|
|
Regular |
|
|
Total |
|
|
PVNBP |
||
2009 Q3 |
2008 Q3 |
2009 Q3 |
2008 Q3 |
2009 Q3 |
2008 Q3 |
2009 Q3 |
2008 Q3 |
||||||
YTD |
YTD |
+/-(%) |
YTD |
YTD |
+/-(%) |
YTD |
YTD |
+/-(%) |
YTD |
YTD |
+/-(%) |
||
|
£m |
£m |
|
£m |
£m |
|
£m |
£m |
|
|
£m |
£m |
|
UK Insurance Operations |
|
||||||||||||
Product Summary |
|
||||||||||||
Internal Vesting annuities |
1,023 |
1,129 |
(9%) |
- |
- |
- |
1,023 |
1,129 |
(9%) |
1,023 |
1,129 |
(9%) |
|
Direct and Partnership Annuities |
424 |
550 |
(23%) |
- |
- |
- |
424 |
550 |
(23%) |
424 |
550 |
(23%) |
|
Intermediated Annuities |
196 |
401 |
(51%) |
- |
- |
- |
196 |
401 |
(51%) |
196 |
401 |
(51%) |
|
Total Individual Annuities |
1,643 |
2,080 |
(21%) |
- |
- |
- |
1,643 |
2,080 |
(21%) |
|
1,643 |
2,080 |
(21%) |
|
|||||||||||||
Income Drawdown |
70 |
54 |
30% |
- |
- |
- |
70 |
54 |
30% |
70 |
54 |
30% |
|
Equity Release |
84 |
188 |
(55%) |
- |
- |
- |
84 |
188 |
(55%) |
84 |
188 |
(55%) |
|
Individual Pensions |
145 |
52 |
179% |
5 |
2 |
150% |
150 |
54 |
178% |
159 |
57 |
179% |
|
Corporate Pensions |
55 |
154 |
(64%) |
61 |
64 |
(5%) |
116 |
218 |
(47%) |
386 |
455 |
(15%) |
|
Unit Linked Bonds |
83 |
88 |
(6%) |
- |
- |
- |
83 |
88 |
(6%) |
83 |
88 |
(6%) |
|
With-Profit Bonds |
969 |
651 |
49% |
- |
- |
- |
969 |
651 |
49% |
969 |
651 |
49% |
|
Protection |
- |
- |
- |
12 |
4 |
200% |
12 |
4 |
200% |
76 |
26 |
192% |
|
Offshore Products |
207 |
447 |
(54%) |
3 |
3 |
0% |
210 |
450 |
(53%) |
222 |
463 |
(52%) |
|
Pru Health (11) |
- |
- |
- |
9 |
14 |
(36%) |
9 |
14 |
(36%) |
82 |
129 |
(36%) |
|
Total Retail Retirement |
3,256 |
3,714 |
(12%) |
90 |
87 |
3% |
3,346 |
3,801 |
(12%) |
|
3,774 |
4,191 |
(10%) |
|
|||||||||||||
Corporate Pensions |
88 |
227 |
(61%) |
80 |
88 |
(9%) |
168 |
315 |
(47%) |
385 |
521 |
(26%) |
|
Other Products |
59 |
113 |
(48%) |
13 |
17 |
(24%) |
72 |
130 |
(45%) |
104 |
166 |
(37%) |
|
DWP Rebates |
80 |
103 |
(22%) |
- |
- |
- |
80 |
103 |
(22%) |
80 |
103 |
(22%) |
|
Total Mature Life and Pensions |
227 |
443 |
(49%) |
93 |
105 |
(11%) |
320 |
548 |
(42%) |
|
569 |
790 |
(28%) |
|
|||||||||||||
Total Retail |
3,483 |
4,157 |
(16%) |
183 |
192 |
(5%) |
3,666 |
4,349 |
(16%) |
|
4,343 |
4,981 |
(13%) |
|
|||||||||||||
Wholesale Annuities |
12 |
1,370 |
(99%) |
- |
- |
- |
12 |
1,370 |
(99%) |
12 |
1,370 |
(99%) |
|
|
|||||||||||||
Credit Life |
17 |
11 |
55% |
- |
- |
- |
17 |
11 |
55% |
17 |
11 |
55% |
|
|
|||||||||||||
Total UK Insurance Operations |
3,512 |
5,538 |
(37%) |
183 |
192 |
(5%) |
3,695 |
5,730 |
(36%) |
|
4,372 |
6,362 |
(31%) |
|
|||||||||||||
Channel Summary |
|
||||||||||||
Direct and Partnership |
1,347 |
1,729 |
(22%) |
149 |
161 |
(7%) |
1,496 |
1,890 |
(21%) |
2,008 |
2,381 |
(16%) |
|
Intermediated |
2,056 |
2,326 |
(12%) |
34 |
31 |
10% |
2,090 |
2,357 |
(11%) |
2,255 |
2,497 |
(10%) |
|
Wholesale |
29 |
1,380 |
(98%) |
- |
- |
- |
29 |
1,380 |
(98%) |
29 |
1,380 |
(98%) |
|
Sub-Total |
3,432 |
5,435 |
(37%) |
183 |
192 |
(5%) |
3,615 |
5,627 |
(36%) |
|
4,292 |
6,258 |
(31%) |
|
|||||||||||||
DWP Rebates |
80 |
103 |
(22%) |
- |
- |
- |
80 |
103 |
(22%) |
80 |
103 |
(22%) |
|
|
|||||||||||||
Total UK Insurance Operations |
3,512 |
5,538 |
(37%) |
183 |
192 |
(5%) |
3,695 |
5,730 |
(36%) |
|
4,372 |
6,362 |
(31%) |
|
|||||||||||||
US Insurance Operations (1a) |
|
||||||||||||
Fixed Annuities |
841 |
1,440 |
(42%) |
- |
- |
- |
841 |
1,440 |
(42%) |
841 |
1,440 |
(42%) |
|
Fixed Index Annuities |
1,055 |
400 |
164% |
- |
- |
- |
1,055 |
400 |
164% |
1,055 |
400 |
164% |
|
Variable Annuities |
4,321 |
3,276 |
32% |
- |
- |
- |
4,321 |
3,276 |
32% |
4,321 |
3,276 |
32% |
|
Life |
7 |
7 |
0% |
18 |
22 |
(18%) |
25 |
29 |
(14%) |
143 |
183 |
(22%) |
|
Sub-Total Retail |
6,224 |
5,123 |
21% |
18 |
22 |
(18%) |
6,242 |
5,145 |
21% |
|
6,360 |
5,299 |
20% |
Guaranteed Investment Contracts |
- |
1,029 |
- |
- |
- |
- |
- |
1,029 |
- |
- |
1,029 |
- |
|
GIC - Medium Term Note |
- |
405 |
- |
- |
- |
- |
- |
405 |
- |
- |
405 |
- |
|
Total US Insurance Operations |
6,224 |
6,557 |
(5%) |
18 |
22 |
(18%) |
6,242 |
6,579 |
(5%) |
|
6,360 |
6,733 |
(6%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asian Insurance Operations (1a) |
|
||||||||||||
China (9) |
58 |
61 |
(5%) |
28 |
29 |
(3%) |
86 |
90 |
(4%) |
193 |
211 |
(9%) |
|
Hong Kong |
64 |
584 |
(89%) |
144 |
143 |
1% |
208 |
727 |
(71%) |
931 |
1,475 |
(37%) |
|
India (6) |
37 |
57 |
(35%) |
112 |
180 |
(38%) |
149 |
237 |
(37%) |
409 |
651 |
(37%) |
|
Indonesia |
24 |
93 |
(74%) |
124 |
133 |
(7%) |
148 |
226 |
(35%) |
431 |
543 |
(21%) |
|
Japan |
50 |
133 |
(62%) |
35 |
33 |
6% |
85 |
166 |
(49%) |
212 |
289 |
(27%) |
|
Korea |
28 |
62 |
(55%) |
93 |
172 |
(46%) |
121 |
234 |
(48%) |
454 |
857 |
(47%) |
|
Malaysia |
50 |
26 |
92% |
79 |
74 |
7% |
129 |
100 |
29% |
474 |
435 |
9% |
|
Singapore |
162 |
365 |
(56%) |
64 |
67 |
(4%) |
226 |
432 |
(48%) |
653 |
897 |
(27%) |
|
Taiwan |
70 |
38 |
84% |
70 |
30 |
133% |
140 |
68 |
106% |
291 |
142 |
105% |
|
Other (4) |
17 |
16 |
6% |
41 |
47 |
(13%) |
58 |
63 |
(8%) |
151 |
163 |
(7%) |
|
Total Asian Insurance Operations |
560 |
1,435 |
(61%) |
790 |
908 |
(13%) |
1,350 |
2,343 |
(42%) |
|
4,199 |
5,663 |
(26%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Group Total |
10,296 |
13,530 |
(24%) |
991 |
1,122 |
(12%) |
11,287 |
14,652 |
(23%) |
|
14,931 |
18,758 |
(20%) |
Schedule 7 - Actual Exchange Rates
PRUDENTIAL PLC - NEW BUSINESS - QUARTER 3 2009 VERSUS QUARTER 3 2008
INSURANCE OPERATIONS
|
|
Single |
|
|
Regular |
|
|
Total |
|
|
PVNBP |
||
Q3 2009 |
Q3 2008 |
+/-(%) |
Q3 2009 |
Q3 2008 |
+/-(%) |
Q3 2009 |
Q3 2008 |
+/-(%) |
Q3 2009 |
Q3 2008 |
+/-(%) |
||
|
£m |
£m |
|
£m |
£m |
|
£m |
£m |
|
|
£m |
£m |
|
UK Insurance Operations |
|
||||||||||||
Product Summary |
|
||||||||||||
Internal Vesting annuities |
297 |
408 |
(27%) |
- |
- |
- |
297 |
408 |
(27%) |
297 |
408 |
(27%) |
|
Direct and Partnership Annuities |
151 |
177 |
(15%) |
- |
- |
- |
151 |
177 |
(15%) |
151 |
177 |
(15%) |
|
Intermediated Annuities |
56 |
116 |
(52%) |
- |
- |
- |
56 |
116 |
(52%) |
56 |
116 |
(52%) |
|
Total Individual Annuities |
504 |
701 |
(28%) |
- |
- |
- |
504 |
701 |
(28%) |
|
504 |
701 |
(28%) |
|
|||||||||||||
Income Drawdown |
24 |
24 |
0% |
- |
- |
- |
24 |
24 |
0% |
24 |
24 |
0% |
|
Equity Release |
30 |
71 |
(58%) |
- |
- |
- |
30 |
71 |
(58%) |
30 |
71 |
(58%) |
|
Individual Pensions |
47 |
20 |
135% |
2 |
1 |
100% |
49 |
21 |
133% |
52 |
22 |
136% |
|
Corporate Pensions |
8 |
60 |
(87%) |
17 |
26 |
(35%) |
25 |
86 |
(71%) |
100 |
175 |
(43%) |
|
Unit Linked Bonds |
34 |
21 |
62% |
- |
- |
- |
34 |
21 |
62% |
34 |
21 |
62% |
|
With-Profit Bonds |
285 |
233 |
22% |
- |
- |
- |
285 |
233 |
22% |
285 |
233 |
22% |
|
Protection |
- |
- |
- |
5 |
1 |
400% |
5 |
1 |
400% |
31 |
10 |
210% |
|
Offshore Products |
80 |
126 |
(37%) |
1 |
1 |
0% |
81 |
127 |
(36%) |
85 |
132 |
(36%) |
|
Pru Health (11) |
- |
- |
- |
3 |
6 |
(50%) |
3 |
6 |
(50%) |
26 |
50 |
(48%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Retail Retirement |
1,012 |
1,256 |
(19%) |
28 |
35 |
(20%) |
1,040 |
1,291 |
(19%) |
|
1,171 |
1,439 |
(19%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate Pensions |
20 |
54 |
(63%) |
21 |
26 |
(19%) |
41 |
80 |
(49%) |
100 |
145 |
(31%) |
|
Other Products |
20 |
36 |
(44%) |
3 |
6 |
(50%) |
23 |
42 |
(45%) |
30 |
47 |
(36%) |
|
DWP Rebates |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Total Mature Life and Pensions |
40 |
90 |
(56%) |
24 |
32 |
(25%) |
64 |
122 |
(48%) |
|
130 |
192 |
(32%) |
|
|||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Retail |
1,052 |
1,346 |
(22%) |
52 |
67 |
(22%) |
1,104 |
1,413 |
(22%) |
|
1,301 |
1,631 |
(20%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Wholesale Annuities |
4 |
1,063 |
(100%) |
- |
- |
- |
4 |
1,063 |
(100%) |
4 |
1,063 |
(100%) |
|
|
|||||||||||||
Credit Life |
5 |
4 |
25% |
- |
- |
- |
5 |
4 |
25% |
5 |
4 |
25% |
|
|
|||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total UK Insurance Operations |
1,061 |
2,413 |
(56%) |
52 |
67 |
(22%) |
1,113 |
2,480 |
(55%) |
|
1,310 |
2,698 |
(51%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Channel Summary |
|
||||||||||||
Direct and Partnership |
398 |
582 |
(32%) |
41 |
55 |
(25%) |
439 |
637 |
(31%) |
586 |
802 |
(27%) |
|
Intermediated |
654 |
764 |
(14%) |
11 |
12 |
(8%) |
665 |
776 |
(14%) |
715 |
828 |
(14%) |
|
Wholesale |
9 |
1,067 |
(99%) |
- |
- |
- |
9 |
1,067 |
(99%) |
9 |
1,067 |
(99%) |
|
Sub-Total |
1,061 |
2,413 |
(56%) |
52 |
67 |
(22%) |
1,113 |
2,480 |
(55%) |
|
1,310 |
2,697 |
(51%) |
|
|||||||||||||
DWP Rebates |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total UK Insurance Operations |
1,061 |
2,413 |
(56%) |
52 |
67 |
(22%) |
1,113 |
2,480 |
(55%) |
|
1,310 |
2,698 |
(51%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US Insurance Operations (1b)(8) |
|
||||||||||||
Fixed Annuities |
140 |
506 |
(72%) |
- |
- |
- |
140 |
506 |
(72%) |
140 |
506 |
(72%) |
|
Fixed Index Annuities |
480 |
121 |
297% |
- |
- |
- |
480 |
121 |
297% |
480 |
121 |
297% |
|
Variable Annuities |
1,804 |
799 |
126% |
- |
- |
- |
1,804 |
799 |
126% |
1,804 |
799 |
126% |
|
Life |
2 |
2 |
0% |
6 |
7 |
(14%) |
8 |
9 |
(11%) |
47 |
57 |
(18%) |
|
Sub-Total Retail |
2,426 |
1,428 |
70% |
6 |
7 |
(14%) |
2,432 |
1,435 |
69% |
|
2,471 |
1,483 |
67% |
Guaranteed Investment Contracts |
- |
310 |
- |
- |
- |
- |
- |
310 |
- |
- |
310 |
- |
|
GIC - Medium Term Note |
- |
5 |
- |
- |
- |
- |
- |
5 |
- |
- |
5 |
- |
|
Total US Insurance Operations |
2,426 |
1,743 |
39% |
6 |
7 |
(14%) |
2,432 |
1,750 |
39% |
|
2,471 |
1,798 |
37% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asian Insurance Operations (1b)(8) |
|
||||||||||||
China (9) |
15 |
12 |
25% |
11 |
8 |
38% |
26 |
20 |
30% |
68 |
53 |
28% |
|
Hong Kong |
33 |
114 |
(71%) |
52 |
35 |
49% |
85 |
149 |
(43%) |
349 |
328 |
6% |
|
India (6) |
5 |
13 |
(62%) |
39 |
46 |
(15%) |
44 |
59 |
(25%) |
137 |
156 |
(12%) |
|
Indonesia |
11 |
17 |
(35%) |
42 |
40 |
5% |
53 |
57 |
(7%) |
149 |
159 |
(6%) |
|
Japan |
12 |
26 |
(54%) |
10 |
3 |
233% |
22 |
29 |
(24%) |
57 |
42 |
36% |
|
Korea |
8 |
13 |
(38%) |
29 |
58 |
(50%) |
37 |
71 |
(48%) |
140 |
283 |
(51%) |
|
Malaysia |
17 |
8 |
113% |
30 |
26 |
15% |
47 |
34 |
38% |
179 |
152 |
18% |
|
Singapore |
47 |
30 |
57% |
24 |
19 |
26% |
71 |
49 |
45% |
244 |
206 |
18% |
|
Taiwan |
38 |
9 |
322% |
22 |
10 |
120% |
60 |
19 |
216% |
113 |
43 |
163% |
|
Other (4) |
9 |
4 |
125% |
14 |
11 |
27% |
23 |
15 |
53% |
57 |
43 |
33% |
|
Total Asian Insurance Operations |
195 |
246 |
(21%) |
273 |
256 |
7% |
468 |
502 |
(7%) |
|
1,493 |
1,465 |
2% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Group Total |
3,682 |
4,402 |
(16%) |
331 |
330 |
0% |
4,013 |
4,732 |
(15%) |
|
5,274 |
5,961 |
(12%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INVESTMENT OPERATIONS
|
|
|
|
|
|
|
Market & |
Net |
|
|
|
Opening |
|
Other |
Currency |
Movement |
Closing |
||||||
FUM |
|
Gross Inflows |
Redemptions |
Net Inflows |
Movements |
Movements |
In FUM |
FUM |
|||
|
£m |
|
£m |
£m |
£m |
£m |
£m |
£m |
|
£m |
|
|
|
|
|||||||||
M&G (5) |
Q3 2009 |
55,921 |
|
5,810 |
(3,298) |
2,512 |
(113) |
7,915 |
10,314 |
66,235 |
|
Q3 2008 |
51,699 |
|
4,623 |
(2,918) |
1,705 |
- |
(3,410) |
(1,705) |
49,994 |
||
+/-(%) |
8% |
|
26% |
(13%) |
47% |
- |
332% |
705% |
32% |
||
Asia Retail Mutual Funds |
Q3 2009 |
15,518 |
|
20,579 |
(20,142) |
437 |
(1) |
1,819 |
2,255 |
17,773 |
|
Q3 2008 |
14,845 |
|
11,552 |
(12,213) |
(661) |
(23) |
(567) |
(1,251) |
13,594 |
||
+/-(%) |
5% |
|
78% |
(65%) |
166% |
96% |
421% |
280% |
31% |
||
Asia Third Party |
Q3 2009 |
859 |
|
5 |
(7) |
(2) |
- |
151 |
149 |
1,008 |
|
Q3 2008 |
841 |
|
17 |
(46) |
(29) |
- |
(57) |
(86) |
755 |
||
+/-(%) |
2% |
|
(71%) |
85% |
93% |
- |
365% |
273% |
34% |
||
US Retail Mutual Funds |
Q3 2009 |
38 |
|
- |
(49) |
(49) |
1 |
10 |
(38) |
- |
|
Q3 2008 |
62 |
|
5 |
(9) |
(4) |
1 |
(1) |
(4) |
58 |
||
+/-(%) |
(39%) |
|
- |
(444%) |
(1,125%) |
0% |
1,100% |
(850%) |
(100%) |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Total Investment Products |
Q3 2009 |
72,336 |
|
26,394 |
(23,496) |
2,898 |
(113) |
9,895 |
12,680 |
85,016 |
|
Q3 2008 |
67,447 |
|
16,197 |
(15,186) |
1,011 |
(22) |
(4,035) |
(3,046) |
64,401 |
||
+/-(%) |
7% |
|
63% |
(55%) |
187% |
(414%) |
345% |
516% |
32% |
||
|
|
|
|
|
|
|
|
|
|
|
|
Schedule 8 - Actual Exchange Rates
PRUDENTIAL PLC - NEW BUSINESS - QUARTER 3 2009 VERSUS QUARTER 2 2009
INSURANCE OPERATIONS
|
|
Single |
|
|
Regular |
|
|
Total |
|
|
PVNBP |
||
Q3 2009 |
Q 2 2009 |
+/-(%) |
Q3 2009 |
Q 2 2009 |
+/-(%) |
Q3 2009 |
Q 2 2009 |
+/-(%) |
Q3 2009 |
Q 2 2009 |
+/-(%) |
||
|
£m |
£m |
|
£m |
£m |
|
£m |
£m |
|
|
£m |
£m |
|
UK Insurance Operations |
|
||||||||||||
Product Summary |
|
||||||||||||
Internal Vesting annuities |
297 |
335 |
(11%) |
- |
- |
- |
297 |
335 |
(11%) |
297 |
335 |
(11%) |
|
Direct and Partnership Annuities |
151 |
144 |
5% |
- |
- |
- |
151 |
144 |
5% |
151 |
144 |
5% |
|
Intermediated Annuities |
56 |
81 |
(31%) |
- |
- |
- |
56 |
81 |
(31%) |
56 |
81 |
(31%) |
|
Total Individual Annuities |
504 |
560 |
(10%) |
- |
- |
- |
504 |
560 |
(10%) |
|
504 |
560 |
(10%) |
|
|||||||||||||
Income Drawdown |
24 |
28 |
(14%) |
- |
- |
- |
24 |
28 |
(14%) |
24 |
28 |
(14%) |
|
Equity Release |
30 |
29 |
3% |
- |
- |
- |
30 |
29 |
3% |
30 |
29 |
3% |
|
Individual Pensions |
47 |
56 |
(16%) |
2 |
2 |
0% |
49 |
58 |
(16%) |
52 |
61 |
(15%) |
|
Corporate Pensions |
8 |
10 |
(20%) |
17 |
24 |
(29%) |
25 |
34 |
(26%) |
100 |
133 |
(25%) |
|
Unit Linked Bonds |
34 |
25 |
36% |
- |
- |
- |
34 |
25 |
36% |
34 |
25 |
36% |
|
With-Profit Bonds |
285 |
384 |
(26%) |
- |
- |
- |
285 |
384 |
(26%) |
285 |
384 |
(26%) |
|
Protection |
- |
- |
- |
5 |
4 |
25% |
5 |
4 |
25% |
31 |
27 |
15% |
|
Offshore Products |
80 |
68 |
18% |
1 |
1 |
0% |
81 |
69 |
17% |
85 |
73 |
16% |
|
Pru Health (11) |
- |
- |
- |
3 |
4 |
(25%) |
3 |
4 |
(25%) |
26 |
38 |
(32%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Retail Retirement |
1,012 |
1,160 |
(13%) |
28 |
35 |
(20%) |
1,040 |
1,195 |
(13%) |
|
1,171 |
1,358 |
(14%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate Pensions |
20 |
42 |
(52%) |
21 |
33 |
(36%) |
41 |
75 |
(45%) |
100 |
161 |
(38%) |
|
Other Products |
20 |
20 |
0% |
3 |
5 |
(40%) |
23 |
25 |
(8%) |
30 |
39 |
(23%) |
|
DWP Rebates |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Total Mature Life and Pensions |
40 |
62 |
(35%) |
24 |
38 |
(37%) |
64 |
100 |
(36%) |
|
130 |
200 |
(35%) |
|
|||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Retail |
1,052 |
1,222 |
(14%) |
52 |
73 |
(29%) |
1,104 |
1,295 |
(15%) |
|
1,301 |
1,558 |
(16%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Wholesale Annuities |
4 |
7 |
(43%) |
- |
- |
- |
4 |
7 |
(43%) |
4 |
7 |
(43%) |
|
|
|||||||||||||
Credit Life |
5 |
7 |
(29%) |
- |
- |
- |
5 |
7 |
(29%) |
5 |
7 |
(29%) |
|
|
|||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total UK Insurance Operations |
1,061 |
1,236 |
(14%) |
52 |
73 |
(29%) |
1,113 |
1,309 |
(15%) |
|
1,310 |
1,572 |
(17%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Channel Summary |
|
||||||||||||
Direct and Partnership |
398 |
451 |
(12%) |
41 |
59 |
(31%) |
439 |
510 |
(14%) |
586 |
701 |
(16%) |
|
Intermediated |
654 |
771 |
(15%) |
11 |
14 |
(21%) |
665 |
785 |
(15%) |
715 |
857 |
(17%) |
|
Wholesale |
9 |
14 |
(36%) |
- |
- |
- |
9 |
14 |
(36%) |
9 |
14 |
(36%) |
|
Sub-Total |
1,061 |
1,236 |
(14%) |
52 |
73 |
(29%) |
1,113 |
1,309 |
(15%) |
|
1,310 |
1,572 |
(17%) |
|
|||||||||||||
DWP Rebates |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total UK Insurance Operations |
1,061 |
1,236 |
(14%) |
52 |
73 |
(29%) |
1,113 |
1,309 |
(15%) |
|
1,310 |
1,572 |
(17%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US Insurance Operations (1b)(8) |
|
||||||||||||
Fixed Annuities |
140 |
218 |
(36%) |
- |
- |
- |
140 |
218 |
(36%) |
140 |
218 |
(36%) |
|
Fixed Index Annuities |
480 |
328 |
46% |
- |
- |
- |
480 |
328 |
46% |
480 |
328 |
46% |
|
Variable Annuities |
1,804 |
1,466 |
23% |
- |
- |
- |
1,804 |
1,466 |
23% |
1,804 |
1,466 |
23% |
|
Life |
2 |
3 |
(33%) |
6 |
6 |
0% |
8 |
9 |
(11%) |
47 |
37 |
27% |
|
Sub-Total Retail |
2,426 |
2,015 |
20% |
6 |
6 |
0% |
2,432 |
2,021 |
20% |
|
2,471 |
2,049 |
21% |
Guaranteed Investment Contracts |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
GIC - Medium Term Note |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Total US Insurance Operations |
2,426 |
2,015 |
20% |
6 |
6 |
0% |
2,432 |
2,021 |
20% |
|
2,471 |
2,049 |
21% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asian Insurance Operations (1b)(8) |
|
||||||||||||
China (9) |
15 |
16 |
(6%) |
11 |
9 |
22% |
26 |
25 |
4% |
68 |
57 |
19% |
|
Hong Kong |
33 |
22 |
50% |
52 |
47 |
11% |
85 |
69 |
23% |
349 |
289 |
21% |
|
India (6) |
5 |
9 |
(44%) |
39 |
19 |
105% |
44 |
28 |
57% |
137 |
74 |
85% |
|
Indonesia |
11 |
7 |
57% |
42 |
45 |
(7%) |
53 |
52 |
2% |
149 |
155 |
(4%) |
|
Japan |
12 |
22 |
(45%) |
10 |
10 |
0% |
22 |
32 |
(31%) |
57 |
73 |
(22%) |
|
Korea |
8 |
11 |
(27%) |
29 |
28 |
4% |
37 |
39 |
(5%) |
140 |
131 |
7% |
|
Malaysia |
17 |
28 |
(39%) |
30 |
26 |
15% |
47 |
54 |
(13%) |
179 |
166 |
8% |
|
Singapore |
47 |
86 |
(45%) |
24 |
21 |
14% |
71 |
107 |
(34%) |
244 |
257 |
(5%) |
|
Taiwan |
38 |
13 |
192% |
22 |
19 |
16% |
60 |
32 |
88% |
113 |
75 |
51% |
|
Other (4) |
9 |
5 |
80% |
14 |
14 |
0% |
23 |
19 |
21% |
57 |
50 |
14% |
|
Total Asian Insurance Operations |
195 |
219 |
(11%) |
273 |
238 |
15% |
468 |
457 |
2% |
|
1,493 |
1,327 |
13% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Group Total |
3,682 |
3,470 |
6% |
331 |
317 |
4% |
4,013 |
3,787 |
6% |
|
5,274 |
4,948 |
7% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INVESTMENT OPERATIONS
|
|
|
|
|
|
|
Market & |
Net |
|
|
|
Opening |
|
Other |
Currency |
Movement |
Closing |
||||||
FUM |
|
Gross Inflows |
Redemptions |
Net Inflows |
Movements |
Movements |
In FUM |
FUM |
|||
|
£m |
|
£m |
£m |
£m |
£m |
£m |
£m |
|
£m |
|
|
|
|
|||||||||
M&G (5) |
Q3 2009 |
55,921 |
|
5,810 |
(3,298) |
2,512 |
(113) |
7,915 |
10,314 |
66,235 |
|
Q2 2009 |
46,536 |
|
8,223 |
(2,141) |
6,082 |
35 |
3,268 |
9,385 |
55,921 |
||
+/-(%) |
20% |
|
(29%) |
(54%) |
(59%) |
(423%) |
142% |
10% |
18% |
||
Asia Retail Mutual Funds |
Q3 2009 |
15,518 |
|
20,579 |
(20,142) |
437 |
(1) |
1,819 |
2,255 |
17,773 |
|
Q2 2009 |
14,324 |
|
17,331 |
(16,062) |
1,269 |
(442) |
367 |
1,194 |
15,518 |
||
+/-(%) |
8% |
|
19% |
(25%) |
(66%) |
100% |
396% |
89% |
15% |
||
Asia Third Party |
Q3 2009 |
859 |
|
5 |
(7) |
(2) |
- |
151 |
149 |
1,008 |
|
Q2 2009 |
799 |
|
10 |
(8) |
2 |
- |
58 |
60 |
859 |
||
+/-(%) |
8% |
|
(50%) |
13% |
(200%) |
- |
160% |
148% |
17% |
||
US Retail Mutual Funds |
Q3 2009 |
38 |
|
- |
(49) |
(49) |
1 |
10 |
(38) |
- |
|
Q2 2009 |
44 |
|
3 |
(12) |
(9) |
- |
3 |
(6) |
38 |
||
+/-(%) |
(14%) |
|
- |
(308%) |
(444%) |
- |
233% |
(533%) |
- |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Total Investment Products |
Q3 2009 |
72,336 |
|
26,394 |
(23,496) |
2,898 |
(113) |
9,895 |
12,680 |
85,016 |
|
Q2 2009 |
61,703 |
|
25,567 |
(18,223) |
7,344 |
(407) |
3,696 |
10,633 |
72,336 |
||
+/-(%) |
17% |
|
3% |
(29%) |
(61%) |
72% |
168% |
19% |
18% |
||
|
|
|
|
|
|
|
|
|
|
|
|
Schedule 9 - Group Debt Securities at 30 September 2009
1. |
IFRS balance sheet fair value |
The Group's investments in debt securities at 30 September 2009 excluding holdings attributable to external unit holders are as follows:
With-profit |
Unit-linked and variable annuity |
Other shareholder backed business |
Total |
|||
(note 1a) |
(note 1a) |
(note 1e) |
||||
|
|
£bn |
£bn |
£bn |
|
£bn |
UK insurance operations |
40 |
4 |
19 |
(Notes 1b and 1c) |
63 |
|
Jackson National Life |
- |
- |
23 |
(Notes 1d and 3) |
23 |
|
Asia long-term business |
1 |
2 |
2 |
5 |
||
Other operations |
- |
- |
1 |
1 |
||
Total |
|
41 |
6 |
45 |
|
92 |
Notes
1a |
Shareholders are not directly exposed to value movements on assets backing with-profit, unit linked, and variable annuity business. |
1b |
Of the £19bn of debt securities for UK annuity and other non-linked shareholder backed business 32% was rated AAA, 11% AA, 35% A, 18% BBB and 4% other. |
1c |
For UK annuity business provision is made for possible future credit related losses. At 30 September 2009, a provision of £1.5bn was held. |
1d |
Jackson debt securities comprise: |
30 Sep 2009 |
30 Jun 2009 |
|||||
|
|
|
|
|
£m |
£m |
Corporate securities (92% investment grade) |
16,324 |
14,881 |
||||
Residential mortgage backed securities (62% government agency; 22% for pre 2006/2007 vintages; £554m for 2006/2007 vintages of which £371m is for the senior part of the capital structure) |
3,566 |
3,414 |
||||
Commercial mortgage backed securities |
2,034 |
1,725 |
||||
CDO funds |
133 |
207 |
||||
Other debt securities |
826 |
669 |
||||
Total |
|
|
|
|
22,883 |
20,896 |
1e |
Included within the £45bn of debt securities for other shareholder-backed business is exposure to £172m of investments in Tier 1 and £999m in Tier 2 borrowings of UK Banks. |
2 |
Defaults, losses from sales of impaired and deteriorating bonds and write-downs for non-linked shareholder backed business |
|
2.1 |
Jackson National Life |
|
In general, the debt securities of Jackson are purchased with the intention and the ability to hold them for the longer-term. The majority of Jackson's debt securities are classified as available-for-sale under IAS 39. Under this classification realised losses from defaults, sales of impaired and deteriorating bonds and write-downs are recorded in the income statement. Changes in unrealised appreciation and depreciation are recorded as a movement directly in shareholders' equity.
Jackson continues to review its investments on a case-by-case basis to determine whether any decline in fair value represents an impairment and therefore requires an accounting write-down. IFRS requires available-for-sale debt securities which are impaired to be written down to fair value through the profit and loss
account. In the first nine months of 2009, Jackson recorded £522 million (half year 2009: £366 million) of actual credit related losses which comprise the following: |
Nine months to 30 Sept 2009 |
Movement in quarter 3 |
Six months to 30 June 2009 |
|||
|
|
|
£m |
£m |
£m |
Corporate debt securities |
(80) |
- |
(80) |
||
Residential mortgage-backed securities (RMBS) |
|||||
Prime |
(189) |
(66) |
(123) |
||
Alt-A |
(163) |
(65) |
(98) |
||
Sub-prime |
(23) |
(5) |
(18) |
||
Other |
(25) |
(20) |
(5) |
||
Total bond write downs |
|
|
(480) |
(156) |
(324) |
Defaults |
- |
- |
- |
||
Losses on sale of impaired and deteriorating bonds net of recoveries |
(42) |
- |
(42) |
||
Total |
|
|
(522) |
(156) |
(366) |
2.2 |
Other shareholder backed business (excluding Jackson National Life) |
|
For the Group's operations, other than Jackson National Life, debt securities are accounted for on a fair value through P&L basis with all value movements recorded in the income statement. The defaults for the 3 months to 30 September 2009 (measured against market value) for other shareholder backed business excluding Jackson National Life were as follows: |
Defaults |
||
|
|
£m |
UK Insurance operations |
- |
|
Asia long-term business |
- |
|
Other operations |
- |
|
Total |
|
- |
3. |
Jackson National Life - securities in an unrealised loss position |
|
For Jackson's securities classified as available-for-sale under IAS 39, at 30 September 2009 there was a net unrealised loss position of £173 million. This amount comprised £1,056 million of gross unrealised gains and £1,229 million of gross unrealised losses on individual securities. Under IFRS unrealised
losses are only applicable for securities which have not been impaired during the period. Securities impaired during the period are written down to fair value through the profit and loss in full. Note 2.1 shows the element of write downs in 2009. Included within the gross unrealised losses is £839 million for securities which are valued at less than 80 per cent of book value, of which 43 per cent have been at this level for less than 6 months. IFRS requires securities to be carried at fair value, being the amount for which the security would be exchanged between knowledgeable, willing parties in an arm's length transaction. The best evidence of fair value is quoted prices in an active market, but if the market is not active then a valuation technique is used to establish fair value. |
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(a) |
Movements in the values for the 3 months to 30 September 2009: |
|
Movements in the values of available-for-sale securities for the three months to 30 September 2009 are included in the table shown below: |
|
Change reflected directly in shareholders' equity |
|||||
30 September 2009 |
Movement in Quarter 3 |
Foreign exchange translation* |
Quarter 3 including Foreign exchange |
30 June 2009 |
||
|
|
£m |
£m |
£m |
£m |
£m |
Assets fair valued at below book value |
|
|
||||
Book value |
7,631 |
|
|
|
13,677 |
|
Unrealised loss |
(1,229) |
1,035 |
(40) |
995 |
(2,224) |
|
Fair value (as included in balance sheet) |
6,402 |
|
|
|
11,453 |
|
Assets fair valued at or above book value |
|
|
|
|
||
Book value |
15,278 |
|
|
|
8,870 |
|
Unrealised gain |
|
1,056 |
602 |
28 |
630 |
426 |
Fair value (as included in the balance sheet) |
16,334 |
|
|
|
9,296 |
|
Total |
|
|
|
|||
Book value |
22,909 |
|
|
|
22,547 |
|
Net unrealised loss |
|
(173) |
1,637 |
(12) |
1,625 |
(1,798) |
Fair value (as included in balance sheet) |
|
22,736 |
|
|
|
20,749 |
(b) |
Fair value of securities in an unrealised loss position as a percentage of book value |
|
(i) |
Fair value of securities as a percentage of book value |
|
The unrealised losses in the Jackson balance sheet on unimpaired securities are £1,229 million (HY09: £2,224 million) relating to assets with fair value and book value of £6,402 million (HY09: £11,453 million) and £7,631 million (HY09: £13,677 million) respectively. The following table shows the fair value of the securities in a gross unrealised loss position for various percentages of book value: |
Fair value |
Unrealised loss |
Fair value |
Unrealised loss |
||
30 Sep 2009 |
30 Sep 2009 |
30 Jun 2009 |
30 Jun 2009 |
||
|
£m |
£m |
£m |
£m |
|
Between 90% and 100% |
3,817 |
(160) |
6,743 |
(265) |
|
Between 80% and 90% |
1,370 |
(230) |
2,487 |
(428) |
|
Below 80% |
1,215 |
(839) |
2,223 |
(1,531) |
|
|
|
6,402 |
(1,229) |
11,453 |
(2,224) |
(ii) |
Fair value of sub-prime and Alt-A securities as a percentage of book value |
|
Included within the table above are amounts relating to sub-prime and Alt-A securities in a gross unrealised loss position for various percentages of book value of: |
Fair value |
Unrealised loss |
Fair value |
Unrealised loss |
|||
30 Sep 2009 |
30 Sep 2009 |
30 Jun 2009 |
30 Jun 2009 |
|||
|
|
|
£m |
£m |
£m |
£m |
Between 90% and 100% |
89 |
(2) |
38 |
(3) |
||
Between 80% and 90% |
156 |
(29) |
93 |
(18) |
||
Below 80% |
216 |
(149) |
305 |
(278) |
||
|
|
|
461 |
(180) |
436 |
(299) |
(c) |
Securities whose fair value were below 80 per cent of the book value |
|
As shown in the table above, £839 million (HY09: £1,531 million) of the £1,229 million (HY09: £2,224 million) of gross unrealised losses at 30 September 2009 related to securities whose fair value were below 80 per cent of the book value. The age analysis for this £839 million (HY09: £1,531 million), indicating the length of time for which their fair value was below 80 per cent of the book value, is as follows: |
Fair value |
Unrealised loss |
Fair value |
Unrealised loss |
||
30 Sep 2009 |
30 Sep 2009 |
30 Jun 2009 |
30 Jun 2009 |
||
|
|
£m |
£m |
£m |
£m |
Less than 3 months |
63 |
(26) |
767 |
(561) |
|
3 months to 6 months |
462 |
(332) |
393 |
(272) |
|
More than 6 months |
690 |
(481) |
1,063 |
(698) |
|
|
|
1,215 |
(839) |
2,223 |
(1,531) |
For securities valued at less than 80 per cent of book value, 65 per cent are investment grade. The analysis by category of debt securities whose fair value were below 80 per cent of the book value is as follows: |
Fair value |
Unrealised loss |
Fair value |
Unrealised loss |
||
30 Sep 2009 |
30 Sep 2009 |
30 Jun 2009 |
30 Jun 2009 |
||
|
|
£m |
£m |
£m |
£m |
RMBS |
|||||
Prime |
387 |
(240) |
404 |
(364) |
|
Alt-A |
111 |
(61) |
187 |
(154) |
|
Sub-prime |
|
105 |
(88) |
118 |
(124) |
603 |
(389) |
709 |
(642) |
||
Commercial mortgage backed securities |
148 |
(105) |
478 |
(263) |
|
Other asset backed securities |
|
239 |
(237) |
256 |
(302) |
Total structured securities |
990 |
(731) |
1,443 |
(1,207) |
|
Corporates |
225 |
(108) |
780 |
(324) |
|
|
|
1,215 |
(839) |
2,223 |
(1,531) |
|
|
|
|
|
|
* |
Balance sheet items for Jackson National Life have been translated at the closing rate for the period, being $1.5994 at 30 September 2009. Jackson National Life income statement movements have been translated at the average exchange rate for the period, being $1.6404 for 3 months to 30 September 2009. |
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.
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.
Notes to Schedules 1 - 8
(1a) |
Insurance and investment new business for overseas operations has been calculated using average exchange rates. The applicable rate for Jackson is 1.54 (2008: 1.95). |
(1b) |
Insurance and investment new business for overseas operations has been calculated using constant exchange rates. The applicable rate for Jackson is 1.54. |
(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. |
(7) |
Balance sheet figures have been calculated at the closing exchange rate. Prior year 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) |
New business in China is included at Prudential's 50 per cent interest in the China life operation. |
(10) |
Mandatory Provident Fund (MPF) product sales in Hong Kong are included at Prudential's 36 per cent interest in Hong Kong MPF operation. |
(11) |
Pru Health sales exclude £6m (£3m 50% share) of Trust business |
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 28 October 2009
PRUDENTIAL PUBLIC LIMITED COMPANY |
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By: /s/ Susan Henderson |
|
Susan Henderson |
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Deputy Group Secretary |