Prudential Says Profit Target Is More Challenging as China Weighs on Sales
Third-quarter annual premium equivalent sales fell 6% to $1.6bn amid weaker mainland China volumes, while new business profit rose 1% to $709m.
At the group level, annual premium equivalent (APE) sales fell 6% to $1.6bn in the third quarter due to weaker sales volumes in mainland China, though improving new business margins helped drive a 1% increase in new business profit NASDAQ:NBP to $709m.Excluding mainland China, the Asia-focused insu…