Prudential new business profits rise

Prudential has made a strong start to the year with first quarter new business profits of £856m, up 25% on a constant currency basis and 42% up at actual exchange rates.

An update issued ahead of today's annual general meeting said the group had seen continued positive momentum, building on the improving trends experienced in the second half of 2016.

Prudential has also published its 31 December 2016 group solvency and financial condition report and related quantitative reporting templates.

In addition, The Prudential Assurance Co has published its corresponding 'solo' entity regulatory report and templates.

Looking ahead, the update said: "Prudential's strategy remains centred on the favourable structural opportunities in its three key regions of Asia, the US and the UK.

"We continue to focus on the build-out of our execution capabilities from a strong base, meeting growing demand from customers for our products and enhancing the growth prospects of the Group.

"We are making good operational progress across our businesses and continue to benefit from the scale and diversity of our business platform. Prudential is extremely well-capitalised and remains highly capital-generative.

"We are well positioned to continue to deliver value for both our customers and our shareholders."

At 9:56am: (LON:PRU) Prudential PLC share price was -20.5p at 1710.5p