Prudential Plc · LSE:PRU
Prudential — Shareholder Meeting (May 2024)
12 slides from Prudential's shareholder meeting presentation, May 23, 2024
Slide 1: Prudential plc
Prudential plc 23 May 2024 2378.HK PRU.L
Slide 2: Forward-looking statements
Forward-looking statements This presentation contains 'forward-looking statements' with respect to certain of Prudential's (and its wholly and jointly owned • The timing, impact and other uncertainties of future acquisitions or combinations within relevant industries; businesses’) plans and its goal
Slide 3: Prudential is a great franchise
Prudential is a great franchise Broad footprint Trusted Leading positions Multi-channel Expertise across household in high growth distribution in Asian Asia & Africa brand life markets at scale investments 4 billion 18 million Top 3 68k Top 10 combined population customers positions in 10 Asian acti
Slide 4: But what needed to change?
But what needed to change? Speed of response to changing dynamics led to market share loss in key markets Demerger processes distracted from building core capabilities Customer experiences not sufficiently differentiated leading to mid-tier NPS Investment in technology not strongly correlated to com
Slide 5: We are Executing our Clear and Simple Strategy at Pace
We are Executing our Clear and Simple Strategy at Pace Organisational model replicating successes at pace and scale Multi-market growth engines Greater China ASEAN India Africa Strategic pillars Enhancing Customer Technology-powered Transforming Health Experiences Distribution business model Group-w
Slide 6: 2027 Objectives: Success Metrics
2027 Objectives: Success Metrics Strategic Pillars Enhancing Customer Experiences Top-quartile 90-95% On track Customer NPS Retention ratio Technology-powered Distribution: Agency 80-90k 2.5-3x On track Active agents per month Agency NBP Technology-powered Distribution: Bancassurance ~9-11% 1.5-2x O
Slide 7: Excellent Financial and Operational Performance in 2023
Excellent Financial and Operational Performance in 2023 Exceptional growth Strong growth in operating profits +45% +8% 3.1 2.7 2.9 2.1 FY22 FY23 FY22 FY23 New business profit, $bn IFRS operating profit, $bn +37% +17% 5.9 4.3 3.9 4.5 FY22 FY23 FY22 FY23 APE sales, $bn EEV operating profit, $bn Note:
Slide 8: 1Q 2024 Business Performance Update
1Q 2024 Business Performance Update Continued momentum against Capital update strong comparator +11% “We remain focused on 0.8 0.7 accelerating value creation for 1Q23 (CER) 1Q24 our shareholders, and we expect New Business Profit ex economics, $bn (cum economics: ~0% YoY) to provide an update on ou
Slide 9: Key messages
Key messages Financial objectives Prudential a great franchise, well positioned to 1. capture significant growth opportunities Relentless execution of our new strategy with New business profit 2. measurable progress CAGR 2022-2027: 15-20% Excellent financial and operational performance 3. in 2023 Gr
Slide 10: Appendix
Appendix 10
Slide 11: Investment case
Investment case Leading positions in high growth markets of Asia & Africa. Driven by significant need for health, protection and rising wealth Top 3 Positions in 10 Asian life markets 4bn Combined population Multi-channel distribution at scale 68,000 Average monthly active agents #1 Independent insu
Slide 12: Diversified franchise with leading presence in markets with favourable macro trends
Diversified franchise10 with leading presence in markets with favourable macro trends HY23 IFRS17 FY23 IFRS17 Life Life g Eastspring Insurance Insurance Total Total health health 2022 -2028 2022-28 2022-33 1 6 7 adjusted adjusted op. position position1 position position6 penetration penetration7 pro