Slide 1: Prudential plc 2022 Half Year Results
Prudential plc 2022 Half Year Results 10 August 2022
Slide 2: Forward-looking statements
Forward-looking statements This presentation may contain ‘forward-looking statements’ with respect to certain of Prudential's (and its wholly and jointly owned businesses’) plans and its goals and expectations relating to its future financial condition, performance, results, strategy and objectives.
Slide 3: Mark FitzPatrick, Group Chief Executive
Mark FitzPatrick Group Chief Executive
Slide 4: Compelling investment case
Compelling investment case 1 Business model aligned to structural growth drivers Expect to deliver long-term growth Growth rates of NBP are expected to substantially outperformance exceed GDP growth 2 Diversification across Asia & Africa Funding further profitable Sustainable growth 3 Digitally enha
Slide 5: Significant growth opportunities
1 Significant growth opportunities 5
Slide 6: Growth underpinned by structural demand drivers
Growth underpinned by ~$900bn of additional industry life structural demand drivers GWP6 by 2032 in our Asian markets 2.8% 1.8tn Increase from Low Health growth in size x2 of life GWP6 pool penetration1 protection gap2 >60 29 40% +1.5bn Asia contribution Growing middle to global GDP class4 2021 2032
Slide 7: Diversified platform
2 Diversified platform 7
Slide 8: Diversified market leading platform focused on Asia & Africa
Diversified market leading platform focused on Asia & Africa 99 19.3m Years in Asia Life customers Top 3 in11 3.9bn Africa Asia life markets1 Access to $76m population HY22 APE HY22 APE ($m) Greater China 1,015 Southeast Asia 1,002 India 120 1. As reported at full year 2021. Sources include formal (
Slide 9: Distinct competitive advantages
Distinct competitive advantages Chinese India Indonesia Thailand Mainland Access to nearly whole Top 3 life and asset Strong market A leading of Chinese Mainland manager positioning bancassurance player #1 15% market share2 Overall market share4 Upscaling the business significantly through > 80% #1
Slide 10: Well-positioned to capture Southeast Asia's significant long-term potential
Well-positioned to capture Southeast Asia’s significant long-term potential Significant growth Enhanced High quality opportunities platform growth NBP Access to population of 670m Top 3 in 8 out of 9 ASEAN markets $1,249m Fast growing middle-class Growing high quality agency 12% Low insurance penetr
Slide 11: Digitally enhanced multi-channel model
3 Digitally enhanced multi-channel model 11
Slide 12: Enhancing our agency force
Enhancing our Investing for growth agency force At scale Growing Greater scale productivity > 530k + 5% + 4% Cases per active -24% Agents New recruits -14% excl. economics agent 775 Quality Growing reach Improving 587 quality 7.0k 4.8m 13% HY21 HY22 c + Agency new business profit ($m) MDRTs1 Leads g
Slide 13: Enhancing our bancassurance distribution
Enhancing our Investing for growth bancassurance distribution Strong Increasing Increasing positioning scale reach > 170 Bank partners + 25% APE growth 22 New bank +31% +26% excl. economics partnerships 463 Reach Balanced mix Improving 354 quality 27k 47% 10 HY21 HY22 > Bancassurance new business pr
Slide 14: Innovative & consumer centric
4 Innovative & consumer centric 14
Slide 15: Continued innovation and enhancing our product & digital capabilities
New or enhanced Continued innovation and enhancing our products product & digital capabilities Inclusive offerings Digital innovation New or enhanced products Broadening access to Modern families 90 new customers > Muslim community Enrich customer engagement New D2C Small and medium Proposition cent
Slide 16: Delivering for 19.3m life customers as a trusted partner
Delivering for 19.3m life customers as a trusted partner Leading customer experience High customer satisfaction 75% Top 3 Smart underwriting rate1 NPS in 5 out of 7 markets3 24% > 90% Smart claims rate2 Customer retention ratio 1. % of policies which are auto-underwritten. 2. % of policies where cla
Slide 17: Leading Asia-based asset manager
5 Leading Asia-based asset manager 17
Slide 18: Eastspring – experts in Asia. Invested in your future
Eastspring – experts in Asia. Invested in your future Significant growth Strong Competitive opportunities platform advantages 22% Leading Asia-based asset manager Top 10 positions in 6 out of 11 markets1 Low mutual fund penetration > 50% Broad regional presence 300 investment professionals providing
Slide 19: Disciplined execution of our strategy to deliver growth & value
Disciplined execution of our strategy to deliver growth & value 19
Slide 20: HY22 Financial highlights
APE sales, $m New business profit, $m HY22 Financial +9% -5% highlights 0% excl. economics 2,213 1,155 1,098 2,036 Resilient broad- based delivery HY21 HY22 HY21 HY22 Continued IFRS operating profit, $m Operating free surplus generation Life & Eastspring, $m investment in operational +8%1 +12% capab
Slide 21: Proven model of delivering growth & value
Proven model of delivering growth & value New business profit1,3,5, $m IFRS operating profit2,3,5, $m 2.0X 3.3X HK MCH NBP7 4,023 2,526 1,253 1,214 FY11 FY21 FY11 FY21 Embedded value2,4,5, $bn Operating free surplus generation2,3,5,6, $m 3.3X 2.8X 2,071 46.1 747 14.0 FY11 FY21 FY11 FY21 1. Continuin
Slide 22: Key messages: Delivering sustainable growth & value
Key messages: Delivering sustainable growth & value 1 Diversified pure-play Asia & Africa with leading positions in key high growth markets 2 Enhancing capabilities building on our substantial competitive advantages 3 High quality resilient growth in HY22 despite challenging environment 4 Successful
Slide 23: James Turner, Group CFO
at a James Turner Group CFO s2/f PRUDENTIAL
Slide 24: Delivering sustainable growth & value
Delivering sustainable growth & value 1 Diverse sources of Growth 2 Earnings Momentum 3 Robust Capital 4 Quality & Resilience 24
Slide 25: HY22 resilient results
HY22 resilient $bn HY21 HY22 results APE 2.01 2.2 +9%1 Growth NBP 1.21 1.1 (5)%1 Group EEV 47.4 42.3 (11)% (31 Dec. 2021) (30 Jun. 2022) Diverse sources of growth Group IFRS Earnings 1.51 1.7 +8%1 operating profit Strong capital surplus Free surplus stock2 8.4 8.6 (31 Dec. 2021)4 (30 Jun. 2022) Capi
Slide 26: Challenging market context to navigate
Challenging market context to navigate Covid disruption1 Equities down Rates up Spreads wider Indicative restriction levels Equity indices 30 Jun ‘22 YoY & 10Y gov. bond yield, 30 Jun ‘22 YoY 30 Jun ‘22 YoY & vs 31 Dec ‘21, by market vs 31 Dec ‘21, % & vs 31 Dec ‘21, bps bps 1Q 2Q 3Q 4Q 1Q 2Q 21 21
Slide 27: APE: $2.2bn
Pan Asia & Africa Multi-channel Strong franchise Other CPL 23%1 Agency 36% Growth mkts 36% HK 10% APE growth Sing. Malay. Indo. 5% Banca 53% 8% 18% +9%2 APE by market, HY22 APE by channel, HY22 Well-balanced Recurring premium Linked New single H&P 21% 24% APE: $2.2bn Non Par Par 27% 28% New regular
Slide 28: Sales momentum maintained
YoY APE sales growth by month, 2021-July 20221 2Q22: 1Q22: Rapid Positive rebound with momentum normalisation maintained in many during Covid markets Sales 132% 141% 127% restrictions momentum 120% 118% 112% 113% 113% 109% 109% 107% 105% 104% 103% 101% maintained 99% 99% 95% 89% Jan Feb Mar Apr May
Slide 29: NBP: $1.1bn
NBP excl. economics High quality NBP development HY21-HY22, $m resilient performance (55) 101 (44) +0% (59) (5)% 1,155 1,157 1,098 1,098 HY21 Volumes Country mix Product/Channel HY22 excl. Economics HY22 Diverse sources (CER) mix/Other Economics of growth High quality Diversified NBP by product, HY2
Slide 30: EEV driven by NBP & expected return, offset by economics
EEV driven by NBP & expected return, offset by economics Group EEV development HY22, $bn EEV operating profit: $1.8bn (HY21 CER2: $1.7bn) RoEV3 8% (HY21: 8%) 1.2 0.1 1.1 (0.2) (0.4) (5.2) (0.8) (0.5) (0.3) 49.2 47.4 43.2 42.6 42.3 42.3 1 EEV FY21 NBP Expected return Op variances Eastspring Central c
Slide 31: Earnings Momentum: Group operating profit +8%
Earnings Momentum: Group operating profit +8%1 Well diversified life profit High quality Central costs reducing Life IFRS operating profit, HY22 IFRS insurance income, HY22 Group P&L HY21-22 % YoY CER1 $m HY21 HY22 % CPL+7%2 Spread (CER1) Growth With Profit Life 1,768 1,898 7% Hong Kong +10% Eastspr
Slide 32: IFRS17 programme well advanced
IFRS17 programme well advanced Expected outcomes In progress Outstanding • Strategy and dividend policy • Key accounting judgements • Some judgements pending unchanged agreed, subject to external audit industry developments • Value and capital metrics • Production and audit of Opening • External aud
Slide 33: Robust capital: strong regulatory capital & balance sheet
Robust capital $16.2bn $8.6bn • Regulatory capital and ratings metrics Group shareholder GPCR Shareholder Free Surplus1,6 surplus1,2,3,4 remain strong • Significant financial flexibility to support 317% 22%/AA- Strong regulatory future investments Group shareholder GPCR Moody’s total leverage ratio1
Slide 34: Group free surplus development
Group free surplus development1 Primed HY22, $bn for growth 0.1 (0.3) (0.4) 1.4 (0.3) (1.7) 1.4 Strong in-force 8.6 8.4 Group OFSG3: $0.8bn capital generation (HY21 CER4: $0.7bn) High returns on Free surplus 31 Dec 20212 In-force profit New business investment 5 Eastspring Central costs Dividend pai
Slide 35: Quality & resilience: GWS capital position
GWS shareholder capital position Quality & 31 December 2021 – 30 June 2022, $bn1 resilience Cover ratio: 545% 548% 320% 317% Strong & resilient 25.5 23.7 25.5 23.7 Surplus: 20.8 19.4 17.5 16.2 GWS capital position 4.7 8.0 7.5 4.3 Macro sensitivities 2021 2021GMCR GMCR2,3 HY22HY22 GMCRGMCR5 2021 2021
Slide 36: Quality & resilience: Meeting customer needs
Quality & resilience: Meeting customer needs High customer retention through cycle1 2008-HY22 Asia EEV $8.1bn c5x $40.3bn 31 Dec 2008 30 Jun 2022 >90% >90% >90% >90% >90% >90% >90% >90% >90% >90% >90% >90% >90% 89% 89% MSCI Asia Ex Japan 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 20
Slide 37: Quality & resilience: Actively managing inflation risk
Quality & resilience: Actively managing inflation risk Considerations Impact on business Mitigants • Product • Adverse economic conditions • Asset-liability matching, & asset value volatility prudent asset allocation, • Pricing strong participating funds • Lower consumer disposable • Persistency inc
Slide 38: Summary: High quality and resilient franchise
Summary: High quality and resilient franchise • Strong execution delivers growth in challenging markets • Positioned to capture growth opportunities • Free surplus stock provides capacity to invest • Robust regulatory capital position • Commitment to achieving long-term double-digit growth in EEV pe
Slide 39: Lilian Ng, Managing Director, Strategic Business Group
Lilian Ng Managing Director, Strategic Business Group
Slide 40: Chinese Mainland: Unparalleled platform for customer growth
Chinese Mainland: Unparalleled platform for customer growth Integrated risk rating1 GWP growth2 Broadest Geographic Coverage Solid and scalable foundation 25 quarters “A” +13% 23 branches (99 cities) Serving 1.7m customers Most achieved insurer 3.6 times industry Diverse distribution platform # of E
Slide 41: Hong Kong: Resilient platform to serve customers
Hong Kong: Resilient platform to serve customers Satisfaction Retention Omni-channel Platform to Serve Customer advocacy # 1 > 98% 1.35m customers Digital self-servicing 195k transactions Voice of customers1 Strong loyalty Resilient distribution platform Active agents Banca value 5.9/active 86% Q2/Q
Slide 42: Solmaz Altin, Managing Director, Strategic Business Group
Solmaz Altin Managing Director, Strategic Business Group
Slide 43: Indonesia: Resilience supported by broadening & strengthening capabilities
Indonesia: Resilience supported by broadening & strengthening capabilities New business profit, $m #1 MDRT company # 1 # 1 Agency force Sharia market share -7% 56 52 Agency transformation Initiatives Enhance bancassurance capabilities HY21 HY22 Customer centricity and digitising core APE sales 116 1
Slide 44: Malaysia: Strong positioning
Malaysia: Strong positioning 24k 36% New business profit, $m + #1 MDRT No. of agents YoY increase in MDRTs company One of the largest Increase in quality -36% agency forces 109 70 Strong # 1 + 15% HY21 HY22 Takaful base Takaful market YoY growth in Takaful leadership1 agents to c.19k APE sales 202 1
Slide 45: Philippines: Strong positioning supports continued momentum
Philippines: Strong positioning supports continued momentum APE sales, $m Enhancing distribution ~x 2 + 15% capabilities Increase in new Increase in no. +5% recruits to 9.2k of active agents 83 87 st Product 1 in market CI Protection Plan covering up HY21 HY22 innovation to 4 family members in 1 pol
Slide 46: Dennis Tan, Managing Director, Strategic Business Group
Dennis Tan Managing Director, Strategic Business Group
Slide 47: Singapore: Strong positioning supports continued momentum
Singapore: Strong positioning supports continued momentum New business profit, $m Enhancing distribution > 1k + 53% capabilities MDRT members, Strong growth +16% ranked #3 in SG in banca NBP 244 210 Broadening Highly customised ILP solutions product that meet retirement and HY21 HY22 innovation prot
Slide 48: Thailand: Strong progress
Thailand: Strong progress Enhancing # 3 Market share in Banca > 3.6k APE sales, $m distribution 0.4% 7.9% No. of TTB capabilities Sector Pru Thailand sales people +9% Banca APE YoY growth1 91 99 Broadening product 4x 3x HY21 HY22 APE growth in health APE growth innovation reimbursement in whole life
Slide 49: Appendix Contents
Appendix Contents: CEO appendix 50 CFO appendix 61 49
Slide 50: CEO appendix
CEO appendix
Slide 51: ESG
ESG Inclusive product development • Focus on digital innovation to increase penetration in underserved Making health populations and financial • Developed more inclusive product, security notably Made for every Family Building modern family focus Inclusive workplace social capital accessible • Shari
Slide 52: Leading pan-Asia & Africa focused life & health insurer and asset manager
Leading pan-Asia & Africa focused life & health insurer and asset manager Why? Who? What? How? Our Purpose 19.3m customers1 >90 new and revamped Multi-channel distribution products in HY22 We help people get the most out of life We make healthcare Large Expanding affordable and accessible Pan-Asian
Slide 53: Diversified franchise with leading presence in markets with favourable macro trends
Diversified franchise with leading presence in markets with favourable macro trends HY22 IFRS Life Eastspring Insurance Total health GDP growth adjusted position1 position6 penetration7 protection forecast9 operating gap8 profit Chinese $149m Top 32 2.1% $805bn 5.0% Mainland Hong Kong $501m Top 3
Slide 54: Distinct competitive advantages
Distinct competitive advantages 1 Chinese Mainland: Access to nearly whole of country 5 Pulse: Compelling digital strategy >80% 23 branches All-in-one, personalised & presence and on-demand AI-powered app in 99 cities Engage Onboard Fulfilment GDP & GWP1 2 India: Top 3 Life and Asset Manager2 6 Agen
Slide 55: Chinese Mainland and Hong Kong: New business results
Chinese Mainland and Hong Kong: New business results Chinese Mainland Hong Kong New business profit, $m New business profit, $m -4% -31% 227 217 304 211 HY21 HY22 HY21 HY22 APE sales 447 507 +13% APE sales 251 227 -10% Margin Margin Total 51% 43% -8ppt Total 121% 93% -28ppt Agency 81% 62% -19ppt Ban
Slide 56: Chinese Mainland: Our City Cluster Model
Chinese Mainland: Our “City Cluster” Model Citic-Prudential Life (CPL) GWP, $bn1 CPL GWP GWP CPL GWP CPL Banca Agency CAGR Mix %2 Market Share % Channel3 Channel3 # of # of 3.6x $2.4bn (1H16- China # of CPL 1H16 1H22 Agents Outlets 1H22) Market Partners6 (,000)7 (,000)7 $2.2bn $2.0bn $1.8bn Rest 37%
Slide 57: Africa: Ongoing business momentum driven by innovation
Africa: Ongoing business momentum driven by innovation Digital Partnerships Agency Bancassurance $76 million of APE sales Build data-led >13,000 agents >1,000 branches, >40 bank Distribution +17% value propositions partners for our customers. Agents in Nigeria and Ghana Increase reach have already a
Slide 58: Reinforced leadership in Sharia and Takaful
Reinforced leadership in Sharia and Takaful Malaysia Takaful 30% market share2 19k agents; +15% Broadening access to new 240m # 1 Indonesia Sharia 29% market share2 Covid restrictions & repricing Muslims in SE Asia customers 163k agents; +19% actions impacting sales Favourable Leading demographics p
Slide 59: Hong Kong: Intact demand drivers for Chinese Mainland customers
Hong Kong: Intact demand drivers for Chinese Mainland customers Majority of MCH visitors prefer MCH visitors’ reasons Financial products likely to to wait until border opens to to visit HK (Next 12 months) acquire in HK (Next 12 months) purchase insurance in HK Managing personal Healthcare Any insur
Slide 60: Hong Kong: Intact demand drivers for Chinese Mainland customers
Hong Kong: Intact demand drivers for Chinese Mainland customers MCH visitors’ intention for MCH visitors’ preference for MCH visitors’ preference for financial products medical treatment medical treatment Any insurance CI Medical & Minor illness, % Critical illness, % products1, % insurance, % hospi
Slide 61: CFO appendix
CFO appendix
Slide 62: Diversification and growth
Diversification and growth Financial performance by segment CPL3 Growth New Business Adjusted IFRS EEV SHF Long- mkts $m Profit Operating Profit term business1 New Business Profit, HY22 HK HY22 %YoY2 HY22 %YoY2 30-Jun-22 Sing. Indo. Malaysia CPL3 217 (4) 149 7 3,302 3 Hong Kong 211 (31) 501 10 17,24
Slide 63: Diversified and resilient segment NBP performance
Diversified and resilient segment NBP performance Diversified Mix & economic effects Resilient APE, HY22 $m, % Growth YoY (CER1) NBP margin vs APE HY22 vs HY211 NBP, $m, % Growth YoY (CER1) 43% CPL2 507 13% CPL 2 51% CPL2 217 (4)% 93% HK 227 (10)% HK 121% HK 211 (31)% Indo. 47% Indo. 110 (5)% Indo.
Slide 64: 14% NBP CAGR ex HK despite disruption
14% NBP CAGR NBP, HY18-HY22 $bn CER1 ex HK despite disruption 1.5 14% CAGR Ex HK, HY18-22 1.1 Material growth 1.0 0.2 in franchise with capacity for MCH 0.6 9% sales maintained 0.4 CAGR HY18-22 0.3 29% 0.1 HY18 HY19 HY20 HY21 HY22 Growth Markets Others HK Column1 64 1. Constant exchange rate basis.
Slide 65: Eastspring: Positive net inflows in challenging environment
Eastspring: Positive net inflows in challenging environment Eastspring: Movement in FUM HY22, $bn 4.5 (0.7) (1.8) (0.0) (38.2) Net flows: +$2.7bn 258.5 Average FUM +1% vs HY21 (CER) 256.7 Fee margin 28bps (HY21: 30bps) 222.3 222.3 FUM 31 Dec 21 External Retail net External Internal net flow UK life
Slide 66: Asset portfolio
Asset portfolio Breakdown of invested assets1 Shareholder debt portfolio at 30 Jun 2022 $bn at 30 Jun 2022 Shareholder- Holding by issuer Par funds Unit linked Total backed 2 Portfolio No. Av. Max <BBB-6 $bn Issuers5 $m $m Debt 49.6 5.1 24.4 79.1 Direct equites 11.3 11.3 2.2 24.8 Sovereign debt 11.9
Slide 67: Shareholder-backed debt exposures
Shareholder-backed debt exposures By geography1 By credit rating1,2 at 30 Jun 2022 at 30 Jun 2022 Sovereign debt Other government bonds Corporate bonds 3% By market: 15% 3% 12% Rating: 14% 27% 39% United States AAA Thailand AA 47% Vietnam 35% A 10% 28% Other 36% BBB 24% <BBB- 7% Total $11.9bn Total
Slide 68: Shareholder-backed debt exposures
Shareholder-backed debt exposures By asset type1 By sector1,2 at 30 Jun 2022 at 30 Jun 2022 Corporate debt exposures ABS 1% Basic Technology Materials Government Corporate 3% 1% 3% Bonds 47% Real Estate Sovereign 6% 49% Consumer, Cyclical Financial 6% 33% Industrial 7% Energy 10% Other Public Quasi
Slide 69: History of materially positive operating and economic variances
History of materially positive operating and economic variances Operating experience & assumption changes1 Economic experience2 as % of opening EV as % of opening EV 2011 1.14% 2011 1.2% 2012 1.10% 2012 2.4% 2013 0.86% 2013 -0.5% 2014 0.87% 2014 1.7% 2015 0.66% 2015 -2.8% 2016 1.20% 2016 -0.2% 2017
Slide 70: Free surplus represents shareholder capital available for investment
Free surplus represents shareholder capital available for investment Free surplus less impacted by recent Reconciliation of EEV free surplus to regulatory changes than GWS1 GWS1 surplus GWS/LCSM shareholder & EEV free surplus, 2019-HY22 $bn On a GPCR basis 30 June 2022, $bn GWS surplus2 16.2 0.1 1.9
Slide 71: Building high quality, growing capital generation
Building high quality, growing capital generation Highly predictable in-force capital generation Expected free surplus generation from in-force business by year, 2022-2061, 31 December 2021, $bn $2.3bn $2.0bn $1.8bn $1.7bn $1.7bn $1.6bn $1.4bn $1.2bn Excludes future new business $66.4bn Undiscounted
Slide 72: Disciplined capital allocation
Disciplined Reinvesting Asia capital generation to drive growth Capital allocation Asia Free surplus1 sources and uses, FY12-HY22 $bn (5.9) $6bn invested 20.6 (10.6) 8.6 new business 16.3 2.9 Central Total (0.0) Group $5bn invested in 5.7 5.7 Asia 1.6 inorganic Asia Free Surplus 31 Dec 2011 Asia in-
Slide 73: Strong central liquidity
Strong central liquidity Group holding company cash flow HY22, $bn (1.7) 1.0 (0.2) 0.1 (0.3) 3.6 (0.2) 2.6 2.3 2.1 2.1 1.8 31-Dec-21 Debt Pro forma Net cash Central & Dividend paid Central banca Other corporate 30-Jun-22 redemption Jan remitted interest costs fees activities, FX '22 • $2.1bn central
Slide 74: Impact of regulatory changes measured as at 1 January 2022
Impact of regulatory changes measured as at 1 January 2022 Impact of Hong Kong 1 January 2022, $bn RBC and C-ROSS II1 GWS2 GWS shareholder capital surplus over GMCR +9.3 Increase in capital resources as prudence removed from liabilities and capital requirements increase as a result of risk-based app
Slide 75: Impact of regulatory change on GWS position December 2021
Impact of regulatory change on GWS position 31 December 20211 Impact of regulatory change on GWS position, GMCR basis, $bn1,2,3 Reconciliation of Group shareholder GWS position for impact of regulatory change, 31 December 2021 Capital resources Required capital Cover ratio: 408% +137%p 545% 10.3 9.3
Slide 76: Resilient regulatory GWS capital generation
Resilient regulatory GWS1 capital generation Cover ratio: 320% 17%p (8)%p 2%p (5)%p (5)%p (4)%p 317% 0.1 1.4 (0.3) (0.4) (1.8) (0.3) 17.5 16.2 GWS surplus In-force profit New business Eastspring Central costs Non-operating & Dividend paid GWS surplus 31 Dec 2021 investment other capital 30 Jun 2022
Slide 77: Balanced call date/maturity profile supports financial flexibility
Balanced call date/maturity profile supports financial flexibility Prudential plc: Core structural borrowings1 30 June 2022 Next call / Maturity Schedule US$m 2.95% 3.125% 1,000 4.875% 6.125% 500 6.875% 5.875% 3.625% 0 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 Senior Subordinated Maturi
Slide 78: Transfer of Prudential shares between UK and HK share registers
Transfer of Prudential shares between UK and HK share registers • Prudential has a UK and HK share register. Shareholders can transfer Prudential shares from one register to the other, ‘shunting’ • This can be processed in 4 business days, 2 in the UK plus 2 in HK, subject to fees London Hong Kong H