Slide 1: Business update for 2020 AGM
Prudential plc Business update for 2020 AGM 14 May 2020 1
Slide 2: Forward-looking statements
This document may contain ‘forward-looking statements’ with respect to certain of Prudential's plans and its goals and expectations relating to its future financial condition, performance, results, strategy and objectives. Statements that are not historical facts, including statements about Prudenti
Slide 3: Group Highlights
Business update for 2020 AGM - Group Highlights • Accelerated innovation to meet consumer needs • Strong financial performance in volatile and uncertain environment • Asia in-force resilient with IFRS operating profit up +14% • Conservatively positioned balance sheet; solvency resilient 3
Slide 4: Accelerated innovation to meet consumer needs
Business update for 2020 AGM - Group Accelerated innovation to meet consumer needs ‘Pulse by Prudential’ app downloaded on 4m devices1 1.2m policies sold through digital ecosystem, majority of which were to new customers2 Products equivalent to c. 2/3 of APE can now be sold virtually3 Recruitment, s
Slide 5: Asia: High quality, diverse portfolio underpins resilient performance
Business update for 2020 AGM - Asia High quality, diverse portfolio underpins resilient performance APE sales, $m New business profit IFRS operating profit 1,292 (33)% 14% Asia ex HK 986 (24)% 539 & China 544 +1% HK & China 753 442 (41)% 1Q19 1Q20 1Q19 1Q20 1Q19 1Q20 (CER) (CER) (CER) • Outside HK &
Slide 6: Accelerating digital buildout - Asia
Accelerating digital buildout - Asia Attractive services in current environment Pulse: First-of-its-kind, all-in-one & AI-powered app Pulse: Access & adoption Dual • 4m installs1, up from 1.3m reported at FY19 Hospital results in March 2020 Language Navigator Options • 19 new digital partnerships se
Slide 7: US: New business sales and IFRS operating profit
Business update for 2020 AGM - US New business sales and IFRS operating profit Premiums, $bn QoQ (%) IFRS operating profit 6.3 +19% (52)% 5.3 1.3 n/a 5.1 GICs 1.2 1.6 1.0 (36)% FAs & FIAs 0.4 3.7 4.0 +9% VAs 3.5 1Q19 4Q19 1Q20 1Q19 1Q20 • QoQ decline in FAs and FIAs reflecting material • Unfavourabl
Slide 8: US 1Q2020 update: RBC statutory solvency position
US 1Q2020 update RBC statutory solvency position Jackson Statutory RBC ratio • Operational capital generation remains in line with our expectations • Non-operating experience includes: – Increase in TAC reflecting positive hedge gains & 31 Dec 2019 366% favourable changes in US corporate tax – Highe
Slide 9: Group solvency: Robust LCSM capital position
Group solvency Robust LCSM capital position Estimated Group shareholder LCSM capital position, $bn 1Q2020 movement in LCSM capital position Surplus: $9.5bn $11.1bn • $0.5bn of operating capital generation (net of new business strain) Cover: 309% 302% • Non-operating movements includes: – $2.2bn bene
Slide 10: Group credit exposures
Group credit exposures Jackson1 shareholder exposure – local statutory basis By credit rating2,3, 31 Mar 2020 By asset type3, 31 Mar 2020 By sector3,4, 31 Mar 2020 Total debt Total debt Corporate debt Technology Quasi Sovereign Other Public Sector Bonds Basic Materials 4% <BBB- Other Bonds 1% 4% 1%