Prudential plc (PRU) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon and good morning. It's Patrick Bow speaking. Welcome to Prudential's 2024 Results Analyst and Investor Call. Before I turn the call over to Anil, our CEO, and Ben, our CFO, a couple of housekeeping points. A recording of the call will be available from Tuesday next week. As usual, our full results package is available on our website. Anil and Ben will start the call with some opening remarks before we then go to Q&A. As you will understand, we're under restrictions as to what we can say about the evaluation of the potential listing of ICICI Prudential Asset Management Company. So please bear with us until we can update you with more information. Please note that we're also holding an additional meeting for sell-side analysts next week. This will be an ideal opportunity to raise further technical questions you may have, for example, on TV. Today, we also have the leadership team responsible for our businesses with us, namely Angel, Dennis, Solmaz, and Bill. So we would encourage you to focus on business questions for this call. With that, let me pass over to Anil, our CEO, to start us off. Anil. Thank you, Patrick. Good morning, good afternoon, and good evening, everyone. Thank you for joining us today. I'm delighted to present our full year 2024 results and provide an update, as promised, 18 months into the execution of our current strategy. 2024 was a year of good progress. New business profit grew 11% in line with our 2024 guidance to $3.1 billion. We generated $2.6 billion of gross operating fee surplus generation as expected. And adjusted operating profit after tax was up 8% per share. We are laser focused and driving consistent growth by writing quality new business more effectively managing our enforceable and improving our variances. We have con...