2025 Full Year Fact Sheet
For every life, we are partners. For every future, we are protectors.Our mission is to be the most trusted partner and protector for this generation and generations to come, by providing simple and accessible financial and health solutions.
2025 Financial highlights
Delivered consistent double-digit growth and increased shareholder returns
New business profit (NBP)
$2.8bn +12%Adjusted operating profit after tax (OPAT)
$2.8bn +12%per share
Gross operating free surplus generation (OFSG)
$3.1bn +15%Dividends
$0.7bn +15%per share3
Growing ordinary dividends
'+15% Dividend per share3
>10% p.a. Growth in DPS (2025-27)3
Recurring capital returns
$500m in 2026 $600m in 20272Additional return of capital in excess of 200% free surplus ratio1
$700m in 2026 $700m in 20272Expected capital returns to shareholders
>$7bn
between 2024-2027
Note: Growth rates are compared to prior year and on a constant rate basis, unless otherwise stated. Our Group dividend policy, which remains unchanged, is to grow dividends broadly in line with the Group's net operating free surplus generation after allowing for new business, investment, central costs and investment in capabilities. In addition to the ordinary dividend, the Board will now consider making additional recurring returns of capital out of the annual flow of capital generation. Capital returns will be set taking into account the Group's financial condition and prospects, applicable capital and solvency requirements, investment opportunities, market conditions and the general economic environment.
We seek to operate with a free surplus ratio of between 175 per cent and 200 per cent. If the free surplus ratio is above the operating range over the medium term, and taking into account opportunities to reinvest at appropriate returns and allowing for market conditions, capital will be returned to shareholders.
Subject to Hong Kong Insurance Authority approval.
On actual exchange rate basis.
A trusted partner for millions
Our life and health insurance and asset management solutions serve over 17 million customers across 20 markets in Asia and Africa. We are headquartered in Hong Kong and have dual primary listings on the Stock Exchange of Hong Kong (2378) and the London Stock Exchange (PRU).
⬤ Our markets
⬤ Life insurance - offering a range of products including health and protection
⬤ Asset management
Mainland
z' China
Japan
Indio
Myanmar
Laos
Thailand
Macau
Hong Kong
Toiwon
Nigeria
Cambodia Vietnom
Malaysia
Singapore
Indonesia
Philippines
Uganda
Kenya .''
Organisational model replicating successes at pace and scale Multi-market growth engines
Greater China ASEAN India Africa
Technology-powered distribution
Transforming health business model
Enhancing customer experiences
Group-wide enablers
Open-architecture technology platform
Engaged people & high-performance culture
Wealth and investment capabilities
Value creation for all stakeholders
Customers Employees Shareholders Communities
Underpinned by the three pillars of our sustainability strategy
Simple and accessible health and financial protection • Responsible investment • Sustainable business
Managing our risks
Thoughtful risk management through advocating the interests of our people, customers, regulators and shareholders
Scale franchise in Asia and Africa:
Well positioned to access growth opportunities in our markets
1. 2. 3. 4.
Leading positions across high growth markets in Asia and Africa
Trusted household brand with nearly 180-year heritage
Balanced and scaled distribution channels
Integration of life insurance and asset management
capabilities
Top three positions in nine life markets
Second largest number of MDRT agents globally
#1 independent life bancassurer in Asia
Total $278bn funds under management by Eastspring
Driving Value creation through focus on execution:
Agency Bancassurance Health Customer
Focus on activation and productivity
Deepening penetration and increasing mix of health and protection
Focus on quality health and protection business
Focus on driving acquisition and loyalty
Improving technology capabilities and operational effectiveness
Delivering high quality, consistent growth and driving shareholder returns:
Growth Capital Consistency Confidence
Delivered >10% growth in 2025 across our key metrics1
Implementing additional
$1.2bn buyback in 2026. Expected $1.3bn capital return in 20273. >$7bn expected capital returns to shareholders in 2024-274
2026 guidance of double-digit growth across our key metrics1
On track to deliver 2027 financial objectives2
Our key metrics are: new business profit, basic earnings per share based on adjusted operating profit and operating free surplus generated from in-force insurance and asset management business, and dividend per share.
Growing NBP at 15-20% CAGR between 2022 and 2027 and achieving Gross OFSG of at least $4.4bn in 2027. The objectives assume exchange rates at December 2022 and are based on regulatory and solvency regimes applicable across the Group at the time the objectives were set. The objectives assume that the same TEV and free surplus methodology will be applicable over the period and no material change to the economic assumptions will occur.
Subject to Hong Kong Insurance Authority approval.
Capital returns will be set taking into account the Group's financial condition and prospects, applicable capital and solvency requirements, investment opportunities, market conditions and the general economic environment.
Prudential plc 2025 Full Year Fact sheet