Business
Prudential Plc - Q1 2026 Performance Update
Prudential PLC reported a strong first quarter of 2026, with new business profit increasing by 10% to $686 million on a constant exchange rate basis, driven by growth across all segments. Annual premium equivalent (APE) sales rose 6% to $1,823 million, and the new business margin improved by 2 percentage points. The company highlighted resilient performance across its multi-channel, multi-market business model despite market volatility, with continued strong growth in bancassurance and progress in its agency transformation program. Prudential remains confident in achieving double-digit growth for key financial metrics in 2026 and its 2027 financial objectives. The company also repurchased approximately 20 million shares for $312 million in the first quarter as part of its $1.2 billion buyback program for 2026. Disclaimer*
About this update from Prudential Plc
NEWS RELEASE 29 April 2026 PRUDENTIAL PLC Q1 2026 BUSINESS PERFORMANCE UPDATE Another quarter of consistent double‑digit new business profit growth Performance highlights on a constant exchange rate basis for the three months ended 31 March 2026 (Q1): · Q1 new business profit was up 10 per cent compared with the prior year to $686 million with growth across all segments. · Q1 APE sales grew 6 per cent to $1,823 million over the same period. · New business margin increased 2 percentage points. Commenting on the results, CEO Anil Wadhwani said: "In the first three months of 2026, we once again demonstrated our continued delivery of double‑digit new business profit growth. Performance was broad‑based across segments, with higher APE sales and improved new business margins, reflecting our disciplined execution and continued focus on driving high-quality growth. "The quarter reinforced the strength of our multi-channel, multi-market business model, with resilient performance despite ongoing market volatility and geopolitical uncertainty. Similar to the outcome in full‑year 2025, bancassurance delivered strong year‑on‑year growth in both volumes and margins, with continued traction across key markets. We continue to progress our agency transformation programme with a focus on quality recruitment and actions to improve agent productivity, including the rollout of enhanced digital tools. The agency channel continued to grow new business profit in the first quarter. "Through disciplined value creation, continued strengthening of our distribution and a focus on enhancing customer experience we are well positioned to capture structural growth opportunities across Asia and Africa. We remain confident in delivering double‑digit growth across our key financial metrics in 2026 and achieving our 2027 financial objectives." APE new business sales (APE sales) and TEV new business profit (NBP) Three months ended 31 March 2026 2025 CER Change CER 2025 AER Change AER NBP $m 686 625 10% 608 13% APE Sales $m 1,823 1,725 6% 1,677 9% NBP margin 38% 36% 2 ppts 36% 2 ppts Comparatives on a constant exchange rate basis (CER) and actual exchange rate basis (AER). Market highlights for the thr...