3rd Quarter Results Part 2
Prudential PLC
19 October 2006
Schedule 4
PRUDENTIAL PLC - NEW BUSINESS - QUARTER 3 2006 VERSUS QUARTER 2 2006
INSURANCE OPERATIONS
Single Regular Total Annual Equivalents (3)
Q3 2006 Q2 2006 +/-(%) Q3 2006 Q2 2006 +/-(%) Q3 2006 Q2 2006 +/-(%) Q3 2006 Q2 2006 +/-(%)
£m £m £m £m £m £m £m £m
UK Insurance Operations
Direct to Customer
Individual Pensions 2 4 (50%) 1 2 (50%) 3 6 (50%) 1 2 (50%)
Life - With Profit Bond 6 7 (14%) - - - 6 7 (14%) 1 1 0%
Life - Other 4 5 (20%) - - - 4 5 (20%) - 1 -
Individual Annuities 199 247 (19%) - - - 199 247 (19%) 20 25 (20%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total 211 263 (20%) 1 2 (50%) 212 265 (20%) 22 28 (21%)
DWP Rebates - - - - - - - - - - - -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total 211 263 (20%) 1 2 (50%) 212 265 (20%) 22 28 (21%)
Business to Business
Corporate Pensions 32 59 (46%) 43 48 (10%) 75 107 (30%) 46 54 (15%)
Individual Annuities 71 58 22% - - - 71 58 22% 7 6 17%
Bulk Annuities 22 22 0% - - - 22 22 0% 2 2 0%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total 125 139 (10%) 43 48 (10%) 168 187 (10%) 56 62 (10%)
Intermediated
Distribution
Individual Pensions 11 27 (59%) 5 5 0% 16 32 (50%) 6 8 (25%)
Corporate Pensions 9 12 (25%) 1 1 0% 10 13 (23%) 2 2 0%
Life - With Profit Bond 50 48 4% - - - 50 48 4% 5 5 0%
Life - Other Bond 128 218 (41%) - - - 128 218 (41%) 13 22 (41%)
Life - Other 19 15 27% 1 1 0% 20 16 25% 3 3 0%
Individual Annuities 192 169 14% - - - 192 169 14% 19 17 12%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total 409 489 (16%) 7 7 0% 416 496 (16%) 48 56 (14%)
Partnerships
Individual Pensions - - - - - - - - - - - -
Life - With Profit Bond 5 2 150% - - - 5 2 150% 1 - -
Life - Other Bond 25 33 (24%) - - - 25 33 (24%) 3 3 0%
Life - Other 180 159 13% 1 1 0% 181 160 13% 19 17 12%
Individual Annuities 280 172 63% - - - 280 172 63% 28 17 65%
Bulk Annuities - - 592 - - - - - 592 - - 59 -
Reinsurance from Scott
Am Insurance Fund
Bulk Annuities - - - - - - - - - - - -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total 490 958 (49%) 1 1 0% 491 959 (49%) 50 97 (48%)
Total:
Individual Pensions 13 31 (58%) 6 7 (14%) 19 38 (50%) 7 10 (30%)
Corporate Pensions 41 71 (42%) 44 49 (10%) 85 120 (29%) 48 56 (14%)
Life - With Profit Bond 61 57 7% - - - 61 57 7% 6 6 0%
Life - Other Bond 153 251 (39%) - - - 153 251 (39%) 15 25 (40%)
Life - Other 203 179 13% 2 2 0% 205 181 13% 22 20 10%
Individual Annuities 742 646 15% - - - 742 646 15% 74 65 14%
Bulk Annuities 22 614 (96%) - - - 22 614 (96%) 2 61 (97%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total 1,235 1,849 (33%) 52 58 (10%) 1,287 1,907 (33%) 176 243 (28%)
DWP Rebates - - - - - - - - - - - -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 1,235 1,849 (33%) 52 58 (10%) 1,287 1,907 (33%) 176 243 (28%)
Operations
European Insurance
Operations
Insurance Products 33 29 14% - - - 33 29 14% 3 3 0%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total European 33 29 14% - - - 33 29 14% 3 3 0%
Insurance Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK and Europe 1,268 1,878 (32%) 52 58 (10%) 1,320 1,936 (32%) 179 246 (27%)
Insurance Operations
US Insurance Operations
(8)
Fixed Annuities 204 164 24% - - - 204 164 24% 20 16 25%
Fixed Index Annuities 144 160 (10%) - - - 144 160 (10%) 14 16 (13%)
Variable Annuities 922 993 (7%) - - - 922 993 (7%) 92 99 (7%)
Life 2 2 0% 4 5 (20%) 6 7 (14%) 4 5 (20%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total Retail 1,272 1,319 (4%) 4 5 (20%) 1,276 1,324 (4%) 131 137 (4%)
Guaranteed Investment 15 37 (59%) - - - 15 37 (59%) 2 4 (50%)
Contracts
GIC - Medium Term Note 105 164 (36%) - - - 105 164 (36%) 11 16 (31%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total US Insurance 1,392 1,520 (8%) 4 5 (20%) 1,396 1,525 (8%) 143 157 (9%)
Operations
Asian Insurance
Operations (8)
China 5 6 (17%) 8 8 0% 13 14 (7%) 9 9 0%
Hong Kong 85 73 16% 26 22 18% 111 95 17% 35 29 21%
India (@26%) (6) 3 3 0% 22 23 (4%) 25 26 (4%) 22 23 (4%)
Indonesia 6 7 (14%) 18 17 6% 24 24 0% 19 18 6%
Japan 19 12 58% 2 1 100% 21 13 62% 4 2 100%
Korea 18 28 (36%) 52 51 2% 70 79 (11%) 54 54 0%
Malaysia 1 1 0% 18 16 13% 19 17 12% 18 16 13%
Singapore 65 118 (45%) 18 15 20% 83 133 (38%) 25 27 (7%)
Taiwan 11 16 (31%) 32 32 0% 43 48 (10%) 33 34 (3%)
Other (4) 3 3 0% 8 9 (11%) 11 12 (8%) 8 9 (11%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Asian Insurance 216 267 (19%) 204 194 5% 420 461 (9%) 226 221 2%
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Group Total 2,876 3,665 (22%) 260 257 1% 3,136 3,922 (20%) 548 624 (12%)
INVESTMENT OPERATIONS
M&G (5) Asia Retail Mutual Asia Third Party Total Investment
Funds Products
Q3 2006 Q2 2006 +/-(%) Q3 2006 Q2 2006 +/-(%) Q3 2006 Q2 2006 +/-(%) Q3 2006 Q2 2006 +/-(%)
£m £m £m £m £m £m
Opening FUM 40,135 39,669 1% 10,262 10,172 1% 673 732 (8%) 51,070 50,573 1%
Gross Inflows 3,186 3,880 (18%) 4,596 5,618 (18%) 72 3 2,300% 7,854 9,501 (17%)
Less Redemptions (1,671) (2,030) 18% (4,790) (4,416) (8%) (29) (4) (625%) (6,490) (6,450) (1%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Net Flows 1,515 1,850 (18%) (194) 1,202 (116%) 43 (1) 4,400% 1,364 3,051 (55%)
Other Movements 104 (8) 1,400% (41) (144) 72% - - - 63 (152) 141%
Market And Currency 504 (1,376) 137% 369 (968) 138% 42 (58) 172% 915 (2,402) 138%
Movements
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Net Movements in FUM 2,123 466 356% 134 90 49% 85 (59) 244% 2,342 497 371%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Closing FUM 42,258 40,135 5% 10,396 10,262 1% 758 673 13% 53,412 51,070 5%
Schedule 5 - Constant Exchange Rates
PRUDENTIAL PLC - NEW BUSINESS - NINE MONTHS 2006
TOTAL INSURANCE AND INVESTMENT NEW BUSINESS
UK & Europe US (1a) Asia Total
(1a)
2006 Q3 2005 Q3 2006 Q3 2005 Q3 2006 Q3 2005 Q3 2006 Q3 2005 Q3
YTD YTD +/-(%) YTD YTD +/-(%) YTD YTD +/-(%) YTD YTD +/-(%)
£m £m £m £m £m £m £m £m
Total Insurance 5,303 5,768 (8%) 4,548 3,971 15% 1,334 1,061 26% 11,185 10,800 4%
Products
Total Investment 9,981 5,600 78% - - - 14,694 14,253 3% 24,675 19,853 24%
Products - Gross
Inflows (2)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Group Total 15,284 11,368 34% 4,548 3,971 15% 16,028 15,314 5% 35,860 30,653 17%
INSURANCE OPERATIONS
Single Regular Total PVNBP (3)
2006 Q3 2005 Q3 2006 Q3 2005 Q3 2006 Q3 2005 Q3 2006 Q3 2005 Q3
YTD YTD +/-(%) YTD YTD +/-(%) YTD YTD +/-(%) YTD YTD +/-(%)
£m £m £m £m £m £m £m £m
UK Insurance
Operations
Direct to Customer
Individual Pensions 10 10 0% 6 6 0% 16 16 0% 33 33 0%
Life - With Profit 16 10 60% 1 1 0% 17 11 55% 20 11 82%
Bond
Life - Other 13 - - 1 1 0% 14 1 1,300% 17 4 325%
Individual Annuities 611 543 13% - - - 611 543 13% 611 543 13%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total 650 563 15% 8 8 0% 658 571 15% 681 591 15%
DWP Rebates 161 234 (31%) - - - 161 234 (31%) 161 234 (31%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total 811 797 2% 8 8 0% 819 805 2% 842 825 2%
Business to Business
Corporate Pensions 210 160 31% 117 92 27% 327 252 30% 661 536 23%
Individual Annuities 173 151 15% - - - 173 151 15% 173 151 15%
Bulk Annuities 46 413 (89%) - - - 46 413 (89%) 46 413 (89%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total 429 724 (41%) 117 92 27% 546 816 (33%) 880 1,100 (20%)
Intermediated
Distribution
Individual Pensions 67 50 34% 14 14 0% 81 64 27% 124 101 23%
Corporate Pensions 31 32 (3%) 3 6 (50%) 34 38 (11%) 45 52 (13%)
Life - With Profit 142 119 19% - - - 142 119 19% 142 120 18%
Bond
Life - Other Bond 568 682 (17%) - - - 568 682 (17%) 568 682 (17%)
Life - Other 38 4 850% 4 5 (20%) 42 9 367% 62 30 107%
Individual Annuities 550 786 (30%) - - - 550 786 (30%) 550 786 (30%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total 1,396 1,673 (17%) 21 25 (16%) 1,417 1,698 (17%) 1,491 1,771 (16%)
Partnerships
Individual Pensions 1 - - - - - 1 - - 2 - -
Life - With Profit 10 - - - - - 10 - - 10 - -
Bond
Life - Other Bond 101 - - - - - 101 - - 101 - -
Life - Other 496 628 (21%) 2 3 (33%) 498 631 (21%) 507 641 (21%)
Individual Annuities 543 145 274% - - - 543 145 274% 543 145 274%
Bulk Annuities - 592 - - - - - 592 - - 592 - -
Reinsurance from Scott
Am Insurance Fund
Bulk Annuities 662 1,519 (56%) - - - 662 1,519 (56%) 662 1,519 (56%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total 2,405 2,292 5% 2 3 (33%) 2,407 2,295 5% 2,417 2,305 5%
Total:
Individual Pensions 78 60 30% 20 20 0% 98 80 23% 159 134 19%
Corporate Pensions 241 192 26% 120 98 22% 361 290 24% 706 588 20%
Life - With Profit 168 129 30% 1 1 0% 169 130 30% 172 131 31%
Bond
Life - Other Bond 669 682 (2%) - - - 669 682 (2%) 669 682 (2%)
Life - Other 547 632 (13%) 7 9 (22%) 554 641 (14%) 586 675 (13%)
Individual Annuities 1,877 1,625 16% - - - 1,877 1,625 16% 1,877 1,625 16%
Bulk Annuities 1,300 1,932 (33%) - - - 1,300 1,932 (33%) 1,300 1,932 (33%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total 4,880 5,252 (7%) 148 128 16% 5,028 5,380 (7%) 5,469 5,767 (5%)
DWP Rebates 161 234 (31%) - - - 161 234 (31%) 161 234 (31%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 5,041 5,486 (8%) 148 128 16% 5,189 5,614 (8%) 5,630 6,001 (6%)
Operations
European Insurance Operations
(1a)
Insurance Products 114 154 (26%) - - - 114 154 (26%) 114 153 (25%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total European 114 154 (26%) - - - 114 154 (26%) 114 153 (25%)
Insurance Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK & Europe 5,155 5,640 (9%) 148 128 16% 5,303 5,768 (8%) 5,744 6,154 (7%)
Insurance Operations
US Insurance
Operations (1a)
Fixed Annuities 516 647 (20%) - - - 516 647 (20%) 516 647 (20%)
Fixed Index Annuities 437 467 (6%) - - - 437 467 (6%) 437 467 (6%)
Variable Annuities 2,809 1,895 48% - - - 2,809 1,895 48% 2,809 1,896 48%
Life 6 8 (25%) 13 10 30% 19 18 6% 104 101 3%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total Retail 3,768 3,017 25% 13 10 30% 3,781 3,027 25% 3,866 3,111 24%
Guaranteed Investment 325 310 5% - - - 325 310 5% 325 310 5%
Contracts
GIC - Medium Term Note 442 634 (30%) - - - 442 634 (30%) 442 634 (30%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total US Insurance 4,535 3,961 14% 13 10 30% 4,548 3,971 15% 4,633 4,055 14%
Operations
Asian Insurance
Operations (1a)
China 22 10 120% 21 16 31% 43 26 65% 138 99 39%
Hong Kong 224 205 9% 68 56 21% 292 261 12% 609 491 24%
India (@26%) (6) 14 2 600% 77 40 93% 91 42 117% 263 153 72%
Indonesia 17 38 (55%) 49 31 58% 66 69 (4%) 183 155 18%
Japan 41 18 128% 3 3 0% 44 21 110% 55 35 57%
Korea 76 13 485% 155 97 60% 231 110 110% 730 437 67%
Malaysia 3 8 (63%) 48 47 2% 51 55 (7%) 282 272 4%
Singapore 271 203 33% 47 40 18% 318 243 31% 566 493 15%
Taiwan 58 94 (38%) 106 108 (2%) 164 202 (19%) 600 661 (9%)
Other (4) 9 7 29% 25 25 0% 34 32 6% 99 97 2%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Asian Insurance 735 598 23% 599 463 29% 1,334 1,061 26% 3,525 2,893 22%
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Group Total 10,425 10,199 2% 760 601 26% 11,185 10,800 4% 13,902 13,102 6%
Schedule 6 - Actual Exchange Rates
PRUDENTIAL PLC - NEW BUSINESS - NINE MONTHS 2006
TOTAL INSURANCE AND INVESTMENT NEW BUSINESS
UK & Europe US (1b) Asia (1b) Total
2006 Q3 2005 Q3 2006 Q3 2005 Q3 2006 Q3 2005 Q3 2006 Q3 2005 Q3
YTD YTD +/-(%) YTD YTD +/-(%) YTD YTD +/-(%) YTD YTD +/-(%)
£m £m £m £m £m £m £m £m
Total Insurance 5,303 5,768 (8%) 4,548 3,919 16% 1,334 1,033 29% 11,185 10,720 4%
Products
Total Investment 9,981 5,600 78% - - - 14,694 14,378 2% 24,675 19,978 24%
Products - Gross
Inflows (2)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Group Total 15,284 11,368 34% 4,548 3,919 16% 16,028 15,411 4% 35,860 30,698 17%
INSURANCE OPERATIONS
Single Regular Total PVNBP (3)
2006 Q3 2005 Q3 2006 Q3 2005 Q3 2006 Q3 2005 Q3 2006 Q3 2005 Q3
YTD YTD +/-(%) YTD YTD +/-(%) YTD YTD +/-(%) YTD YTD +/-(%)
£m £m £m £m £m £m £m £m
UK Insurance Operations
Direct to Customer
Individual Pensions 10 10 0% 6 6 0% 16 16 0% 33 33 0%
Life - With Profit Bond 16 10 60% 1 1 0% 17 11 55% 20 11 82%
Life - Other 13 - - 1 1 0% 14 1 1,300% 17 4 325%
Individual Annuities 611 543 13% - - - 611 543 13% 611 543 13%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total 650 563 15% 8 8 0% 658 571 15% 681 591 15%
DWP Rebates 161 234 (31%) - - - 161 234 (31%) 161 234 (31%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total 811 797 2% 8 8 0% 819 805 2% 842 825 2%
Business to Business
Corporate Pensions 210 160 31% 117 92 27% 327 252 30% 661 536 23%
Individual Annuities 173 151 15% - - - 173 151 15% 173 151 15%
Bulk Annuities 46 413 (89%) - - - 46 413 (89%) 46 413 (89%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total 429 724 (41%) 117 92 27% 546 816 (33%) 880 1,100 (20%)
Intermediated
Distribution
Individual Pensions 67 50 34% 14 14 0% 81 64 27% 124 101 23%
Corporate Pensions 31 32 (3%) 3 6 (50%) 34 38 (11%) 45 52 (13%)
Life - With Profit Bond 142 119 19% - - - 142 119 19% 142 120 18%
Life - Other Bond 568 682 (17%) - - - 568 682 (17%) 568 682 (17%)
Life - Other 38 4 850% 4 5 (20%) 42 9 367% 62 30 107%
Individual Annuities 550 786 (30%) - - - 550 786 (30%) 550 786 (30%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total 1,396 1,673 (17%) 21 25 (16%) 1,417 1,698 (17%) 1,491 1,771 (16%)
Partnerships
Individual Pensions 1 - - - - - 1 - - 2 - -
Life - With Profit Bond 10 - - - - - 10 - - 10 - -
Life - Other Bond 101 - - - - - 101 - - 101 - -
Life - Other 496 628 (21%) 2 3 (33%) 498 631 (21%) 507 641 (21%)
Individual Annuities 543 145 274% - - - 543 145 274% 543 145 274%
Bulk Annuities - 592 - - - - - 592 - - 592 - -
Reinsurance from Scott
Am Insurance Fund
Bulk Annuities 662 1,519 (56%) - - - 662 1,519 (56%) 662 1,519 (56%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total 2,405 2,292 5% 2 3 (33%) 2,407 2,295 5% 2,417 2,305 5%
Total:
Individual Pensions 78 60 30% 20 20 0% 98 80 23% 159 134 19%
Corporate Pensions 241 192 26% 120 98 22% 361 290 24% 706 588 20%
Life - With Profit Bond 168 129 30% 1 1 0% 169 130 30% 172 131 31%
Life - Other Bond 669 682 (2%) - - - 669 682 (2%) 669 682 (2%)
Life - Other 547 632 (13%) 7 9 (22%) 554 641 (14%) 586 675 (13%)
Individual Annuities 1,877 1,625 16% - - - 1,877 1,625 16% 1,877 1,625 16%
Bulk Annuities 1,300 1,932 (33%) - - - 1,300 1,932 (33%) 1,300 1,932 (33%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total 4,880 5,252 (7%) 148 128 16% 5,028 5,380 (7%) 5,469 5,767 (5%)
DWP Rebates 161 234 (31%) - - - 161 234 (31%) 161 234 (31%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 5,041 5,486 (8%) 148 128 16% 5,189 5,614 (8%) 5,630 6,001 (6%)
Operations
European Insurance Operations
(1b)
Insurance Products 114 154 (26%) - - - 114 154 (26%) 114 154 (26%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total European Insurance 114 154 (26%) - - - 114 154 (26%) 114 154 (26%)
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK & Europe 5,155 5,640 (9%) 148 128 16% 5,303 5,768 (8%) 5,744 6,155 (7%)
Insurance Operations
US Insurance Operations
(1b)
Fixed Annuities 516 639 (19%) - - - 516 639 (19%) 516 639 (19%)
Fixed Index Annuities 437 460 (5%) - - - 437 460 (5%) 437 460 (5%)
Variable Annuities 2,809 1,870 50% - - - 2,809 1,870 50% 2,809 1,870 50%
Life 6 8 (25%) 13 10 30% 19 18 6% 104 99 5%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total Retail 3,768 2,977 27% 13 10 30% 3,781 2,987 27% 3,866 3,068 26%
Guaranteed Investment 325 306 6% - - - 325 306 6% 325 306 6%
Contracts
GIC - Medium Term Note 442 626 (29%) - - - 442 626 (29%) 442 626 (29%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total US Insurance 4,535 3,909 16% 13 10 30% 4,548 3,919 16% 4,633 4,000 16%
Operations
Asian Insurance
Operations (1b)
China 22 10 120% 21 15 40% 43 25 72% 138 95 45%
Hong Kong 224 201 11% 68 55 24% 292 256 14% 609 483 26%
India (@26%) (6) 14 2 600% 77 41 88% 91 43 112% 263 157 68%
Indonesia 17 36 (53%) 49 29 69% 66 65 2% 183 146 25%
Japan 41 19 116% 3 3 0% 44 22 100% 55 37 49%
Korea 76 12 533% 155 90 72% 231 102 126% 730 406 80%
Malaysia 3 8 (63%) 48 45 7% 51 53 (4%) 282 261 8%
Singapore 271 194 40% 47 38 24% 318 232 37% 566 469 21%
Taiwan 58 95 (39%) 106 110 (4%) 164 205 (20%) 600 667 (10%)
Other (4) 9 6 50% 25 24 4% 34 30 13% 99 94 5%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Asian Insurance 735 583 26% 599 450 33% 1,334 1,033 29% 3,525 2,815 25%
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Group Total 10,425 10,132 3% 760 588 29% 11,185 10,720 4% 13,902 12,970 7%
Schedule 7
PRUDENTIAL PLC - NEW BUSINESS - QUARTER 3 2006 VERSUS QUARTER 3 2005
INSURANCE OPERATIONS
Single Regular Total PVNBP (3)
Q3 2006 Q3 2005 +/-(%) Q3 2006 Q3 2005 +/-(%) Q3 2006 Q3 2005 +/-(%) Q3 2006 Q3 2005 +/-(%)
£m £m £m £m £m £m £m £m
UK Insurance Operations
Direct to Customer
Individual Pensions 2 2 0% 1 2 (50%) 3 4 (25%) 8 8 0%
Life - With Profit Bond 6 4 50% - - - 6 4 50% 9 5 80%
Life - Other 4 - - - - - 4 - - 8 2 300%
Individual Annuities 199 178 12% - - - 199 178 12% 199 178 12%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total 211 184 15% 1 2 (50%) 212 186 14% 224 193 16%
DWP Rebates - - - - - - - - - - - -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total 211 184 15% 1 2 (50%) 212 186 14% 224 193 16%
Business to Business
Corporate Pensions 32 46 (30%) 43 25 72% 75 71 6% 209 150 39%
Individual Annuities 71 54 31% - - - 71 54 31% 71 54 31%
Bulk Annuities 22 93 (76%) - - - 22 93 (76%) 22 93 (76%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total 125 193 (35%) 43 25 72% 168 218 (23%) 302 297 2%
Intermediated
Distribution
Individual Pensions 11 11 0% 5 5 0% 16 16 0% 45 26 73%
Corporate Pensions 9 9 0% 1 2 (50%) 10 11 (9%) 23 15 53%
Life - With Profit Bond 50 44 14% - - - 50 44 14% 50 44 14%
Life - Other Bond 128 209 (39%) - - - 128 209 (39%) 128 209 (39%)
Life - Other 19 1 1,800% 1 2 (50%) 20 3 567% 27 12 125%
Individual Annuities 192 228 (16%) - - - 192 228 (16%) 192 228 (16%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total 409 502 (19%) 7 9 (22%) 416 511 (19%) 465 534 (13%)
Partnerships
Individual Pensions - - - - - - - - - 1 - -
Life - With Profit Bond 5 - - - - - 5 - - 5 - -
Life - Other Bond 25 - - - - - 25 - - 25 - -
Life - Other 180 203 (11%) 1 2 (50%) 181 205 (12%) 189 203 (7%)
Individual Annuities 280 52 438% - - - 280 52 438% 280 52 438%
Bulk Annuities - - - - - - - - - - - - -
Reinsurance from Scott
Am Insurance Fund
Bulk Annuities - 44 - - - - - 44 - - 44 -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total 490 299 64% 1 2 (50%) 491 301 63% 500 299 67%
Total:
Individual Pensions 13 13 0% 6 7 (14%) 19 20 (5%) 54 34 59%
Corporate Pensions 41 55 (25%) 44 27 63% 85 82 4% 232 165 41%
Life - With Profit Bond 61 48 27% - - - 61 48 27% 64 49 31%
Life - Other Bond 153 209 (27%) - - - 153 209 (27%) 153 209 (27%)
Life - Other 203 204 (0%) 2 4 (50%) 205 208 (1%) 224 217 3%
Individual Annuities 742 512 45% - - - 742 512 45% 742 512 45%
Bulk Annuities 22 137 (84%) - - - 22 137 (84%) 22 137 (84%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total 1,235 1,178 5% 52 38 37% 1,287 1,216 6% 1,491 1,323 13%
DWP Rebates - - - - - - - - - - - -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 1,235 1,178 5% 52 38 37% 1,287 1,216 6% 1,491 1,323 13%
Operations
European Insurance Operations
Insurance Products 33 34 (3%) - - - 33 34 (3%) 33 34 (3%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total European Insurance 33 34 (3%) - - - 33 34 (3%) 33 34 (3%)
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK and Europe 1,268 1,212 5% 52 38 37% 1,320 1,250 6% 1,524 1,357 12%
Insurance Operations
US Insurance Operations
(8)
Fixed Annuities 204 229 (11%) - - - 204 229 (11%) 204 229 (11%)
Fixed Index Annuities 144 164 (12%) - - - 144 164 (12%) 144 164 (12%)
Variable Annuities 922 686 34% - - - 922 686 34% 922 686 34%
Life 2 2 0% 4 4 0% 6 6 0% 35 44 (20%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total Retail 1,272 1,081 18% 4 4 0% 1,276 1,085 18% 1,305 1,123 16%
Guaranteed Investment 15 119 (87%) - - - 15 119 (87%) 15 119 (87%)
Contracts
GIC - Medium Term Note 105 10 950% - - - 105 10 950% 105 10 950%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total US Insurance 1,392 1,210 15% 4 4 0% 1,396 1,214 15% 1,425 1,252 14%
Operations
Asian Insurance
Operations (8)
China 5 5 0% 8 6 33% 13 11 18% 50 37 35%
Hong Kong 85 54 57% 26 20 30% 111 74 50% 248 178 39%
India (@26%) (6) 3 1 200% 22 14 57% 25 15 67% 86 48 79%
Indonesia 6 8 (25%) 18 12 50% 24 20 20% 66 40 65%
Japan 19 8 138% 2 1 100% 21 9 133% 26 16 63%
Korea 18 2 800% 52 31 68% 70 33 112% 238 119 100%
Malaysia 1 2 (50%) 18 17 6% 19 19 0% 97 102 (5%)
Singapore 65 77 (16%) 18 15 20% 83 92 (10%) 176 192 (8%)
Taiwan 11 23 (52%) 32 55 (42%) 43 78 (45%) 180 320 (44%)
Other (4) 3 3 0% 8 8 0% 11 11 0% 32 28 14%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Asian Insurance 216 183 18% 204 179 14% 420 362 16% 1,199 1,080 11%
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Group Total 2,876 2,605 10% 260 221 18% 3,136 2,826 11% 4,148 3,689 12%
INVESTMENT OPERATIONS
M&G (5) Asia Retail Mutual Asia Third Party Total Investment
Funds Products
Q3 2006 Q3 2005 +/-(%) Q3 2006 Q3 2005 +/-(%) Q3 2006 Q3 2005 +/-(%) Q3 2006 Q3 2005 +/-(%)
£m £m £m £m £m £m
Opening FUM 40,135 31,171 29% 10,262 9,139 12% 673 615 9% 51,070 40,925 25%
Gross Inflows 3,186 2,021 58% 4,596 4,959 (7%) 72 - - 7,854 6,980 13%
Less Redemptions (1,671) (966) (73%) (4,790) (4,562) (5%) (29) - - (6,490) (5,528) (17%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Net Flows 1,515 1,055 44% (194) 397 (149%) 43 - - 1,364 1,452 (6%)
Other Movements 104 (35) 397% (41) (1,161) 96% - - - 63 (1,196) 105%
Market And Currency 504 1,569 (68%) 369 230 60% 42 54 (22%) 915 1,853 (51%)
Movements
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Net Movements in FUM 2,123 2,589 (18%) 134 (534) 125% 85 54 57% 2,342 2,109 11%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Closing FUM 42,258 33,760 25% 10,396 8,605 21% 758 669 13% 53,412 43,034 24%
Schedule 8
PRUDENTIAL PLC - NEW BUSINESS - QUARTER 3 2006 VERSUS QUARTER 2 2006
INSURANCE OPERATIONS
Single Regular Total PVNBP (3)
Q3 2006 Q2 2006 +/-(%) Q3 2006 Q2 2006 +/-(%) Q3 2006 Q2 2006 +/-(%) Q3 2006 Q2 2006 +/-(%)
£m £m £m £m £m £m £m £m
UK Insurance Operations
Direct to Customer
Individual Pensions 2 4 (50%) 1 2 (50%) 3 6 (50%) 8 12 (33%)
Life - With Profit Bond 6 7 (14%) - - - 6 7 (14%) 9 7 29%
Life - Other 4 5 (20%) - - - 4 5 (20%) 8 5 60%
Individual Annuities 199 247 (19%) - - - 199 247 (19%) 199 247 (19%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total 211 263 (20%) 1 2 (50%) 212 265 (20%) 224 271 (17%)
DWP Rebates - - - - - - - - - - - -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total 211 263 (20%) 1 2 (50%) 212 265 (20%) 224 271 (17%)
Business to Business
Corporate Pensions 32 59 (46%) 43 48 (10%) 75 107 (30%) 209 225 (7%)
Individual Annuities 71 58 22% - - - 71 58 22% 71 58 22%
Bulk Annuities 22 22 0% - - - 22 22 0% 22 22 0%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total 125 139 (10%) 43 48 (10%) 168 187 (10%) 302 305 (1%)
Intermediated
Distribution
Individual Pensions 11 27 (59%) 5 5 0% 16 32 (50%) 45 40 13%
Corporate Pensions 9 12 (25%) 1 1 0% 10 13 (23%) 23 13 77%
Life - With Profit Bond 50 48 4% - - - 50 48 4% 50 48 4%
Life - Other Bond 128 218 (41%) - - - 128 218 (41%) 128 218 (41%)
Life - Other 19 15 27% 1 1 0% 20 16 25% 27 22 23%
Individual Annuities 192 169 14% - - - 192 169 14% 192 169 14%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total 409 489 (16%) 7 7 0% 416 496 (16%) 465 510 (9%)
Partnerships
Individual Pensions - - - - - - - - - 1 - -
Life - With Profit Bond 5 2 150% - - - 5 2 150% 5 2 150%
Life - Other Bond 25 33 (24%) - - - 25 33 (24%) 25 33 (24%)
Life - Other 180 159 13% 1 1 0% 181 160 13% 189 158 20%
Individual Annuities 280 172 63% - - - 280 172 63% 280 172 63%
Bulk Annuities - - 592 - - - - - 592 - - 592 -
Reinsurance from Scott
Am Insurance Fund
Bulk Annuities - - - - - - - - - - - -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total 490 958 (49%) 1 1 0% 491 959 (49%) 500 957 (48%)
Total:
Individual Pensions 13 31 (58%) 6 7 (14%) 19 38 (50%) 54 52 4%
Corporate Pensions 41 71 (42%) 44 49 (10%) 85 120 (29%) 232 238 (3%)
Life - With Profit Bond 61 57 7% - - - 61 57 7% 64 57 12%
Life - Other Bond 153 251 (39%) - - - 153 251 (39%) 153 251 (39%)
Life - Other 203 179 13% 2 2 0% 205 181 13% 224 185 21%
Individual Annuities 742 646 15% - - - 742 646 15% 742 646 15%
Bulk Annuities 22 614 (96%) - - - 22 614 (96%) 22 614 (96%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total 1,235 1,849 (33%) 52 58 (10%) 1,287 1,907 (33%) 1,491 2,043 (27%)
DWP Rebates - - - - - - - - - - - -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 1,235 1,849 (33%) 52 58 (10%) 1,287 1,907 (33%) 1,491 2,043 (27%)
Operations
European Insurance
Operations
Insurance Products 33 29 14% - - - 33 29 14% 33 29 14%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total European 33 29 14% - - - 33 29 14% 33 29 14%
Insurance Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK and Europe 1,268 1,878 (32%) 52 58 (10%) 1,320 1,936 (32%) 1,524 2,072 (26%)
Insurance Operations
US Insurance Operations
(8)
Fixed Annuities 204 164 24% - - - 204 164 24% 204 164 24%
Fixed Index Annuities 144 160 (10%) - - - 144 160 (10%) 144 160 (10%)
Variable Annuities 922 993 (7%) - - - 922 993 (7%) 922 993 (7%)
Life 2 2 0% 4 5 (20%) 6 7 (14%) 35 37 (5%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total Retail 1,272 1,319 (4%) 4 5 (20%) 1,276 1,324 (4%) 1,305 1,354 (4%)
Guaranteed Investment 15 37 (59%) - - - 15 37 (59%) 15 37 (59%)
Contracts
GIC - Medium Term Note 105 164 (36%) - - - 105 164 (36%) 105 164 (36%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total US Insurance 1,392 1,520 (8%) 4 5 (20%) 1,396 1,525 (8%) 1,425 1,555 (8%)
Operations
Asian Insurance
Operations (8)
China 5 6 (17%) 8 8 0% 13 14 (7%) 50 46 9%
Hong Kong 85 73 16% 26 22 18% 111 95 17% 248 181 37%
India (@26%) (6) 3 3 0% 22 23 (4%) 25 26 (4%) 86 55 56%
Indonesia 6 7 (14%) 18 17 6% 24 24 0% 66 66 0%
Japan 19 12 58% 2 1 100% 21 13 62% 26 28 (7%)
Korea 18 28 (36%) 52 51 2% 70 79 (11%) 238 252 (6%)
Malaysia 1 1 0% 18 16 13% 19 17 12% 97 99 (2%)
Singapore 65 118 (45%) 18 15 20% 83 133 (38%) 176 191 (8%)
Taiwan 11 16 (31%) 32 32 0% 43 48 (10%) 180 179 1%
Other (4) 3 3 0% 8 9 (11%) 11 12 (8%) 32 31 3%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Asian Insurance 216 267 (19%) 204 194 5% 420 461 (9%) 1,199 1,128 6%
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Group Total 2,876 3,665 (22%) 260 257 1% 3,136 3,922 (20%) 4,148 4,755 (13%)
INVESTMENT OPERATIONS
M&G (5) Asia Retail Mutual Asia Third Party Total Investment
Funds Products
Q3 2006 Q2 2006 +/-(%) Q3 2006 Q2 2006 +/-(%) Q3 2006 Q2 2006 +/-(%) Q3 2006 Q2 2006 +/-(%)
£m £m £m £m £m £m
Opening FUM 40,135 39,669 1% 10,262 10,172 1% 673 732 (8%) 51,070 50,573 1%
Gross Inflows 3,186 3,880 (18%) 4,596 5,618 (18%) 72 3 2,300% 7,854 9,501 (17%)
Less Redemptions (1,671) (2,030) 18% (4,790) (4,416) (8%) (29) (4) (625%) (6,490) (6,450) (1%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Net Flows 1,515 1,850 (18%) (194) 1,202 (116%) 43 (1) 4,400% 1,364 3,051 (55%)
Other Movements 104 (8) 1,400% (41) (144) 72% - - - 63 (152) 141%
Market And Currency 504 (1,376) 137% 369 (968) 138% 42 (58) 172% 915 (2,402) 138%
Movements
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Net Movements in FUM 2,123 466 356% 134 90 49% 85 (59) 244% 2,342 497 371%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Closing FUM 42,258 40,135 5% 10,396 10,262 1% 758 673 13% 53,412 51,070 5%
PRUDENTIAL PLC - NEW BUSINESS SCHEDULES
BASIS OF PREPARATION
The new business schedules are provided as an indicative volume measure of
transactions undertaken in the reporting period that have the potential to
generate profits for shareholders. The amounts shown are not, and not intended
to be, reflective of premium income recorded in the IFRS income statement.
The schedules include a bulk annuity transaction with the Scottish Amicable
Insurance Fund (SAIF). The transaction reflects the arrangement entered into in
June 2006 for the reinsurance of non-profit immediate pension annuity
liabilities of SAIF to Prudential Retirement Income Limited (PRIL), a
shareholder owned subsidiary of the Group. SAIF is a closed ring-fenced sub-fund
of the PAC long-term fund established by a Court approved Scheme of Arrangement
in October 1997, which is solely for the benefit of SAIF policyholders.
Shareholders have no interest in the profits of this fund, although they are
entitled to investment manangement fees on this business. The inclusion of the
transaction between SAIF and PRIL as new business reflects the transfer from
SAIF policyholders to Prudential shareholders' funds of longevity risk, the
requirement to set aside supporting capital, and entitlement to surpluses
arising on this block of business arising from the reinsurance arrangement.
The format of the schedules is consistent with the distinction between insurance
and investment products as applied for previous financial reporting periods.
Products categorised as 'insurance' refer to those classified as contracts of
long-term insurance business for regulatory reporting purposes, i.e. falling
within one of the classes of insurance specified in part II of Schedule 1 to the
Regulated Activities Order under FSA regulations.
The details shown for insurance products include contributions for contracts
that are classified under IFRS 4 'Insurance Contracts' as not containing
significant insurance risk. These products are described as investment contracts
or other financial instruments under IFRS. Contracts included in this category
are primarily certain unit-linked and similar contracts written in UK Insurance
Operations, and Guaranteed Investment Contracts and similar funding agreements
written in US operations.
New business premiums for regular premium products are shown on an annualised
basis. Department of Work and Pensions pension business is classified as single
recurrent business. Internal vesting business is classified as new business
where the contracts include an open market option.
UK and Asian investment products referred to in the tables for funds under
management above are unit trusts, mutual funds and similar types of retail fund
management arrangements. These are unrelated to insurance products that are
classified as investment contract under IFRS 4, as described in the preceding
paragraph, although similar IFRS recognition and measurement principles apply to
the acquisition costs and fees attaching to this type of business.
New Department of Work and Pensions (DWP) rebate business for SAIF is excluded
from the new business schedules. This is because, as noted above, SAIF is solely
for the benefit of SAIF policyholders.
Notes to Schedules 1A - 8
(1a) Insurance and investment new business for overseas operations has been
calculated using constant exchange rates. The applicable rate for Jackson is
1.82.
(1b) Insurance and investment new business for overseas operations has been
calculated using average exchange rates. The applicable rate for Jackson is
1.82 (2005: 1.84).
(2) Represents cash received from sale of investment products.
(3) Annual Equivalents, calculated as regular new business contributions plus
10per cent single new business contributions, are subject to roundings. PVNBPs
are calculated as equalling single premiums plus the present value of expected
premiums of new regular premium business. In determining the present value,
allowance is made for lapses and other assumptions applied in determining the
EEV new business profit.
(4) In Asia, 'Other' insurance operations include Thailand, the Philippines and
Vietnam.
(5) Balance includes segregated and pooled pension funds, private finance assets
and other institutional clients. Other movements reflect the net flows arising
from the cash component of a tactical asset allocation fund managed by PPM South
Africa.
(6) New business in India is included at Prudential's 26 per cent interest in
the India life operation. Mandatory Provident Fund (MPF) product sales in Hong
Kong are included at Prudential's 36 per cent interest in Hong Kong MPF
operation.
(7) Balance sheet figures have been calculated at the closing exchange rate. The
2005 balance is shown on a constant exchange rate.
(8) Sales are converted using the year to date average exchange rate applicable
at the time. The sterling results for individual quarters represent the
difference between the year to date reported sterling results at successive
quarters and will include foreign exchange movements from earlier periods.
(9) In August 2005, Prudential's joint venture partner in the Prudential ICICI
Asset Management Company purchased an additional 6 per cent share ownership
reducing Prudential's stake to 49 per cent. As a result, Prudential no longer
consolidates the company as a subsidiary.
(10) £262m of FUM reported under Prudential Asian funds operations relates to
M&G's products distributed through those Asian operations and this amount is
also included in M&G's FUM.
This information is provided by RNS
The company news service from the London Stock Exchange
Latest directors dealings
- 6 minutes ago BP
- 18 minutes ago 3i Group
- 20 minutes ago Unicorn Mineral Resources Eur0.01 (Cdi)
- 25 minutes ago SLF Realisation Fund Limited NPV
- 27 minutes ago Premier Miton Group