Pru toasts year-to-date UK retail profits boost

The group has also appointed two non-executive directors, Sir Win Bischoff and Ann Godbehere, to its board. March Tucker, group chief executive of Prudential, says the company has achieved margins on UK new business of 30%, a slight increase on 29% in 2006. The internal rate of return (IRR) reached 15%. Operating profits grew 39%, an increase on 36% in 2006 and 28% in 2005. Total embedded value (EEV) operating profit from continuing operations reached £1,326 million, up 39%. New business annual premium equivalent (APE) reached £1,334 million, up 12%. Tucker says: “Our asset manage...