Prudential has reached five of the six objectives it had set itself for 2013 and is on course to reach its final aim of doubling the 2009 Asia new business profits by the end of the year, Tidjane Thiam said today.
He also said that the insurer plans to raise £10bn, or a third of its market capitalisation value, in cash over the next four years and generate an underlying surplus in its Asia business of £0.9bn - £1.1bn, while aiming for Asia life and asset management to grow at a compound annual rate of at least 15% in 2012-2017 (pre-tax IFRS operating profit). Prudential's strategy will remain unchanged, he confirmed, focusing on a growing demand for savings and protection products in Asia, and meeting the savings and retirement needs of the baby-boomers in the US and the ageing population in the U...
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