Introduction
Adding more to life
By helping to take the financial
risk out of life’s big decisions,
Prudential creates long-term
value for our customers,
our shareholders and the
communities we serve.
Summary financials
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| |
Half year
2017 £m |
Half year
2016 £m |
Change on actual exchange rate basis |
Change on constant exchange rate basis |
| IFRS operating profit based on longer-term investment returns1 |
2,358 |
2,044 |
15% |
5% |
| Underlying free surplus generated1,3 |
1,845 |
1,615 |
14% |
6% |
| Life new business profit1,2 |
1,689 |
1,257 |
34% |
20% |
| IFRS profit after tax6 |
1,505 |
687 |
119% |
109% |
| Net cash remittances from business units |
1,230 |
1,118 |
10% |
- |
Download Half year in numbers as Excel file
- Following its sale in May 2017, the operating results exclude the
contribution of the Korea life business. All comparative results
have been similarly adjusted.
- New business profit on business sold in the period, calculated in
accordance with EEV principles.
- Underlying free surplus generated based on operating
movements from long-term business (net of investment in
new business) and that generated from asset management
operations. Further information is set out in note 10 of the
EEV basis results.
- The Group shareholder capital position excludes the
contribution to own funds and the solvency capital requirement
from ring-fenced with-profits funds and staff pension schemes
in surplus. The solvency positions include management’s
estimate of transitional measures reflecting operating and
market conditions at the valuation date. The estimated Group
shareholder surplus would increase from £12.9 billion to
£13.6 billion at 30 June 2017 if the approved regulatory
transitional amount was applied instead.
- Before allowing for first interim dividend (31 December 2016:
second interim dividend).
- IFRS profit after tax reflects the combined effects of operating
results, negative short-term fluctuations in investment
variances, results attaching to the sold Korea life business and
the total tax charge for the period.
|
| |
Half year
2017 £bn |
Full year
2016 £bn |
Change on actual exchange rate basis |
|
| IFRS shareholders’ funds |
15.4 |
14.7 |
5% |
|
| EEV shareholders’ funds |
40.5 |
39.0 |
4% |
|
| Group Solvency II capital surplus4,5 |
12.9 |
12.5 |
3% |
|
