Prudential’s New Business Profit Rises as Malaysia and Hong Kong Drive Growth

KUALA LUMPUR, AUGUST 2026 — Prudential Plc reported stronger first-half performance in 2026, supported by solid growth across several key Asian markets, particularly Malaysia and Hong Kong.

The insurer’s new business profit reached US$1.38 billion for the six months ended June 30. On a constant exchange-rate basis, the figure was about 8% higher than a year earlier and broadly in line with market expectations.

Malaysia was one of Prudential’s strongest-performing markets, with new business profit jumping 46% to US$70 million. Hong Kong remained the group’s largest contributor, recording an 8% increase to US$581 million.

Singapore also contributed to the group’s growth, while Prudential’s performance outside mainland China remained resilient. Excluding mainland China, new business profit increased by around 10% on a constant exchange-rate basis.

Mainland China, however, recorded a 4% decline in new business profit to US$159 million, partly due to regulatory changes and a shift towards products with lower profit margins.

Investors are also watching the impact of China’s recent move to enforce a 20% personal income tax on returns from Hong Kong insurance policies purchased by mainland customers. Prudential said it remains too early to determine whether the measure will materially affect customer demand.

Despite those uncertainties, Prudential said it remains confident in the long-term growth prospects of its Hong Kong business and the wider Asian insurance market, supported by rising wealth and demand for protection and savings products.

The company also increased its 2026 share repurchase programme by US$300 million to US$1.5 billion and declared an interim dividend of 8.88 US cents per share.