Prudential raises 2026 buyback to $1.5 billion as new business profit rises 8%

Prudential Plc reported an 8% increase in first-half new business profit to $1.384 billion for the six months ended June 30, 2026, and expanded its 2026 share buyback by $300 million to $1.5 billion. Chief Executive Anil Wadhwani said demand from mainland Chinese visitors for Hong Kong insurance had not weakened after adjustments to tax regulations on overseas asset income, with wealth succession, savings and investment, and medical protection remaining key purchasing drivers. Hong Kong accounted for half of Prudential’s business from local and mainland customers respectively, while protection products continued to generate nearly one-third of premium income. China Life Insurance reported net profit attributable to shareholders of RMB134.49 billion, up 228.6% year on year, as first-half investment income rose to RMB314.5 billion and total investment yield reached 5.58%. Its new business value increased 33.7% to RMB38.17 billion, supported by stronger regular premiums and continued growth in policies with terms of 10 years or longer. Prudential also declared an interim dividend of 8.88 cents per share and maintained its double-digit growth targets, while China Life said it would continue focusing on value, efficiency and business-structure transformation.

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