today's figures could not be described as exciting, yet the shares are now +20 at 650 after a low of 615 ..... back in april, aviva made an approach but terms could not be agreed ..... under SE rules, that meant no new approach could be made for 6 months (i assume that only applied to aviva) ...... for all that, if PRU's sp continues to thrive, why question?

Asian profits expected to double.
Looking like theyve got an extremely healthy time ahead outside the U.K.
Becoming major players in both India and China, The U.S.A's of the future.
that would be my answer

I am still holding and pretty happy, not least because sp looks to be breaking through 680 resistance at long last

Trading statement out tomorrow - any views - I'm currently short from @340

I wish I knew the answer. Bought at 275p & currently sitting on profit, but a number of guys on these boards are short PRU for various reasons (see latest page of the FTSE thread with a number of PRU comments).
Broker consensus I saw on Selftrade is 'Buy' with a target price of 568p, but what do they know!!!

Final Results tomorrow - any views?

Took profit a while ago, so don't have an interest atm, but have been watching & tempted to get back in on the assumption that sp will climb to the red DMA ( I assume 50 DMA). Not seen any forecasts on the results, but will be interesting to see if they maintain their divi.

Full Year 2008 New Business - Part 1 (Prudential)





TIDMPRU

RNS Number : 6344N
Prudential PLC
20 February 2009

?




Embargo: 07:01am Friday 20 February 2009


PRUDENTIAL PLC FULL YEAR 2008 NEW BUSINESS RESULTS

STRONG GROUP CAPITAL POSITION - ESTIMATED IGD SURPLUS GBP1.7BN


WE SEPARATELY ANNOUNCE TODAY THE TRANSFER OF THE LEGACY AGENCY BOOK IN TAIWAN
AND THE TAIWAN AGENCY FORCE TO CHINA LIFE INSURANCE COMPANY LTD (TAIWAN) WHICH
WILL INCREASE THE IGD SURPLUS TO APPROXIMATELY GBP2.5BN


TOTAL GROUP INSURANCE SALES UP FIVE PER CENT


TOTAL ASSET MANAGEMENT NET INFLOWS OF GBP4.3BN

on the face of it, a significant bounce due, though NY was unpleasantly weak again and London indicating a similar follow through

a bigger chart and easier to read too! ...... as always, i show 25, 50 and 200 dma

Certainly one of the most verbose statements I've seen!

typical .... correct forecast; no spare cash; no bunce to bung in the bank!

Credit for this to 'Spreadbets.com' :
"The Bet: We recommend opening a buy bet in March Prudential (PRU) expiry March 17th at 20 a penny when the quote is standing at 258p - 260p. The target is 308p and the stop loss at 229p for a risk of 620 at our suggested wager.

The Fundamental View: We are opening a buy bet in Prudential off the back of the fears stalking the insurance sector that hefty rights issues are in the offing. This may very well be the case, but our view is that stocks like Prudential and Aviva - the latter of which we have recently been short of, have now fallen so far that even if there are cash calls these are probably in the price. This is an aggressive view on the bullish side and assumes that it is sickly Legal & General that is dragging its fellow sector members down. But at current levels one can have a stop loss below the November low of 233p and at least look for a dead cat bounce in the shares.

The Technical View: We are looking at a charting buy for Prudential on the basis that the stock will not make a new lower low versus November's 233p. Our stop loss is at 229p and the initial target is the initial February support of 308p. Above this suggests that the shares have made a near term floor has been made."

another disaster from the resident bighead that is Cynic!!! Even TMC which he claimed was as good as worthless is up 30% since I made a thread on it. Maybe he'd be better concentrating on his 'pretend' business! Some business it must be that he has that much time trying to knock those that are expert in making money on the markets, poor little loner that he is. Never mind Cynic, one day you may find a purpose in life, investing sadly does'nt seem your forte!

kb
on what basis do you consider this a disaster for cynic?
personally i find his views and comments to be most worthy of note, but thats just my opinion. hope this opinion of mine wont deter you from answering my question.
thanks and regards and look forward to your reply.
jkd

kb (aka "the raddled queen") is just sour and does not like the fact that i tell it as i see it ..... among her faves are TMC, which though it owns(??) some big nickel deposits is currently on its uppers - its own recent RNS admits as much - and TAIH which I have always regarded as a load of chinese snake oil - and so it does indeed seem to be.

and a mere aside ..... kb "made a thread on TMC" ..... where?????? ..... not on this site she didn't

for myself, i readily admit when i get it wrong, though quite how PRU can be deemed a disaster for me is entirely beyond my very limited comprehension.


but for your comments, jkd, i thank you

would be happy to know your holdings and the price you've paid btw. Even if i'd not sold any TMC i'd be 30% up btw?? You seem very interested in TMC btw!

kb
you seem to be floundering
are you going to answer my question or attempt to sidestep/ ignore it?
regards
jkd
ps i wrote it first then looked it up. seems a very appropriate word.

i don't hold PRU and have not done so for a long time

Certainly the Brokerage houses like the stock and it does look far too cheap..

Prudential PLC

FORECASTS 2008 2009

Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

SG Securities [D]
12-03-09 BUY 21.57 18.91 44.45 20.80

Panmure Gordon
12-03-09 BUY 67.20 18.90 73.73 19.84

Oriel Securities
11-03-09 HOLD 18.30 18.30

Keefe Bruyette & Woods Ltd
09-03-09 OUTP -73.60 19.80 80.30 21.80

Charles Stanley
06-03-09 HOLD

ABN AMRO [D]
10-02-09 BUY 1,298.00 36.67 18.90 1,433.00 40.23 19.90

Shore Capital [D]
09-02-09 BUY 590.00 39.10 19.00 1,440.00 40.80 20.00

ING Financial Markets
14-11-08 BUY

Daiwa Europe Ltd
06-10-08 OUTP 2,799.00 78.60 18.90 3,326.00 93.50 19.85

2008 2009
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Consensus 2,799.00 67.20 18.90 3,326.00 77.13 19.84

1 Month Change 0.00 -3.19 0.00 0.00 0.01 0.00
3 Month Change 0.00 -11.21 0.00 0.00 -5.68 0.00

Notes to forecasts
D flag: Indicates forecasts calculated under IFRS rather than EEV


GROWTH
2007 (A) 2008 (E) 2009 (E)

Norm. EPS -22.34% 105.65% 14.78%
DPS 5.96% 8.50% 4.97%

INVESTMENT RATIOS
2007 (A) 2008 (E) 2009 (E)

Dividend Yield 6.76% 7.33% 7.70%

Dividend Cover 1.88x 3.56x 3.89x

PER 7.89x 3.84x 3.34x

PEG -0.35f 0.04f 0.23f

Net Asset Value PS 73.40p p p

From topspredbet site..


Open A BUY BET IN JUNE PRU..

I see the TA er as cottoned onto the channel opportunity I also spotted..

http://sharecrazy.com/beta/Tips/1593/open-a-buy-bet-in-june-prudential

IF the markets are going to stay strong for a little while, then i guess PRU is a reasonable finanial stock to back ..... i see that on 20/2 i suggested PRU might bounce ..... the performance thereafter was not frightfully impressive, but then nor were the markets ..... yesterday's close is pretty much at the same point, but you may want to take a look at the simplistic chart i posted on 20/2 where you will note the proximity of 25 dma, which might be a resistance.

by the way, the "sharecrazy" target is 310 which is spot on 50 dma

Yes interesting comments cyners.

Dont forget we have results this week aswell so we might have a run up to them.

have now taken a fairly modest stake ..... reckon it's a safer bet than PCI!

a few minutes later ....
and already very nicely in the money .... thanks digit!

Yep up nearlly 7% not bad for the kick off to the week.

Loads err money cyners, up nearlly 10%.

"you know it makes sense"

just banked a useful profit ..... figures were terrific, but shall not be on line again until late afternoon, so took the PRUdent line (groan!!)

this is silly ..... bravely bought back half of yesterday's quantity at a considerably higher price and currently show almost double the profit!

have PRUdently banked a thoroughly undeserved and very tasty profit at 342 ..... all market is feeling frothy and just soooooooo easy to get greedy

time to dig this one out again! ...... scrip issue announced today, so that will play havoc with the charts in due course ..... in the meantime, sp is (at last) challenging 200 dma, so with financial stocks now coming in from the frozen wasteland, this is well worth watching

decent chart on post 10

as always, broker's tips an invaluable aid in boosting sp!!!

HSBC raises Prudential Plc target price to 500P from 350P

quite a nice looking chart too

larger scale chart showing support - one hopes - at recent high

1/2 year results due on thursday, so either just some profit-taking today, or someone knows more than we do .... both are distinct possibilities

well done cynic .... good call that one!
sp now toying with this minor resistance, but decided to cash in my very tasty profit (514) but shall continue to watch with a view to re-buying at some point

PRUDENTIAL PLC TO SEEK LISTING ON THE HONG KONG STOCK EXCHANGE
UPDATE ON COMBINATION WITH AIA



Further to the announcement on 1 March 2010, in relation to the combination of Prudential plc ("Prudential") and AIA Group Limited ("AIA"), Prudential today is pleased to announce that it is able to accelerate its plans for seeking a listing of its ordinary shares on the Hong Kong Stock Exchange. Prudential has made an application to the Hong Kong Stock Exchange for the listing of, and permission to deal in, its shares and it is now aiming to have the listing effective prior to launch of the rights issue announced on 1 March 2010.

Prudential puts its case for AIA takeover

Prudential will launch a charm offensive this week in an attempt to quell the nerves of its leading investors about its $35.5 billion agreed bid to buy AIA in Asia and pay for it with a $21 billion rights issue.

might be an interesting one to short if sp hits 200 dma at about 540, not least because the markets are starting to look a bit toppy to me

cynic - you may well be right - I'm long from 502 with stop in place and in profit.

Broker note from Merrill Lynch:
"We summarise our thinking on the Prudential/AIA deal having digested the detail
and engaged in many conversations with investors. It has become apparent, in
our view, that shareholder approval of the deal should not be seen as a given.We
think the prospects of gaining 75% approval are finely balanced. In terms of the
share price, we see three main scenarios from here and set out our thinking on
how investors should position for these:
* The shares come under sustained pressure. The shares look vulnerable
down to the c450p level at which point the chances of the deal breaking and
a snap back to c600p pre-deal becomes high enough to discourage selling
*The shares become range bound until the rights issue period. This is
a more likely scenario, in our view. Our analysis of past rights issue patterns
suggests it is possible the shares come under most pressure in the early
days of the ex-rights period before recovering in the latter part of this period.
*The shares recoup initial losses and rally into the deal. In this case the
deal starts to look less dilutive and the chances of a successful vote increase.
Win / win from here; retain Buy
From current levels, we see something of a win/win situation over a 12 month
view. The shares either go up; or the shares go down giving a more attractive
entry point for the bounce that we believe will happen if a) the deal is abandoned
or voted down; or b) the deal goes ahead and a re-rating occurs over the
subsequent months. This is predicated on our view that the combined entity is
undervalued at less than 12x EPS; and that Prudential is even more attractive on
a stand alone basis at less than 10x EPS. Reiterate Buy rating; PO 750p."

.

Just closed @548 +46

sp teased through 200 dma but failed ...... quite possibly time to short

Yes - I'm glad to be flat!

Pru saves Asia deal with 11th-hour pact

PRUDENTIAL saved its blockbuster takeover of an Asian rival yesterday after stitching together a last-minute deal with the Financial Services Authority.

Details of the arrangement are expected to be announced tomorrow. It is understood that Prudential has agreed to provide a 1 billion backstop fund to meet the FSAs concern about the adequacy of its capital reserves.

Prudential PLC Revised AIA Offer Rejected By AIG
By Digby Larner
Of DOW JONES NEWSWIRES

U.K. insurer Prudential PLC's (PRU.LN) attempt to seal the biggest-ever insurance takeover suffered a major setback Tuesday after it failed to lower the cost of its $35.5 billion agreement to buy American International Group Inc.'s (AIG) largest Asian life-insurance unit.

Prudential said it is considering its position after AIG rejected a proposal to slash the value of the deal to $30.375 billion.

AIG said in a separate statement that, "after careful consideration, the company will adhere to the original terms of its previously announced agreement with Prudential PLC for Prudential to acquire AIG's wholly owned pan-Asian life insurance subsidiary AIA Group Limited. The company will not consider revisions to those terms."

The planned tie-up has been dogged by worries from shareholders about the cost and the execution risk.

Some of Prudential's top shareholders, including Blackrock Inc. (BLK), Legal & General (LGEN.LN) and Fidelity, are clamoring for a new price as low as $30 billion, or about 15.5% less than the original price, the Wall Street Journal said Friday, citing a person familiar with the matter.

AIG and the U.S. government, which owns a nearly 80% stake in the insurer, intend on using much of the proceeds to repay U.S. taxpayers for part of the $132 billion bailout AIG received during the financial crisis.

Prudential shareholders are due to vote on the AIG deal June 7. Some shareholders have also criticized the $21 billion of cash they would need to put up to help pay for the acquisition of AIA Group Ltd.

Last week, Prudential reiterated that the AIG deal was in the best interest of shareholders amid continued reports of growing shareholder discontent.

"There is no change to our position. As we have said, we believe this opportunity will deliver substantial long-term value for our shareholders," a spokesman said.

The Prudential said Tuesday that the proposed new deal comprises $23 billion cash and 2.16 billion newly issued shares of Prudential; $2 billion in aggregate principal amount of perpetual tier one notes to be issued by Prudential.

Prudential shares closed Friday at 541.5 pence valuing the company at GBP13.75 billion.

PRUDENTIAL PLC
PROPOSED TERMINATION OF AGREEMENT TO COMBINE WITH AIA GROUP LIMITED


Further to its announcement yesterday, Prudential plc ("Prudential") announces that it is in negotiations with American International Group, Inc. ("AIG") for the termination of the agreement (the "SPA") for the combination of Prudential with AIA Group Limited ("AIA").

If, as expected, the agreement with AIG is terminated, the Board of Prudential will not put any resolutions to the court and shareholder meetings convened for 7 June 2010 and it will not be proceeding with the rights issue or other financing relating to the Transaction. The reconvened Annual General Meeting will go ahead as planned on 7 June 2010.

Prudential plc - Termination of Agreement


TIDMPRU

RNS Number : 9968M
Prudential PLC
03 June 2010

?
For immediate release

3 June 2010

PRUDENTIAL PLC
TERMINATION OF AGREEMENT TO COMBINE WITH AIA GROUP LIMITED

Further to its announcement yesterday, Prudential plc ("Prudential") confirms
that its agreement with American International Group, Inc. ("AIG") for the
combination of Prudential with AIA Group Limited (the "SPA") has been
terminated.

Accordingly, the Board of Prudential will not put any resolutions to the court
and shareholder meetings convened for 7 June 2010 and it will not be proceeding
with the rights issue or other financing relating to the Transaction. The
reconvened Annual General Meeting will go ahead as planned on 7 June 2010.

Prudential will pay AIG a termination fee of GBP152.569 million (including VAT,
if any). Prudential and AIG have agreed to release and waive any claims each
may have against the other.


ENDS

Trading Update

PRUDENTIAL PLC TRADING UPDATE



Group-wide sales of 1,355 million for the first five months of 2010 up 27 per cent

Strong performance in Asia, with sales up 33 per cent to 579 million in the first five months of 2010

Record retail sales in the US. Outperformance continues with new business sales of 454 million, up 41 per cent

Prudential UK up 4 per cent at 322 million

Interim Management Statement.

PRUDENTIAL PLC THIRD QUARTER 2010 INTERIM MANAGEMENT STATEMENT


CONTINUED STRONG MOMENTUM WITH 9 MONTH NEW BUSINESS SALES OF 2,464 MILLION


GROUP-WIDE SALES OF 2,464 MILLION UP 24 PER CENT. NEW BUSINESS PROFIT UP 21 PER CENT


ROBUST GROWTH IN ASIA CONTINUES WITH YEAR TO DATE SALES UP 32 PER CENT AND YEAR TO DATE NEW BUSINESS PROFIT UP 34 PER CENT. HIGHEST THIRD QUARTER SALES FOR OUR ASIAN BUSINESS, UP 25 PER CENT


SUSTAINED SALES MOMENTUM IN US. YEAR TO DATE SALES UP 33 PER CENT AT ATTRACTIVE MARGINS


UK FOCUS ON VALUE OVER VOLUME CONTINUES TO DELIVER HIGHER NEW BUSINESS PROFIT, UP 14 PER CENT


ASSET MANAGEMENT NET INFLOWS OF 6.2 BILLION, DRIVEN BY VERY HEALTHY M&G RETAIL NET INFLOWS OF 5.1 BILLION


CAPITAL POSITION REMAINS STRONG - IGD SURPLUS ESTIMATED AT 3.4 BILLION 1

Looks like quite a few of the big insurers are reporting interim results this coming week (AV., PRU etc). Results are expected to be pretty good according to press reports, so might be a good opportunity for a trading bounce. Also increased divi from the PRU expected (up 20% ?).

Yes a busy week with updates from Aviva, L&G, Old Mut and RSA. RSA and Aviva on Thursday.

Blackrock < 5%

PRUDENTIAL PLC STATEMENT

Prudential notes recent press speculation in relation to the Group.

Prudential regularly reviews its range of options to maximise the strategic flexibility of the Group. This includes consideration of optimising the Group's domicile, including as a possible response to an adverse outcome on Solvency II.

There continues to be uncertainty in relation to the implementation of Solvency II and implications for the Group's businesses. Clarity on this issue is not expected in the near term.

FT:
Prudential, one of the UK’s oldest insurers, is considering plans to uproot its headquarters from London to Hong Kong amid concerns about the impact of new European capital adequacy regulations.
People familiar with the situation say a possible shift out of London is being weighed up by the group, which has £349.5bn of assets under management.

Tidjane Thiam, chief executive of Prudential, has recently raised concerns about the “unintended consequences” of Solvency II regulations. At the World Economic Forum in Davos in January, Mr Thiam warned that if “certain versions” of Solvency II insurance rules, due to come into force in 2013, were implemented, investing in corporate bonds, infrastructure and some bank assets would be “very difficult”.

Morgan Stanley note:
What’s driving this? Solvency 2 has an extra-territorial aspect in that it applies to an EU-domiciled insurers’ global operations unless overseas units are deemed to operate in “equivalent” regimes. If the regime is not deemed to be technically “equivalent” to Solvency 2, then the insurer will potentially be required to hold EU levels of capital for that foreign unit. This is especially pertinent for the US – where we believe Solvency 2 capital requirements are likely to be higher than local ones (especially for fixed annuities) and EU players have significant operations. Furthermore, the US regime is not likely to meet equivalence requirements in the short to medium term.
What’s likely to happen? Our base case remains that the US will be “deemed” equivalent for Solvency 2 – at least for an initial time period. Given the importance of the US life market to EU insurers, we doubt that the European Commission will ultimately want to disadvantage domestic insurers.
Would it make sense for Pru to move its HQ to Hong Kong? A change of domicile would not impact the UK business – which would come under the scope of Solvency 2 in any event, however it would mean that the US business would not come under the scope of S2.
In our view, merely moving Pru’s HQ to Hong Kong would not impact the rating of the stock. We believe in order to materially narrow the rating gap of its Asia business with AIA, a change in corporate structure would be required – not just a change in legal domicile. We believe “domestic” Asia investors have limited appetite for the US and UK operations of the Pru.

Nomura has reiterated its reduce rating and 700p target price for insurance giant Prudential ahead of the group's full-year results next Tuesday.

Nomura believes that Pru's US business is likely to "plateau" due to the companies intention to moderate its US growth ("since it was becoming too large a part of the group") and its demanding comparatives over the past three years.

Full Year Results.

..Prudential to name Paul Manduca as new chairman

By James Quinn | Telegraph – 17 minutes ago
.

......
Prudential (LSE: PRU.L - news) is to name Paul Manduca as its new chairman following a five-month search to replace the departing incumbent, Harvey McGrath.

Mr Manduca, the former chief executive of Rothschild Asset Management, has been chosen by the FTSE 100 (Euronext: VFTSE.NX - news) insurer’s board after a lengthy search of internal and external candidates.

It is understood that in recent days the board has passed his name to the Financial Services Authority, which is in the process of vetting his credentials and past experience.

As the potential chairman of the high-profile and complex insurer, not to mention the head of one of the UK’s largest fund managers in Prudential’s M&G division, the regulator must be certain that Mr Manduca has the appropriate skills to lead the board before sanctioning the appointment.

Subject to the FSA’s approval, Mr Manduca will take over from Mr McGrath at some point over the summer, allowing for what is expected to be a small handover period. It is expected an announcement on Mr Manduca’s appointment, subject to regulatory clearance, could be made as early as this week.

At the same time, it is thought Mr Manduca will step down as chairman of Aon UK, the British arm of the global insurance broker.

Mr Manduca’s pending appointment may be seen as controversial by some, given that he, as Prudential’s senior independent director, has been stewarding the search process.

Prudential sources indicated that he initially resisted overtures from other board members for him to throw his hat into the ring, despite his considerable fund management and public company experience.

In recent weeks, it was reported that Sir Nigel Rudd, chairman of Invensys (LSE: ISYS.L - news) , and Glen Moreno, chairman of Pearson (EUREX: PSOF.EX - news) , were the two leading front-runners for the Prudential post, but it emerged last week that neither man was in the running. One source said that the external search had been over for more than a week.

Among the internal candidates, according to one board member spoken to who asked to remain anonymous, Mr Manduca was always thought to be the leading contender, despite his initial resistance.

The only other board member who was seen as a possible candidate was Sir Howard Davies, the former chairman of the FSA. One source indicated the dynamic between Sir Howard and the Prudential’s chief executive, Tidjane Thiam, was not ideal, with suggestions Sir Howard would have wanted to take on more of an executive chairman role.

Both Mr Manduca and Sir Howard joined Prudential in October 2010, bolstering its board following the backlash which came after its botched $35.5bn (£22.4bn) bid for Asian insurer AIA. Mr McGrath took the rap for the collapse of the AIA deal, with more than 26pc of shareholders choosing to either vote against or abstain in the vote for his re-election at the 2011 annual meeting. Mr McGrath announced his decision to stand down in December 2011.

Mr Manduca’s in-tray will include reconnecting with investors after 30.3pc of shareholders last week voted against the group’s pay report and working with Mr Thiam on the difficult issue of where Prudential moves regulatory domicile outside the UK.

Spokesmen for both Prudential and the FSA declined to comment

Half Year 2012 - Business Review

ASIA CONTINUES TO DRIVE PROFITABLE GROWTH, WITH STRONG CASH REMITTANCES FROM ALL businesses

IFRS1:

· Operating profit of £1,162 million, up 13 per cent
· Asia life insurance business operating profit2 of £409 million, up 26 per cent
· Total profit before tax3 of £1,259 million, up 13 per cent
· Shareholders' funds of £9.3 billion, up 8 per cent4

New Business:

· EEV new business profit of £1,141 million, up 7 per cent
· Asia EEV new business profit of £547 million, up 18 per cent

Embedded Value:

· Operating profit of £2,109 million, down 2 per cent, reflecting low-interest rate environment
· Asia life insurance business operating profit2 of £872 million, up 13 per cent
· Shareholders' funds of £20.6 billion, up 5 per cent4, equivalent to 806 pence per share

Capital & Dividend:

· Strong underlying free surplus generation of £1.4 billion (before investment in new business), unchanged from last year
· Net remittances from business operations up 5 per cent to £726 million
· Asia net cash remittance of £126 million, up 20 per cent
· Insurance Groups Directive (IGD) capital surplus estimated at £4.2 billion; solvency requirements covered 2.7 times
· 2012 half year dividend increased by 5.7 per cent to 8.4 pence per share

Shares in FSTE 100 life insurer Prudential are pushing against their high point again, after the price ended on 859p on Friday. That's not far below October's 52-week high of 870p, and with the price having been on a steady climb since June, I wouldn't bet against that peak being surpassed pretty soon.

With forecasts strong, there could well be a fair bit more to come. Analysts put the shares on a full-year price-to-earnings (P/E) ratio of 12.5, falling to 11 next year, and there's a dividend in excess of 3% expected.

Business review going down well!

IFRS1:
· Operating profit of £2,533 million, up 25 per cent
· Asia operating profit2 of £988 million, up 26 per cent
· Total profit before tax3 of £2,810 million, up 54 per cent
· Shareholders' funds of £10.4 billion, up 21 per cent

New Business:
· EEV new business profit of £2,452 million, up 14 per cent
· Asia EEV new business profit of £1,266 million, up 18 per cent

Embedded Value:
· Operating profit of £4,321 million, up 9 per cent
· Asia life insurance business operating profit of £1,960 million, up 11 per cent
· Shareholders' funds of £22.4 billion, up 14 per cent, equivalent to 878 pence per share

Capital & Dividend:
· Underlying free surplus generation of £2.7 billion (before investment in new business), up 6 per cent from 2011
· Net remittances from business operations up 9 per cent to £1,200 million
· Asia net cash remittance of £341 million4, up 66 per cent, and for the first time, the largest contributor of cash to the Group
· Insurance Groups Directive (IGD) capital surplus estimated at £5.1 billion5; solvency requirements covered 3 times
· 2012 full year dividend increased by 15.9 per cent to 29.19 pence per share

Flying again.

FSA Final Notices

Prudential plc and its wholly owned subsidiary The Prudential Assurance Company Limited have agreed to settle with the Financial Services Authority over issues relating to the attempt to acquire AIA, the Asian subsidiary of AIG, in early 2010. The companies have agreed to pay fines totalling GBP30 million, in respect of a decision by the FSA that it and the UKLA should have been informed earlier about Prudential's contemplation of the potential transaction. The Group Chief Executive, Tidjane Thiam, has also agreed to be censured in respect of a decision by the FSA that it should have been informed earlier.

The FSA has confirmed the following in a statement accompanying the Final Notices published today:

"The investigation was into past events and does not concern the current conduct of the management of the Prudential Group. The FSA accepts that Prudential did consider their obligations in forming their assessment in respect of informing the regulator. Therefore, although the FSA considers that the circumstances of these breaches are serious, the FSA does not consider they were reckless or intentional."

Paul Manduca, the Chairman of Prudential PLC, said: "The Board has decided to settle this matter in the best interests of the Group and all its stakeholders. We wish to draw a line under the matter, and to ensure our constructive relationship with our regulators remains good. Tidjane acted at all times in the interests of the Company and with the full knowledge and authority of the Board. The Board wishes to express its satisfaction that all parties have agreed to this settlement."

"Prudential works hard to maintain close and positive relationships with its regulators and the Group's relationship with the FSA continues to be good. The FSA has determined that it should have been informed earlier about the fact we were contemplating the AIA transaction and we regret, with hindsight, not so doing."

"Over the past three years, our successful business strategy, led by Tidjane, and fully supported by the Board, has delivered excellent results for customers, shareholders and employees. This was most recently demonstrated by our strong annual results for 2012."

JACKIE HUNT APPOINTED AS CHIEF EXECUTIVE, PRUDENTIAL UK AND EUROPE

Prudential plc ("Prudential") announces the appointment of Jackie Hunt as Chief Executive, Prudential UK and Europe and to the Board of Prudential plc. Jackie will succeed Rob Devey, who will leave the Group at the end of October 2013 to pursue new opportunities.

Jackie will join Prudential from Standard Life plc where she is Chief Financial Officer. Before joining Standard Life in 2009, Jackie held a number of senior leadership roles within the UK insurance industry, first at Royal & Sun Alliance and then at Aviva.

Panmure Gordon Buy 1,138.50 1,160.00 1,160.00 Reiterates

Interims out today http://www.moneyam.com/action/news/showArticle?id=4649009

Interims out today.

PRUDENTIAL PLC 2014 HALF YEAR RESULTS

Group Performance Highlights (on constant exchange rate basis)
· IFRS operating profit of £1,521 million, up 17 per cent1
· EEV new business profit2 of £1,015 million, up 24 per cent1
· Underlying free surplus generation3 (after investment in new business) of £1,219 million, up 13 per cent1
· Net cash remittances from business units up 15 per cent to £974 million

Business Units Performance Highlights (on constant exchange rate basis)
· Asia life and asset management IFRS operating profit of £525 million, up 19 per cent1
· Jackson life IFRS operating profit of £686 million, up 28 per cent1
· UK life IFRS operating profit of £374 million, up 10 per cent
· M&G IFRS operating profit of £227 million, up 11 per cent

Capital & Dividend:
· IFRS shareholders' funds of £10.6 billion, up 9 per cent4
· EEV shareholders' funds of £25.9 billion, up 4 per cent4, equivalent to 1,009 pence per share
· Insurance Groups Directive (IGD) capital surplus5 estimated at £4.1 billion; solvency requirements covered 2.3 times
· 2014 interim dividend increased by 15 per cent to 11.19 pence per share

The Share Centre has given Prudential a 'buy' rating, saying that the insurer is "attractive for investors" after another set of strong results on Tuesday.

"We continue to recommend Prudential as a 'buy' for investors looking for a positive investment idea that spans the US, Asia and the UK. The Asian growth story continues to remain highly attractive along with strong UK and US operations."

Bullish piece.....

http://citywire.co.uk/money/the-expert-view-ladbrokes-ao-world-and-prudential/a767110#i=4

19 Nov 2014 Prudential PLC PRU Deutsche Bank Buy 1,480.25 1,491.00 1,630.00 1,680.00 Reiterates

Chart looking good GF.

Exane BNP Paribas Underperform 1,512.25 1,176.00 1,176.00 Retains

PRU..Prudential stock breaking out to 10 year high A lot of broker backing yesterday. Deustche 19 Nov Buy 1,680.00

an interesting call indeed ..... sp has already risen about £2 in the last 3 months

Yep Cyners and broker targets have it heading higher, just look at that chart.

Have a look at NG - similar - ex dividend tomorrow though.

i concur; the chart's terrific - see a slightly easier one to read on post 61

however, i don't really want to throw more money into the market at the moment, so not sure that i want to dump anything to buy here

19 Nov 2014 Prudential PLC PRU Societe Generale Buy 1,505.75 1,491.00 1,530.00 1,530.00 Reiterates

PRU

Commentating on yesterdays Results:

Shore Capital analyst Eamonn Flanagan said:

Prudential’s excellent performance in the first nine months of 2014, with both new business volumes and profits ahead of our expectations and towards the top end of market forecasts, was delivered in the face of significant foreign exchange headwinds and turmoil within Indonesia, one of its key ‘sweet spot’ territories in Asia. The underlying figures at constant forex, growth of 17% in new business profits and 14% in volume, bears testimony to the strength of Prudential’s strategic positioning in the key Asian, US and UK markets, the depth of its franchise across the globe and the continued focus on capital efficiency and profitability over volume. This, in turn, should translate into excellent delivery of IFRS [international financial reporting standards] profits and cash, with investors ultimately benefiting via dividend flows.

Bernstein Research said:

Prudential reported a solid set of numbers at the third quarter, beating consensus, and in line with our estimates. Shorter-term macroeconomic challenges, and Asian currency weakness remains, but underlying earnings progress remains solid. We retain our outperform rating on Prudential [with a price target of] 1650p

From The Motley Fool today........

Aviva plc, Legal & General Group Plc And Prudential plc Have Completely Thrashed This Market
By Harvey Jones - Wednesday, 19 November, 2014


When I did a portfolio spring clean earlier this year there were two stocks I didn’t even consider dumping: insurance giants Aviva (LSE: AV) and Prudential (LSE: PRU).

I’m glad I held onto them, because both have thrashed the wider stock market, as has the other big name in the life sector, Legal & General Group (LSE: LGEN).

How To Crush The Market
While the FTSE 100 has stagnated over the last 12 months, Aviva is up 25%, L&G is up 16% and the Pru is up 18%.

That’s tremendous performance in what should have been a difficult period, given market stagnation, and Chancellor George Osborne’s radical pensions overhaul, which instantly halved annuity sales.

Pru’s Aim Is True
Pru has smashed analyst expectations again, with double-digit growth year-to-date in both new business profits and annual premiums across its three life businesses in the UK, US and Asia.

Its asset management business also saw net inflows of £9.6bn, including strong performance in the UK.

The Pru share price is up 150% over the last three years, and although its 2.23% dividend yield disappoints, there is plenty of scope for progression on that front.

A Legal Matter
L&G also has momentum on its side, its share price up 136% over three years. Q3 results showed impressive growth in revenues, operating profits, customers and net cash, and a continuing strong return on equity.

Individual annuity sales fell 60%, but the bulk annuity market is more than compensating, while its investment management business saw total assets increase by £82bn to £676bn.

Its 3.8% yield trumps both Prudential and the FTSE 100 average of 3.5%.

Viva Aviva
Aviva is playing catch up with its runaway rivals, but I bought it as a recovery play, and it is steadily getting there. Its net asset value is up 10% year-to-date, new business is up 15% by value and its general insurance combined ratio has improved to 95.9%.

Aviva may lack Prudential’s exposure to fast-growing Asian markets, but its tighter focus on the UK and Europe has served it well. Although its 2.8% yield hardly thrills.

Reassuringly Expensive
All three insurers benefit from low interest rates (which force savers to consider more dynamic alternatives), ageing Western and Asian populations, and the push to encourage private pension provision.

Success comes at a price, however. All three look expensive right now, with L&G and the Pru trading at around 16 times earnings, and Aviva at 24 times.

Given their breakneck growth, that may be a price worth paying.

27 Nov 2014 Prudential PLC PRU Barclays Capital Overweight 1,519.50 1,519.00 - 1,787.00 Reiterates

SP Target 1787p

HG Capital increase holding http://www.moneyam.com/action/news/showArticle?id=4972907

Oi fish face, stick a chart in header will ya'.

moi?
ok will do when i get a mo .... obviously didn't know how to when i started the thread
what periods would you like?

Over a year please.

Ed; I thank you.

chuckle .... you also have over 5 years
confess i haven't followed PRU for many a moon

No nor me, but I like to keep and eye on them as they seem solid, as solid as any company can be these days that is.

Prudential boss Tidjane Thiam to lead Credit Suisse

Prudential plc - FY14 Results - Business Review

PRUDENTIAL CONTINUES TO DELIVER STRONG GROWTH IN A CHALLENGING ENVIRONMENT AND REBASES DIVIDEND UPWARDS

Group Performance Highlights (on constant exchange rate basis):
· IFRS operating profit of £3,186 million, up 14 per cent1
· EEV new business profit2 of £2,126 million, up 10 per cent1
· Underlying free surplus generation3 (after investment in new business) of £2,579 million, up 9 per cent1
· Net cash remittances from business units up 11 per cent to £1,482 million

Business Units Performance Highlights (on constant exchange rate basis):
· Asia life and asset management IFRS operating profit of £1,140 million, up 17 per cent1
· Jackson life IFRS operating profit of £1,431 million, up 21 per cent1
· UK life IFRS operating profit of £752 million, up 7 per cent
· M&G IFRS operating profit of £446 million, up 13 per cent

Capital & Dividend:
· IFRS shareholders' funds of £11.8 billion, up 22 per cent4
· EEV shareholders' funds of £29.2 billion, up 17 per cent4, equivalent to 1,136 pence per share
· Insurance Groups Directive (IGD) capital surplus5 estimated at £4.7 billion; solvency requirements covered 2.4 times
· 2014 full year dividend increased by 10 per cent to 36.93 pence per share

I'll never understand this game as long as I have a hole in my backside. Great results and price drops initially. Why would anyone rush for the exit? Management uncertainty perhaps.

Pru UK and Europe CEO leaves

StockMarketWire.com

Prudential UK & Europe chief executive Jackie Hunt has left with immediate effect with group investment director John Foley appointed as her interim successor.

Foley will fill the role alongside his current duties until a permanent successor is announced in due course.

Group CEO Mike Wells said: "I would like to thank Jackie for the contribution she has made during a period of radical change in the UK marketplace. She leaves our UK life business in a strong position to continue to meet our customers' long-term savings and retirement needs while delivering valuable returns for our shareholders.

"I am also delighted that we have someone with the experience and expertise of John Foley to take the business forward until a permanent successor is appointed."

Chairman Paul Manduca said: "Jackie has been an important asset to the Group during her time at Prudential, navigating our UK business through a time of significant change. The business is in good shape, and on behalf of the Board I would like to wish her well for the future."

At 2:39pm: (LON:PRU) Prudential PLC share price was -10.5p at 1499p

Wonder why she went with "immediate effect"?

3rd Quarter IMT. http://www.moneyam.com/action/news/showArticle?id=5149857

Prudential (PRU) lost 3.9% to 1489.5p on news GBP2.7bn was withdrawn from its investment manager M&G in the September quarter.

As well confirming its Solvency II surplus at 30 June 2015 was £9.2bn and its solvency ratio was 190%, Prudential has appointed John Foley the permanent chief executive of the group's UK and Europe division after he stepped into the role as an interim measure in October last year. Group chief executive Mike Wells said Foley had played a huge role in the group's success in recent years by leading the risk and investment departments.

The Capital Group Companies, Inc. go above 10% http://www.moneyam.com/action/news/showArticle?id=5208054

Broker Forecast - Deutsche Bank issues a broker note on Prudential PLC

Deutsche Bank today reaffirms its hold investment rating on Prudential PLC (LON:PRU) and raised its price target to 1620p (from 1565p).

Story provided by StockMarketWire.com

Down 5.2% today.

Exane BNP Paribas Outperform 1,275.00 - 1,800.00 Initiates/Starts

Barclays Capital are overweight on the Pru today so have docked a whole 1p off their price forecast.

Full year results:http://http://www.moneyam.com/action/news/showArticle?id=5512072

Up over 3% so far.

Prudential is about to look for buyers for about £10 billion of its annuities business, which could lead to the sale of the entire £45 billion division and the transfer of thousands of policyholders to a new provider. Britain's biggest insurer recently ran a search for investment bankers to advise it on the divestment and has tentatively decided to start with a £10 billion sale, which may be broken up into two blocks of £5 billion.

JP Morgan Cazenove Neutral 1,877.75 - - Reiterates

Shore Capital Buy 1,877.75 - - Reiterates

Gone off insurers myself but a fair chart there.

Time to enter the Pru again on today's dip.

Barclays Cap. And Credit Suisse up there appraisel on the Pru.

PRUDENTIAL PLC FULL YEAR 2017 RESULTS


2017 FINANCIAL OBJECTIVES DELIVERED AND SUSTAINED GROWTH IN PROFIT AND CASH


Performance highlights on a constant (and actual) exchange rate basis

· Group IFRS operating profit4 of £4,699 million, up 6 per cent1 (up 10 per cent2)

· Asia double-digit broad-based growth in new business profit3, up 12 per cent1, IFRS operating profit4, up 15 per cent1 and underlying free surplus generated5, up 19 per cent1

· US separate account net inflows6 of £3.5 billion contributing to separate account assets 19 per cent1 higher at £130.5 billion

· M&G Prudential assets under management7 up 13 per cent to £351 billion, driven by record net inflows into M&G and PruFund

· Full year 2017 ordinary dividend increased by 8 per cent to 47 pence per share

· Group Solvency II surplus8,9 estimated at £13.3 billion, equivalent to a cover ratio of 202 per cent

Mike Wells, Group Chief Executive, said: 'Our clear, consistent strategy, high-quality products and constantly improving capabilities have enabled us to deliver excellent progress across the Group, led by double-digit growth in our Asia business. We have also achieved all of our 2017 objectives10, which we set in December 2013. This represents the third set of objectives successfully achieved within the last 10 years.

'The performance of our Asia business is testament to the strength, scale and diversity of our platform in the region, our focus on recurring-premium health and protection business and the quality of our execution. Our Asia life businesses delivered a 15 per cent1 increase in IFRS operating profit4 and a 12 per cent1 increase in new business profit over the year, while assets under management at Eastspring increased by 18 per cent2. We continue to develop our capabilities in Asia, building scale and enhancing quality.

'In the US our life business, Jackson, remains focused on meeting the retirement income needs of the growing numbers of baby boomer retirees and extending our products and reach to improve access to the large asset pools of the fee-based advisory market. Jackson delivered positive separate account net inflows6 of £3.5 billion, with separate account assets increasing by 19 per cent1.

'During 2017 we announced that we were combining our asset manager, M&G, and Prudential UK & Europe to form M&G Prudential, a leading savings and investment business in the UK and Europe well positioned to target growing customer demand for comprehensive financial solutions. M&G Prudential has delivered record levels of external asset management net inflows of £17.3 billion, contributing to total assets under management7 of £351 billion.

'Our strategy is aligned to structural trends: the savings and protection needs of the fast-growing middle class in Asia, the retirement income needs of the baby boomers in the US and the increasing demand for managed savings solutions among the ageing populations of the UK and Europe. The Group's performance demonstrates that we are highly effective in accessing the opportunities arising from these trends, and that we are meeting the needs of our customers better than ever before. I am confident that, given the extent of our opportunities and our proven ability to execute and innovate, we are well positioned to continue to grow profitably.'

more.....

Change https://www.moneyam.com/action/news/showArticle?id=6149604

USB issues a buy note https://www.moneyam.com/action/news/showArticle?id=6168807

Prudential plc investor conference and business performance update

Prudential plc ("Prudential") is holding a conference for investors and analysts in Singapore on 14-15 November 2018.

The presentations will focus on Prudential's Asia businesses, which are central to the Group's long-term growth ambitions, both today and post-demerger of M&G Prudential, our savings and investment business in the UK and Europe. There will also be a Group update on strategy, the M&G Prudential demerger process and new business performance, alongside presentations from Jackson, our US business, and M&G Prudential.

Mike Wells, Group Chief Executive, said: "Since our last Asia-based investor conference in 2014, our Asia business has more than doubled new business profit1, demonstrating our ability to capture high-quality growth at pace.

"As we look ahead post-demerger, the profitable growth prospects of our Asia businesses remain substantial, given the increasing protection and savings needs of our customers and the extent of the footprint we have established.

"I look forward to showcasing the breadth of our capabilities and the reach of all of our businesses, which underpin my confidence in the ability of Prudential and M&G Prudential to capture the structural opportunities ahead and to continue to deliver for the benefit of all our stakeholders."

..More