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