Prudential PLC Says 2026 Goal Tougher After China Drags On Sales
By P.R. Venkat
Prudential PLC's third-quarter sales fell after new rules in mainland China on selling insurance through banks hurt its volumes there.
Annual premium equivalent sales, a key industry metric, fell 6% on year to $1.60 billion, the insurer said Thursday.
New business profit rose 1% to $709.0 million.
Hong Kong, Thailand and Malaysia performed strongly. Excluding mainland China, new business profit rose 13%.
The quarter was "a resilient performance despite recent regulatory changes to bancassurance expense controls," Chief Executive Anil Wadhwani said.
Prudential PLC said new business profit picked up strongly in September and October, including in mainland China.
But a slower recovery there means its 2026 profit growth target is now harder to reach than it thought at its half-year results.
It still aims for double-digit growth in its key financial metrics this year.
Write to P.R. Venkat at venkat.pr@wsj.com
(END) Dow Jones Newswires
November 04, 2026 18:37 ET (23:37 GMT)
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