Business Strategy and Outlook| Henry Heathfield |
Prudential is now a fully focussed Asia and Africa business accessing the high growth of these markets. This has come about with the divestment of M&G plc completed in October 2019 and the completed separation of Jackson in September 2021. Though Prudential still holds a small Jackson stake. We think the focus of the market is currently on lower growth and that is what is being extrapolated. However, we do not think the restricted movement conditions in China and Hong Kong will last forever and we see a trend of an easing of these restrictions. With that we also believe there will be a normalisation of new business contributions and the rates of growth within the in-force business will start to approach something more normal.