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Prudential’s profit growth muted by China slowdown

FTSE 100 insurance group sees opportunity in low level of cover among Asian consumers
Chief executive Anil Wadhwani has fought to restore momentum to the Asia-focused insurer

Prudential suffered a slowdown in profit growth in 2024 as challenges in its core China market weighed on the life insurer.

The FTSE 100 group said on Thursday morning in Hong Kong that new-business profit, a measure of expected earnings from recently sold products, rose by 11 per cent to $3.08bn in 2024, at constant currencies.

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