Prudential plc

Prudential plc is a life and health insurer and asset manager based in Hong Kong. Its shares trade in Hong Kong and London, and its ADRs trade in New York, where each ADR represents two shares. It sells savings, health and protection insurance in Asia and Africa, including Hong Kong, the Chinese Mainland (through a joint venture), Singapore, Malaysia, Indonesia and India.

Its asset manager, Eastspring, had $290.8 billion of funds under management or advice at June 30, 2026. Prudential plc has no link to Prudential Financial in the United States.

The market prices Prudential for risk in its markets in Greater China. In the Chinese Mainland, new rules that control bancassurance expenses lowered new business profit, and in November 2026 Prudential said that new business profit there in 2026 will fall by 10% to 15% from 2025. In Q3 2026, group new business profit grew only 1% and APE sales fell 6%, and Prudential said that its 2026 group guidance is now more stretching. In Hong Kong, about half of sales go to international customers, a group that includes visitors from the Chinese Mainland.

Prudential says that it is too early to know whether recent commentary about the enforcement of existing rules will change how these visitors buy. IFRS profit after tax also fell 27% in the first half of 2026. For the gap to close, Prudential must deliver its 2026 guidance of double-digit growth in new business profit, operating free surplus and adjusted EPS. It must also reach its 2027 objectives: new business profit growth of 15% to 20% a year from 2022 to 2027 and at least $4.4 billion of operating free surplus in 2027.

The full-year 2026 results, estimated for about March 18, 2027, are the next test. If sales to visitors from the Chinese Mainland hold, the gap can close over the next four to six quarters. Part of the gap may stay, because the market can keep a discount for China policy risk that Prudential cannot control.

1. Nov 5, 2026Failed

   Q3 2026 update: Hong Kong salesNew business profit growth that keeps the double-digit 2026 guidance passes; a fall in Hong Kong sales to visitors from the Chinese Mainland fails.Outcome: New business profit grew only 1% in Q3 2026, and Prudential said that its double-digit 2026 guidance is now more stretching.
2. Mar 18, 2027 · est.Pending

   Full-year 2026 resultsDouble-digit growth in new business profit, operating free surplus and adjusted EPS in 2026 passes; growth below 10% fails.

Every passed and failed checkpoint across all picks

• November 5, 2026In its Q3 2026 update, Prudential reported new business profit of $709 million, up 1% at constant exchange rates, with a margin of 44%. APE sales fell 6%. Without the Chinese Mainland, new business profit grew 13%. For the first nine months, new business profit grew 6% to $2,093 million. Prudential now expects Chinese Mainland new business profit for 2026 to be 10% to 15% below 2025, and it said that its 2026 group guidance for new business profit is now more stretching. Hong Kong new business profit grew by double digits in Q3, but fewer visitors from the Chinese Mainland converted into sales.
• October 26, 2026Naveed Irshad joined Prudential as a regional chief executive.
• August 27, 2026Prudential reported first-half 2026 results. New business profit grew 8% at constant exchange rates to $1,384 million, with a margin of 40%. Operating free surplus from in-force business grew 15% to $1,791 million, and adjusted EPS grew 17% to 58.4 cents. IFRS profit after tax fell 27% to $995 million. The interim dividend rose 15% to 8.88 cents per share.

Next earnings

Expected about March 18, 2027. The company has not confirmed the date.

• 20-FAnnual report for the period ended Dec 31, 2025Filed March 26, 2026 · puk-20251231
• 20-FAnnual report for the period ended Dec 31, 2024Filed March 26, 2025 · puk-20241231x20f

Every filing on SEC EDGAR (CIK 1116578)

• About half of Hong Kong sales go to international customers, including visitors from the Chinese Mainland. Stricter enforcement of rules on such purchases can lower sales and new business profit.
• New bancassurance expense rules in the Chinese Mainland lowered new business profit in 2026, and Prudential expects new business profit there to fall 10% to 15% in 2026. More rule changes can hold growth down for longer.
• Interest rates and financial markets affect IFRS profit, the value of new business and free surplus. IFRS profit after tax fell 27% in the first half of 2026.
• The purchase of 75% of Bharti Life and the new health business in India need regulatory approvals and can require Prudential to reduce its stake in ICICI Prudential Life.

Prudential holds most of its debt at the holding company. At June 30, 2026, core structural borrowings of the shareholder-financed businesses were $4.45 billion, and holding company cash and short-term investments were $3.70 billion, so net core borrowings were $751 million. Read more

Yield at the current rate

2.2% (current annual rate, at today’s price)

Dividend yield

2.2% (last 12 months, at today’s price of $25.75)

Paid per share

$0.556 in the last 12 months (2 payments)

Current annual rate

$0.556 (the last two payments)

Latest ex-dividend date

September 11, 2026, $0.178 per share

Dividends per share by year

From 2020 to 2025, the dividend fell by about 4.6% a year. From 2015 to 2025, the dividend fell by about 8.1% a year.

One-off payments far above the usual dividend are left out of these numbers.

Source: company filings and market data, read on November 13, 2026. The ex-dividend date is the first day a buyer no longer gets the next payment.